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Please help Kieso, Intermediate Accounting, 16e Intermediate Accounting (ACCT 300A/ BACK Ayayai Supply Company, a newly formed corporation, incurred the following expenditures related to Land,
Please help Kieso, Intermediate Accounting, 16e Intermediate Accounting (ACCT 300A/ BACK Ayayai Supply Company, a newly formed corporation, incurred the following expenditures related to Land, to Buildings, and to Machinery and Equipment. Abstract company's fee for titie search Architect's fees Cash paid for land and dilapidated building thereon Removal of old building $1,014 6,182 169,650 10-19 $39,000 Less: Salvage Interest on short-term loans during construction Excavation before construction for basement Machinery purchased (subject to 2% cash discount, which was not taken) Freight on machinery purchased Storage charges on machinery, necessitated by noncompletion of 10,725 28,275 14,430 37,050 107,250 2,613 building when machinery was delivered New building constructed (building construction took 6 months from 945,750 date of purchase of land and old building) Assessment by city for drainage project Hauling charges for delivery of machinery from storage to new building In Trees, shrubs, and other landscaping after completion of building 1,209 3,900 of machinery (permanent in nature) 10,530 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.Company uses net method to record discount. (Please leave spaces blank if there is no answer. Do not enter zeros in those spaces.)
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