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At December 31, 2022, Culver Corporation reported the following plant assets. During 2023, the tollowing selected cash transactions occurred. Apr. 1 Purchased land for $2.785.200.

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At December 31, 2022, Culver Corporation reported the following plant assets. During 2023, the tollowing selected cash transactions occurred. Apr. 1 Purchased land for $2.785.200. May 1 Sold equipment that cost $759,600 when purchased on Jaruary 1, 2016. The equipment was sold for $215,220. June 1 Sold land for $2,025,600. The land cost $1,266,000. July 1 Purchased equipment for $1,392,600 Doc. 31 Retred equipment that cont 5886,200 when purchsed on December 31,2013 No salvgge value was received. Enter the 2023 transactions in the tabular summary from part (a). Culver 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. (If a transaction causes a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced.) Enter the 2023 transactions in the tabular summary from part (a). Culver 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. (If a transaction couses a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced.)

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