A Company Made the Following Expenditures in Connection with the Construction

question 141

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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Definitions:

Country Marks

Traditional scars or marks on the body, often facial, which are specific to certain African tribes or ethnic groups, serving as identifiers.

Filed Teeth

A cultural practice found in some regions and societies, where teeth are deliberately modified or filed into shapes, often for aesthetic or status reasons.

African-born Slaves

Individuals born in Africa who were forcibly transported to various parts of the world to work as slaves.

Mid-Atlantic

A geographical term referring to the central region of the East Coast of the United States, typically including states like New York, New Jersey, Pennsylvania, Delaware, Maryland, and sometimes Virginia and Washington, D.C.