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1. Journalize transactions for the following (explanations are not required): a. Purchase of the land b. All the costs chargeable to the building, in a
1. Journalize transactions for the following (explanations are not required): a. Purchase of the land b. All the costs chargeable to the building, in a single entry c. Depreciation on the building b. 2. Report this transaction in the Property, Plant, and Equipment on the company's balance sheet at December 31 , 2020. 3. What will Roberts Inc.'s income statement for the year ended December 31,2020 , report for the building? 4. Suppose in 2021, Roberts Inc. changed the useful life of the building from 25 years to 30 years. How will this affect the income statement and balance sheet? c. Requirement 3. What will Roberts Inc.'s income statement for the year ended December 31, 2020, report for the building? Requirement 4. Suppose in 2021, Roberts Inc. changed the useful life of the building from 25 years to 30 years. How will this affect the income statement and balance sheet
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