Determine cost of plant acquisitions.
E9-1 The following expenditures relating to plant assets
were made by Spaulding Company during the first 2 months of 2011.
1. Paid $5,000 of accrued taxes at time plant site was
acquired.
2. Paid $200 insurance to cover possible accident loss on
new factory machinery while the machinery
was in transit.
3. Paid $850 sales taxes on new delivery truck.
4. Paid $17,500 for parking lots and driveways on new plant
site.
5. Paid $250 to have company name and advertising slogan
painted on new delivery truck.
6. Paid $8,000 for installation of new factory machinery.
7. Paid $900 for one-year accident insurance policy on new
delivery truck.
8. Paid $75 motor vehicle license fee on the new truck.
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