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Swifty Supply Company, a newly formed corporation, incurred the following expenditures related to Land, to Buildings, and to Machinery and Equipment. Less: Salvage Interest on

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Swifty Supply Company, a newly formed corporation, incurred the following expenditures related to Land, to Buildings, and to Machinery and Equipment. Less: Salvage Interest on short-term loans during construction 12,37516,65032,625 Excavation before construction for basement 42,750 Machinery purchased (subject to 2% cash discount, which was not taken) Freight on machinery purchased Storage charges on machinery, necessitated by noncompletion of building when machinery was delivered 4,905 New building constructed (building construction took 6 months from date of purchase of land and old building) Assessment by city for drainage project 3,015 Hauling charges for delivery of machinery from storage to new building 1,395 Installation of machinery 4,500 Trees, shrubs, and other landscaping after completion of building (permanent in nature) 12,150 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.) Excavation before construction Machinery purchased Freight on machinery Storage charges caused by noncompletion of building New building Assessment by city Hauling charges- machinery Freighton machinery Storago charges caused by noncompletion of building New building Assessment by city Hauling charges- machinery Installation- machinery Landscaping

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