Information related to plant assets, extractable natural resources, and intangibles at the end of 2020 for Whispering Energy is as follows: buildings £1,020,000, accumulated depreciation-buildings £650,000, goodwill £410,000, coal mine £499,000, and accumulated depletion-coal mine £108,000. Prepare a partial statement of financial position of Whispering Energy for these items. (List Property, plant and equipment in order of coal mine and buildings.)

ABC Ltd has the following land and buildings in its financial statements as of 30 June 2022: Residential land, at cost 2,553,800 Factory land, at valuation 2020 2,298,420 Buildings, at valuation 2020 2,043,040 Accumulated depreciation -255,380 At 30 June 2022, the balance of the revaluation surplus is $1,021,520, of which $766,140 relates to the factory land and $255,380 to the buildings. On this same date, independent valuations of the land and buildings are obtained. In relation to the above assets, the assessed fair values at 30 June 2022 are: Residential land, previously recorded at cost 2,809,180 Factory land, previously revalued in 2020 1,787,660 Buildings, previously revalued in 2020 2,298,420 Required: Provide the journal entries to account for the revaluation on 30 June 2022. ABC Ltd classifies the residential land and the factory land as different classes of assets.

The plant asset and accumulated depreciation accounts of Pell Corporation had the following balances at December 31, 2023: Plant Asset Accumulated Depreciation $ 340,000 177,000 1,480,000 1,138,000 148,000 Land Land improvements Building Equipment Automobiles Transactions during 2024 were as follows: a. On January 2, 2024, equipment were purchased at a total invoice cost of $250,000, which included a $5,300 charge for freight. Installation costs of $25,000 were incurred in addition to the invoice cost. b. On March 31, 2024, a small storage building was donated to the company. The person donating the building originally purchased It three years ago for $23,000. The fair value of the building on the day of the donation was $16,000. c. On May 1, 2024, expenditures of $48,000 were made to repave parking lots at Pell's plant location. The work was necessitated by damage caused by severe winter weather. The repair doesn't provide future benefits beyond those originally anticipated. d. On…

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