Intermediate Financial Accounting classLong term assest question:

Exercise 10-5 Pnamah 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 $1,040 Architect's fees 5,340 Cash paid forland and dilapidated building thereon 174.000 Removal df did building $40,000 Less: Salvage 11.000 29,000 Interest on short-term loans during construction 14,000 Excavation before cunstructian for basement 30,000 Machinery purchased (subject ta 2% cash discount, which was not taken) 110,000 Freight on machinery purchased 2,680 Storage charges on machinery. necessitated by nancampletian of building when machinery was delivered 4,360 New building constructed (building construction took 5 months from date of purchase 0? land and Old building) 970,000 Assessment by city for drainage project 3.200 Hauling charges fordeilvery cf machinery from storage to new building 1,240 Installation of machinery 4.000 Trees, shrubs, and other landscaping aftermmpletidn of huiidlng [permanent in nature) 10,000 Determine the amounts that should be debited to Land, td Iuildlngs, and to Machinery and Equipment. Assume the benets of capitalizing interest during construction exceed the cost ofimplementation. Company uses net method to record discount. Abstract company's fee for title search Architect's fees Cash paid for land and old building Removal of old building Interest on short-term loans during construction Excavation before construction for basement Machinery purchased Freight on machinery purchased Storage charges on machinery New building constructed Assessment by city for drainage project Hauling charges Installation of machineryI Trees, shrubs, and other landscaping Laud Buildings Hadllnerv and Equipment $ other