1) What is the journal entry to record the depreciation expense for the year ending December 31, 2024?

2) The amount of gain or loss from this sale is:

3) Compute the depreciation expense on the printer for the year ended December 31, 2024, using the straight-line method.

4) What amount should be recorded in the books for the cost of the new building?

On November 25, 2024, Cindy's Cookies acquired equipment at a cost of $100,000. Cindy's uses the modified half-month convention to calculate depreciation expense in the year an asset is purchased or sold. Cindy has a calendar year accounting period and uses the double-declining - balance method to compute depreciation expense. The equipment has a residual value of $25,000 and an estimated useful life of 10 years. What is the journal entry to record the depreciation expense for the year ending December 31, 2024? (Do not round any Intermedinte calculations. Round your final answer to the nearest dollar.) 20,000 O A. Depreciation Expense-Equipment Accumulated Depreciation Equipment 20,000 1,667 1,667 B. Depreciation Expense-Equipment Accumulated Depreciation Equipment C. Depreciation Expense-Equipment Accumulated Depreciation Equipment 15,000 15,000 1,250 D. Depreciation Expense-Equipment Accumulated Depreciation-Equipment 1.250 Tipton Manufacturing has a machine that cost $125,000 when now and has accumulated depreciation of $114,000, which it sold for $4,000. The amount of gain or loss from this sale is: A. a loss of $7,000 B. a loss of $11,000 c. a gain of $11,000 D. a gain of $7,000 On June 30, 2024, Clooney Printers purchased a printer for $55,000. It expects the printer to last for four years and have a residual value of $2,000. Compute the depreciation expense on the printer for the year ended December 31, 2024, using the straight-line method. O A $7,729 OB. $13,750 C: $6,625 OD. $13,250 Acquisition of land Architectural Fee Lawn sprinkler system Surveys and legal fees Land clearing Cost to tear down old building Contractor charges for new building Fencing Material and labor cost for building Install lighting and signage Parking lot $250,000 25,300 2,200 12,600 11,200 10,000 85,000 18,300 660,000 1,900 12.300 A $838,800 B. $780,300 C. $703,600 D. $770,300