A Company Made the Following Expenditures in Connection with the Construction

question 77

Essay

A company made the following expenditures in connection with the construction of its
new building:
$\begin{array}{|l|r|}\hline\text { Architect's fees for the new building } & \$ 12,000 \\\hline \text { Cash paid for land and run-down building on the land } & 300,000 \\\hline \text { Removal of old building } & 18,000 \\\hline \text { Salvage from sale of old building materials } & 4,000 \\\hline \text { Construction survey to site the new building } & 1,500 \\\hline \text { Legal fees for title search } & 3,000 \\\hline \text { Excavation for basement construction } & 25,000 \\\hline \text { Machinery purchased for operations } & 100,000 \\\hline\begin{array}{l}\text { Storage charges on machinery because building was } \\\text { not ready when machinery was delivered }\end{array} & 900 \\\hline \text { Freight on machinery purchased } & 1,600 \\\hline \begin{array}{l}\text { Hauling charges to delivery machinery from } \\\text { Storage to new building }\end{array} & 300 \\\hline \text { Construction costs of new building } & 1,000,000 \\\hline \text { Landscaping } & 20,000 \\\hline \text { Installation of machinery } & 2,500\\\hline\end{array}$

Prepare a schedule showing the amounts to be recorded as Land,Buildings and Machinery.

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