At December 31, 2020. Cord Company's plant asset and accumulated depreciation and amorization accounts had balances as follows: Aclared Depression Category Plant Asses larisation $ 165,000 $ Land Spots Buildings 1.000.000 312, SOD Tuyt 5,000 207,500 Lotongbiles and track 162,000 90, 225 Larehold aprovements 196,000 90,000 Depreciation methods and useful lives Buildings-150% declining balance: 25 years. Equipmen-Straight line: 10 years Automobiles and trucks-2005 declining balance, 5 years, all acquired after 2017 Leasehold Improvements-Straight line Land improvements-Suaight line Depreciation is computed to the nearest month and residual values are immaterial. Transactions during 2021 and other information a. On January 6, 2021. a plant facility consisting of land and building was acquired from King Corp. in exchange for 15.000 shares of Cord's common stock On this date. Cord's stock had a far value of $40 a share. Current assessed values of land and building for property tax purposes are $10,000 and $520,000, respectively. On March 25, 2021, new parking lots, streets, and sidewalks at the acquired plant factiny were completed at a total cost of $132.000 These expenditures had an estimated useful life of 12 years The leasehold improvements were completed on December 31, 2017 and had an estimated useful life of elgta years. The related tease, which would terminate on December 31 2023. was renewable for an addronal four-year term. On April 30, 2021. Card exercised the renewal option d. On July 1 2021 equtpment was purchased at a total invoice cost of $315,000 Additional costs of $12.000 for delivery and $40,000 for installation were incurred e On September 30, 2021. Cord purchased a new automobile for $1.500 1 On September 30, 2021 a truck with a cost of $23.000 and a book value of $2.200 on date of sale was sold for S10.500 Depreciation for the nine months ended September 30, 2021. was $1620 On December 20 2021 equipment wah a cost of $12.000 and a book value of $2.725 at date of disposition was scrapped without cash recovery Requtred. 1. Prepare a schedule analyzing the changes in each of the plant asset accounts during 2021. Do not analyze changes in accumulated depreciation and amonication 2 For each asset category, prepare a schedule showing depreciation or amortization expense for the year ended December 31 2021 Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare schedule analyzing the changes in each of the plant asset accounts during 2021. Do not analyze chan accumulated depreciation and amortization, CORD COMPANY At December 31, 2020, Cord Company's plant asset and accumulated depreciation and amortization accounts had balances as Plant Asset $ 165,000 Accumulated Depreciation and Amortization $ Category Land Land improvements Buildings Equipment Automobiles and trucks Leasehold improvements 1,000,000 625,000 162,000 196,000 218,900 307,500 90, 325 98,000 Depreclation methods and useful Ilves: Buildings-150% declining balance, 25 years. Equipment-Straight line, 10 years. Automobiles and trucks-200% declining balance. 5 years, all acquired after 2017. Leasehold Improvements-Straight line. Land Improvements-Straight line. Depreciation is computed to the nearest month and residual values are immaterial. Transactions during 2021 and other Informatie Depreciation methods and useful Ilves: Buildings-150% declining balance: 25 years. Equipment-Straight line: 10 years. Automobiles and trucks-200% declining balance, 5 years, all acquired after 2017 Leasehold Improvements-Straight line. Land improvements-Straight line. Depreciation is computed to the nearest month and residual values are immaterial. Transactions during 2021 and other information: a. On January 6, 2021, a plant facility consisting of land and building was acquired from King Corp. In exchange for 15,000 shares of Cord's common stock. On this date, Cord's stock had a fair value of $40 a share. Current assessed values of land and building for property tax purposes are $130,000 and $520,000, respectively. b. On March 25, 2021, new parking lots, streets, and sidewalks at the acquired plant facility were completed at a total cost of $132,000. These expenditures had an estimated useful life of 12 years. c. The leasehold Improvements were completed on December 31, 2017, and had an estimated useful life of eight years. The related lease, which would terminate on December 31, 2023, was renewable for an additional four-year term. On April 30, 2021. Cord exercised the renewal option d. On July 1, 2021, equipment was purchased at a total invoice cost of $315,000. Additional costs of $12,000 for delivery and $40,000 for Installation were incurred. e. On September 30, 2021, Cord purchased a new automobile for $11,500. f. On September 30, 2021, a truck with a cost of $23,000 and a book value of $7,200 on date of sale was sold for $10,500. Depreciation for the nine months ended September 30, 2021, was $1,620. g. On December 20, 2021, equipment with a cost of $12,000 and a book value of $2,725 at date of disposition was scrapped without cash recovery Required: 1. Prepare a schedule analyzing the changes in each of the plant asset accounts during 2021. Do not analyze changes in accumulated depreciation and amortization 2. For each asset category, prepare a schedule showing depreciation or amortization expense for the year ended December 31, 2021 