A Company Made the Following Expenditures in Connection with the Construction
Question 147
Question 147
Essay
A company made the following expenditures in connection with the construction of its new building: Architect’s fees for the new building Cash paid for land and run-down building on the land Removal of old building Salvage from sale of old building materials Construction survey to site the new building Legal fees for title search Excavation for basement construction Machinery purchased for operations Storage charges on machinery because building was not ready when machinery was delivered Freight on machinery purchased Hauling charges to delivery machinery from Storage to new building Construction costs of new building Landscaping Installation of machinery $12,000300,00018,0004,0001,5003,00025,000100,0009001,6003001,000,00020,0002,500
Prepare a schedule showing the amounts to be recorded as Land,Buildings and Machinery.
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