(Algo) Calculating Partial-Year Depreciation [LO 9-3] Calculate the amount of depreciation to report during the year ended December 31 for equipment that was purchased at a cost of $88,000 on October 1 . The equipment has an estimated residual value of $3,000 and an estimated useful ife of five years or 20,000 hours. Required: Assume the equipment was used for 1.000 hours from October 1 to December 31 and the company uses (a) straight-line, (b) doubledeclining balance, or ( units-of-production depreciation. (Do not round intermediate calculotions.) Required information E9-2 (Algo) Computing and Recording a Basket Purchase and Straight-Line Depreciation [LO 9-2, LO 9-3] [The following information applies to the questions displayed below] Bridge City Consulting bought a building and the larid on which it is located for $175,000 cash. The land is estimated to represent 70 percent of the purchase price. The company paid $20.000 for building renovations before it was ready for use: E9-2 (Algo) Part 2 Required: 2. Prepare the joumal entry to record all expenditures. Assume that all transactions were for cash and they occurred at the start of t year. (If no entry is required for a tronsaction/event, select "No Journol Entry Required" in the first account field.) Journal entry worksheet Record all expenditures for the land and buildings assuming all transactions were paid for with cash and occurred at the start of the year. Wotes Enter debits befeete credits. Required information E9-2 (Algo) Computing and Recording a Basket Purchase and Straight-Line Depreciation [LO 9-2, LO 9-3] [The following information applies to the questions displayed below] Bridge City Consulting bought a building and the land on which it is located for $175,000cash. The land is estimated to represent 70 percent of the purchase price. The company paid $20,000 for building renovations before it was ready for use 9-2 (Algo) Part 3 and 4 Compute straight-line depreciation on the building at the end of one year, assuming an estimated 10 -year useful life and a $19.500 estimated residual value. (Do not round intermediote calculations.) What should be the book value of (a) the land and (b) the building at the end of year 2