Need a T graph : Sale of Building Building Asset: 555,047.06 Accumulated Depreciation: 121,507.21 Sale Cash $300,000 however you only recieve 295,446.97 because the lawyer took 4,553.03

Current Attempt in Progress Marigold Corp. acquires land for $100000 cash. Additional costs are as follows: Removal of shed Filling and grading Residual value of lumber from shed Paving of parking lot Closing costs Type here to search $430 $104890. O $100000. O$104460. O $120690. 3300 Marigold will record the cost of the land as 150 15500 1310 C P 5 59 -4°C Clear 4) ENG 10: 2022

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What is the cost of the land, based upon the following data? Land purchase price $179,980 Broker's commission 15,546 Payment for the demolition and removal of existing building 3,928 Cash received from the sale of materials salvaged from the demolished building 2,519 $fill in the blank 1

MCQ3 Smitty Inc. wishes to use the revaluation model for this property: Before Revaluation • Building Gross Value 120,000 • Building Accumulated Depreciation 40,000 • Net carrying value 80,000 The fair value for the property is $150,000. Assuming this is the first year of using the revaluation model, what amount would be booked to the Accumulated Depreciation account, if Smitty chooses to use the proportional method to record the revaluation?

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1. Use the following information about a newly acquired plant asset for cash. Record the information in a GJ form List Price $37,000 Sales Tax 2, 500 Freight Charges 2,800 Installation 700 Repairs due to breakage while unpacking equipment 400 2. On January 1, 2000, a piece of equipment was purchased at a cost of $26,000 and has an estimated salvage of $4,000. The estimated useful of the equipment is five years. Calculate the depreciation for 2000 & 2001 using the following methods: a. The straight-line method b. The double declining balance method

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Assignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress=false ☆ O 1 * Updat A machine costing $58,228 with a 4-year life and $52,607 depreciable cost was purchased January 1. Compute the yearly depreciation expense using straight- line depreciation. Round your answer to the nearest whole dollar. per year Previous Next %24

The fair value of the old packaging machine is determined 2. Exchanged an old packaging machine which cost P240,000 Pro used as a long term asset. 300,000 Carrying amount of the car Listed selling price of the car Fair value of the computer Cash difference paid by Cherish Company 450,000 430,000 50,000 and was 50% depreciated, for new machine and paid000 difference of P30,000. to be P110,000 and the list price of the new machine is P150,000. 3. Exchanged an old equipment costing P3,000,000 with accumulated depreciation of P1,800,000 and fair value of P1,000,000 for another used equipment with fair value of P1,200,000. The exchange is nonmonetary. Required: Prepare journal entries to record the transactions.