6 Casting Crown Construction entered into the following transactions during a recent year. January 2 Purchased a bulldozer for $200,000 by paying $20,000 cash and signing a $180,00 note. January 3 Replaced the steel tracks on the bulldozer at a cost of $20,000, purchased on account. January 30 wrote a cheque for the amount owed on account for the work completed on January 3. February 1 Replaced the seat on the bulldozer and wrote a cheque for the full 560e cost. March 1 Paid $2,400 cash for the rights to use computer software for a two-year period Required: 1-a. Analyze the accounting equation effects. (Enter any decreases to accounts with a minus slgn.) 8.67/12 points awarded Scored Assets Liabilites Shareholder's Equity Date Jan 2. Equipment Note payable 180 000 eBook Cash 200,000 120,000) 20,000 Equipment Accounts payable 20.000 Print Cash equivalents Accounts payable (20,000) Jan 3 Jan 30 Feb 1 Mar 1 120,000) (600) Cash equivalents X Repairs and maintenance expense 500 References Cash (2.000) 2,000 Software 1-5. Prepare the journal entries for each of the transactions. (If no entry is required for a transaction/event, select "No journal entry required in the first account field.) General Journal Credit No 1 Date Jan 02 Debit 200 000 Equipment Cash Note payable 20.000 180 000 2 Jan 03 20.000 Equipment Accounts payable 20 000 3 Jan 30 20 000 Accounts payable Cash equivalents 20.000 4 Feb 01 500 Repairs and maintenance expense Cash equivalents x 800 5 5 Mar 01 2.400 Software Cash 2.400 2. For the tangible and intangible assets acquired in the preceding transactions, determine the amount of depreciation and amortization that Casting Crown Construction should report for the quarter that ended March 31. The equipment is depreciated using the double-declining-balance method with a useful life of five years and $40,000 residual value. Equipment Licensing rights 22,000 300 X S 3. Prepare a joumal entry to record the depreciation and amortization calculated in requirement 2. (If no entry is required for a transaction/event, select "No journal entry required in the first account field.) Credit Debit 22.000 22.000 No Date General Journal 1 Mar 31 Depreciation expense Accumulated depreciation Equip) Amortization expense Accumulated amortization Red text indicates no response was expected in a cell or s formus-based calculation is incorrecting points deducted. x 300 300 x