Bright Co. received a government grant of 10,000,000 to install and run a windmill in an economically backward area. The entity had estimated that such a windmill would cost 25,000,000 to construct. The secondary condition attached to the grant is that the entity shall hire labor in the area where the windmill is located. The construction was completed on January 1, 2014. The windmill is to be depreciated using the straight-line method over a period of 10 years. What amount of grant income should be recognized for 2014? O2,500,000 1,500,000 1,000,000 5,000,000

Cimi Manufacturing had the following transactions related to the purchase of long-term assets. During 2025, purchased land for $380,000 with plans to build a new facility.  The company pays $23,500 to demolish a building that was on the land and an additional $17,000 to grade the land in preparation for the new building.  Construction cost of the new building was $$2,100,000.  The parking lot and related lighting cost $41,000.  Cimi's employee wages during this time of construction were $214,000.  On Nov 5, 2025, Cimi purchased machinery to be install in the new facility.  the machine had a price of $28,000 with term 2/10, n/30, and FOB shipping point.  Cimi always pays within the discount period.  Transporation cost of $680 wer paid.  Additionally, the following costs related to installation of the machine were incurred:  installation cost $7,600 of which $5,000 of this was parts, testing costs of $900.  During installation, damage to a neighboring company's warehouse occured, costing…

Crane Corporation acquires a coal mine at a cost of $404,000. Intangible development costs total $101,000. After extraction has occurred, Crane must restore the property (estimated fair value of the obligation is $80,800), after which it can be sold for $161,600. Crane estimates that 4,040 tons of coal can be extracted.If 707 tons are extracted the first year, prepare the journal entry to record depletion. (If no entry is required, select "No entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit enter an account title enter a debit amount enter a credit amount enter an account title enter a debit amount enter a credit amount

At the beginning of 2024, Terra Lumber Company purchased a timber tract from Boise Cantor for $3,730,000. After the timber is cleared, the land will have a residual value of $760,000. Roads to enable logging operations were constructed and completed on March 30, 2024. The cost of the roads, which have no residual value and no alternative use after the tract is cleared, was $297,000. During 2024, Terra logged 660,000 of the estimated 6.6 million board feet of timber. Required: Calculate the 2024 depletion of the timber tract and depreciation of the logging roads, assuming the units-of-production method is used for both assets. Note: Do not round intermediate calculations. Enter values in whole dollars. Depletion of the timber tract Depreciation of the logging roads