ACCT125-Introductory Accounting II Assignment #1 Chapter 9 39 marks v141 Name: Student Number: 1. Swift Current Company, to construct a new office building for themselves, purchased a tract of land with an old unsuitable building on it. They plan to remove the building and make the following transactions. Prepare a schedule showing the amounts to be recorded as Land, Building, Equipment, and Operating Expenses. (10 marks) Survey of the site for the new building $ 5,716 Removal of old building $ 24,413 Construction costs of new building $ 1,144,166 Legal fees for title search of property $ 698 Architect's fees $ 7,930 Clearing of land for parking lot $ 5,025 Purchase price for land and existing building $ 110,741 Security costs of completed property $ 3,101 Freight on machinery purchased $ 1,129 Purchase of machinery and equipment $ 68,580