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Tamarisk 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

Tamarisk 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 title search $1,066 Architect's fees 6,499 Cash paid for land and dilapidated building thereon 178,350 Removal of old building $41,000 Less: Salvage 11,275 29,725 Interest on short-term loans during construction 15,170 Excavation before construction for basement 38,950 Machinery purchased (subject to 2% cash discount, which was not taken) 112,750 Freight on machinery purchased 2,747 Storage charges on machinery, necessitated by noncompletion of building when machinery was delivered 4,469 New building constructed (building construction took 6 months from date of purchase of land and old building) 994,250 Assessment by city for drainage project 3,280 Hauling charges for delivery of machinery from storage to new building 1,271 Installation of machinery 4,100 Trees, shrubs, and other landscaping after completion of building (permanent in nature) 11,070 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.) $ Abstract fees Architect's fees Cash paid for land and old building Removal of old building Interest on loans during construction Excavation before construction Machinery purchased Freight on machinery Storage charges caused by noncompletion of building New building Assessment by city Hauling charges - machinery Installation - machinery Land +A $ Buildings LA Machinery and Equipment $ +A $ Oth Landscaping +A CA +A $ $ +A +A $ Other

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