A. Journalize the transactions. Navarro uses straight-line depreciation for buildings and equipment. The buildings are estimated to have a 40-year useful life and no salvage value; the equipment is estimated to have a 10-year useful life and no salvage value. Update depreciation on assets disposed of at the time of sale or retirement.

B. Record adjusting entries for depreciation for 2015

C. Prepare the plant assets section of Navarro's balance sheet at December 31, 2015

ug Kimmel, Financial Accounting, 7e nment Problem 9-2A At December 31, 2014, Navaro Corporation reported the following plant assets $3,576,000 Buildings 35,890,000 14,214,600 47,680,000 21,675,400 Equipment Less: Accumulated depreciation 5,960,000 41.720,000 Total plant assets 971,400 During 2015, the following selected cash transactions occurred. Apr. 1 Purchased land for $2,622,400 May 1 Sold equipment that cost $715,200 when purchased on January 1, 2008. The equipment was sold for $202,640. June 1 Sold land for $1,907,200. The land cost $1,192,000. uly 1 Purchased equipment for $1,311,200. Dec. 31 Retired equipment that cost $834,400 when purchased on December 31, 2005. No salvage value was received. our answer is correct value; the equipment is estimated to have a 10-year useful life and no salvage value. Update depreciation on assets disposed entries in the order displayed in the problem statement. Credit account titles are automatically indented when amount