At December 31, 2020. Cord Company's plant asset and accumulated depreciation and amorization accounts had balances as follows: Aclared Depression Category Plant Asses larisation $ 165,000 $ Land Spots Buildings 1.000.000 312, SOD Tuyt 5,000 207,500 Lotongbiles and track 162,000 90, 225 Larehold aprovements 196,000 90,000 Depreciation methods and useful lives Buildings-150% declining balance: 25 years. Equipmen-Straight line: 10 years Automobiles and trucks-2005 declining balance, 5 years, all acquired after 2017 Leasehold Improvements-Straight line Land improvements-Suaight line Depreciation is computed to the nearest month and residual values are immaterial. Transactions during 2021 and other information a. On January 6, 2021. a plant facility consisting of land and building was acquired from King Corp. in exchange for 15.000 shares of Cord's common stock On this date. Cord's stock had a far value of $40 a share. Current assessed values of land and building for property tax purposes are $10,000 and $520,000, respectively. On March 25, 2021, new parking lots, streets, and sidewalks at the acquired plant factiny were completed at a total cost of $132.000 These expenditures had an estimated useful life of 12 years The leasehold improvements were completed on December 31, 2017 and had an estimated useful life of elgta years. The related tease, which would terminate on December 31 2023. was renewable for an addronal four-year term. On April 30, 2021. Card exercised the renewal option d. On July 1 2021 equtpment was purchased at a total invoice cost of $315,000 Additional costs of $12.000 for delivery and $40,000 for installation were incurred e On September 30, 2021. Cord purchased a new automobile for $1.500 1 On September 30, 2021 a truck with a cost of $23.000 and a book value of $2.200 on date of sale was sold for S10.500 Depreciation for the nine months ended September 30, 2021. was $1620 On December 20 2021 equipment wah a cost of $12.000 and a book value of $2.725 at date of disposition was scrapped without cash recovery Requtred. 1. Prepare a schedule analyzing the changes in each of the plant asset accounts during 2021. Do not analyze changes in accumulated depreciation and amonication 2 For each asset category, prepare a schedule showing depreciation or amortization expense for the year ended December 31 2021 Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare schedule analyzing the changes in each of the plant asset accounts during 2021. Do not analyze chan accumulated depreciation and amortization, CORD COMPANY At December 31, 2020, Cord Company's plant asset and accumulated depreciation and amortization accounts had balances as Plant Asset $ 165,000 Accumulated Depreciation and Amortization $ Category Land Land improvements Buildings Equipment Automobiles and trucks Leasehold improvements 1,000,000 625,000 162,000 196,000 218,900 307,500 90, 325 98,000 Depreclation methods and useful Ilves: Buildings-150% declining balance, 25 years. Equipment-Straight line, 10 years. Automobiles and trucks-200% declining balance. 5 years, all acquired after 2017. Leasehold Improvements-Straight line. Land Improvements-Straight line. Depreciation is computed to the nearest month and residual values are immaterial. Transactions during 2021 and other Informatie Depreciation methods and useful Ilves: Buildings-150% declining balance: 25 years. Equipment-Straight line: 10 years. Automobiles and trucks-200% declining balance, 5 years, all acquired after 2017 Leasehold Improvements-Straight line. Land improvements-Straight line. Depreciation is computed to the nearest month and residual values are immaterial. Transactions during 2021 and other information: a. On January 6, 2021, a plant facility consisting of land and building was acquired from King Corp. In exchange for 15,000 shares of Cord's common stock. On this date, Cord's stock had a fair value of $40 a share. Current assessed values of land and building for property tax purposes are $130,000 and $520,000, respectively. b. On March 25, 2021, new parking lots, streets, and sidewalks at the acquired plant facility were completed at a total cost of $132,000. These expenditures had an estimated useful life of 12 years. c. The leasehold Improvements were completed on December 31, 2017, and had an estimated useful life of eight years. The related lease, which would terminate on December 31, 2023, was renewable for an additional four-year term. On April 30, 2021. Cord exercised the renewal option d. On July 1, 2021, equipment was purchased at a total invoice cost of $315,000. Additional costs of $12,000 for delivery and $40,000 for Installation were incurred. e. On September 30, 2021, Cord purchased a new automobile for $11,500. f. On September 30, 2021, a truck with a cost of $23,000 and a book value of $7,200 on date of sale was sold for $10,500. Depreciation for the nine months ended September 30, 2021, was $1,620. g. On December 20, 2021, equipment with a cost of $12,000 and a book value of $2,725 at date of disposition was scrapped without cash recovery Required: 1. Prepare a schedule analyzing the changes in each of the plant asset accounts during 2021. Do not analyze changes in accumulated depreciation and amortization 2. For each asset category, prepare a schedule showing depreciation or amortization expense for the year ended December 31, 2021