a.) Calculate the amounts allocated to the various types of plant assets acquired on April 1.

b.) Prepare the April 1 journal entries to record the purchase of the assets and the payment to the consultant

c.)Prepare the December 31 journal entries to record depreciation expense for the year on the building, trucks, and equipment. (Round to the nearest dollar.)

Please include the equations you use to get the values in part a.

Thank you!

Allocation of Package Purchase Price and Depreciation Methods In and expansion move, Beam Company paid $2,480,000 for most of the property, plant, and equipment of a small manufacturing firm that was going out of business. Before agreeing to the price, Beam hired a consultant for $20,000 to appraise the assets. The appraised values were as follows: Land $432,000 Building 1,026,000 Equipment 1,080,000 162,000 Trucks Total $2,700,000 Beam issued two checks totaling $2,500,000 to acquire the assets and pay the consultant on April 1. Beam depreciated the assets using the straight-line method for the building and equipment, and the double-declining balance method for the trucks. Estimated useful ives and salvage values were as follows: Salvage Useful Life Value Building 15 years $86,000 quipment 9 years 70,000 Trucks 5 years 3,000 a. Calculate the amounts allocated to the various types of plant assets acquired on April 1