12 On March 31, 2021, the Herzog Company purchased a factory complete with vehicles and equipment. The allocation of the total purchase price of $1.100.000 to the various types of assets along with estimated useful lives and residual values are as follows: Estimated Estimated Residual Useful Asset Cost Value Life (in years) Land $ 150,000 N/A N/A Building 609,800 none 25 Equipment 140, 890 12% of cost 10 Vehicles 210,000 $15,000 18 Total $1,189, eee On June 29, 2022. equipment included in the March 31 2021. purchase that cost $110.000 was sold for $90.000. Herzog uses the straight-line depreciation method for building and equipment and the double-declining balance method for vehicles. Partial-year depreciation is calculated based on the number of months an asset is in service. Required: 1. Compute depreciation expense on the building equipment, and vehicles for 2021 2. Prepare the journal entries to record the depreciation on the equipment sold on June 29, 2022 and the sale of equipment 3. Compute depreciation expense on the building, remaining equipment and vehicles for 2022 Complete this question by entering your answers in the tabs below. Required: Required 2 Required Compute depreciation expense on the building equipment, and vehicles for 2021. (Do not round intermediate cakt) Depreciation Expense Budding 18.000 Escient 10 800 Vehicles 0 240 Prey 12 of 12H SU uws Prepare the journal entries to record the depreciation on the equipment sold on June 29, 2022, and the sale of equper required for a transaction event, seled "No journal entry required in the first account field. Do not round intermediate Round your final answers to nearest whole dollar.) eBook View transaction list Print Journal entry worksheet eferences 1 2 Record the depreciation on machinery sold. Note: Enter debats before credits General Journal Debit Credit Date June 29, 2022 Record entry Clear entry View general journal