A Company Made the Following Expenditures in Connection with the Construction

Essay

A company made the following expenditures in connection with the construction of a new building:
$\begin{array}{lr}\text { Architect's fees } & \$ 12,000 \\\text { Cash paid for land and unusable building on the land } & 300,000 \\\text { Removal of old building } & 18,000 \\\text { Salvage from sale of old building materials } & (4,000) \\\text { Construction survey } & 1,500 \\\text { Legal fees for title search } & 3,000 \\\text { Excavation for basement construction } & 25,000 \\\text { Machinery purchased for operations } & 100,000\\\text {Storage and delivery charges on machinery because building}\\\text { was not ready when machinery was delivered}&900\\\text {Freight on machinery purchased}&1,600\\\text {Construction costs of new building}&1,000,000\\\text {Installation of machinery}&2,500\end{array}$ Prepare a schedule showing the amounts to be recorded as Land, Buildings, and Machinery.