Amalia Bhd is a construction company incorporated in 2016. During 2020, the following QUESTION 2 transactions occurred. February 2020 A piece of land is acquired with a building for RM560,000. The closing statement indicated that the land value was RM400, 000 and the building value was RM160, 000. Shortly after the acquisition, the building was demolished at a cost of RM43,000. A new building was constructed and the expenditures were as follows: RM 56,000 37.500 52.100 77.900 4.600 Proceed from the sale of old building Cost of land clearing Excavation fees Architectural design fees Building permit foes Cost of construction Temporary house for workers Parking lots, streets and side walks Fences around the building General expenses 430,400 25,000 36,700 50,000 209.000 April 2020 General expenses included CEO salary amounting to RM150,000, 6-month superintendent salary guarding the construction site totaling RM25,000 and advertising expenses related to shop lots in the building of RM34.000. Acquired a specialized machine and an equipment at the price of RM80,000. The market value of the machine and the equipment is RM78, 750 and RMII. 250. To acquire these assets, Amalia Bhd issued 34,000 ordinary shares. The market price of the shares is RM2.50 per share. Other costs puid related to the machine were as follows. Installation cost RM 18.000 9,000 Safety inspection cost prior to use 12,000 Employee training cost for the machine REQUIRED: 2 (a) Determine the cost of (0) Land (ii) Building (iii) Land improvement (if any) (b) Calculate the cost of specialized machine and equipment purchased in April 2020 and prepare the journal entries