Below Are Transactions for Oriel Company

Below are transactions for Oriel Company:
1. Purchased land for $ 900,000.
2. Paid $ 20,000 to demolish building located on land.
3. Paid $ 3,000 for building permit.
4. Paid $ 2,000 for architect fees.
5. Paid $ 3,000 for excavation costs.
6. Paid interest of $ 22,000 during construction of new building.
7. Paid $ 960,000 to complete the building.
8. Paid $ 30,000 to pave the parking lot.
9. Paid $ 4,000 for underground sprinkler.
10. Ordered new equipment, paid $ 30,000.
11. Paid $ 1,500 to install and test new equipment.
12. Paid $ 250 to insure equipment for one year.
13. P aid $ 2,500 to paint office walls in the new building.
14. Paid $ 2,000 to repair equipment.
15. Purchased a truck for $ 25,000.
16. Paid $ 250 for truck license.
17. Paid $ 60 for oil change on new truck.
18. Paid $ 15,000 for fences around the new building.
19. Purchased two cash registers for $ 1,100 each.
20. Paid $ 2,200 for annual yard maintenance.
Instructions
a) Determine if each item should be capitalized (C) or expensed (E).
b) Determine the balance in the land account and the building account.