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Den Sicko Supply Company, a newly formed corporation, incurred the following expenditure related to Land, to Buildings, and to Machinery and Equipment Abstract company's
Den Sicko Supply Company, a newly formed corporation, incurred the following expenditure related to Land, to Buildings, and to Machinery and Equipment Abstract company's fee for title search $520 Architect's fee 3.170 Cash paid for land and dilapidated building thereon 17.000 Removal of old building $20.000 Leu: Salvage 5500 14,500 Interest on short-term during construction 7.400 Excavation before construction for 19,000 Machinery purchased bubject to 2% cash discount, which was not taken 55000 1340 Freight on machinery purchased Storage charges on machinery, necessitated by noncompletion of building when machinery was delivered New building constructed building construction took & months from date of purchase of land and old building Assessment by city for drain project Hauling charges for delivery of machinery from storage to new building Installation of machinery Trees, shrubs, and other landscaping after completion of building (permanent in natur 2.100 485.000 1600 620 2000 5,400 Determine the amounts that should be debited to Land. to Buildings, and to Machinery and Equipment. Assume the benefits of capitalizing interest during construction exceed the cost of implementation Indicate how any costs not debited to these accounts should be recorded. (Please leave spaces blank if there is no rower. Do not enter int Architect's fees Cash paid for land and old building Removal of old building Interest on loans during construction before construction Machinery purchased Freight on machinery Storage charges caused by noncompletion of building New building Assessment by Hauling charges- machinery Land Buildings Machinery and Equipment
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