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At December 31, 2022, Pronghorn Corporation reported the following plant assets. Land $ 3,498,000 Buildings $26,630,000 Less: Accumulated depreciationbuildings 13,904,550 12,725,450 Equipment 46,640,000 Less: Accumulated

At December 31, 2022, Pronghorn Corporation reported the following plant assets.

Land

$ 3,498,000

Buildings

$26,630,000

Less: Accumulated depreciationbuildings

13,904,550

12,725,450

Equipment

46,640,000

Less: Accumulated depreciationequipment

5,830,000

40,810,000

Total plant assets

$57,033,450

During 2023, the following selected cash transactions occurred.

Apr. 1 Purchased land for $2,565,200.
May 1 Sold equipment that cost $699,600 when purchased on January 1, 2016. The equipment was sold for $198,220.
June 1 Sold land for $1,865,600. The land cost $1,166,000.
July 1 Purchased equipment for $1,282,600.
Dec. 31 Retired equipment that cost $816,200 when purchased on December 31, 2013. No salvage value was received.

Enter the 2023 transactions in the tabular summary from part (a). Pronghorn 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.)

Assets

=

Liabilities

+

Stockholders' Equity

Retained Earnings

Cash

+

Land

+

Buildings

-

Accum. Depr. - Bldgs.

+

Equipment

-

Accum. Depr. - Equip.

=

+

Common Stock

+

Revenue

-

Expense

-

Dividend

Bal.

$3,498,000 $26,630,000 $(13,904,550) $46,640,000 $(5,830,000)

Apr. 1

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May 1

enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount select an option Gain on disposalAmortization expenseDepreciation expenseLoss on disposalResearch & development expense

May 1

enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount select an option Amortization expenseGain on disposalDepreciation expenseResearch & development expenseLoss on disposal

June 1

enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount select an option Research & development expense again on disposalDepreciation expenses on disposalAmortization expense

July 1

enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount select an option Loss on disposalAmortization expense research & development expense again on disposalDepreciation expense

Dec. 31

enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount select an option Amortization expenseDepreciation expenseGain on disposalResearch & development expenseLoss on disposal

Dec. 31

enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount select an option Loss on disposal gain on disposalDepreciation expense research & development expense amortization expense

Please dont forget the last column on the right. you need to select an option. thanks

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