Can I have an answers for Questions PSA8.2 (a 1,2,3)

Financial Accounting: Reporting, Analysis and Decision Making, 6th Edition Aa a PSA8.2 Journalise equipment transactions related to purchase, sale, scrapping and A ) depreciation. LO2, 4, 8, 14 At 30 June 2018, Porter Ltd reported the following PPE assets. Land Buildings Less: Accumulated depreciation-buildings Equipment Less:Accumulated depreciation-equipment Total PPE assets $ 4 000 000 $28 500 000 12 100 000 48 000 000 5 000000 16 400 000 43000 000 $63 400 00 During the financial year ending 30 June 2019, the following selected cash transactions occurred: Purchased land for $2 630 000. Sold equipment that cost $675 000 cash when purchased on 1 January 2012. The equipment was sold for $350 000 cash. Sold land purchased on 1 June 2004 for $1 800 000. The land cost cash $300 000. Purchased equipment for $1 000 000. 1 Aug. Oct. 1 1 Dec. 1 Jan. 551 0 3875 000 cash when purchased on I January 2zoz. The equipment was sota for $350 000 cash. Sold land purchased on 1 June 2004 for $1 800 000. The land cost cash $300 000. Purchased equipment for $1 000 000. Scrapped equipment that cost $470 000 (GST exclusive) when purchased on 31 December 2007. No residual value was received. Dec. 1 Jan. 1 June 30 Required For the transactions complete the following. a. 1. Journalise the transactions. (Hint:You may wish to set up T accounts, post beginning balances, and then post 2018-19 transactions.) Porter uses straight-line depreciation for buildings and equipment. The buildings are estimated to have a 40-year useful life and no residual value; the equipment is estimated to have a 10-year useful life and no residual value. Update depreciation on assets disposed of at the time of sale or retirement. 2. Record adjusting entries for depreciation for 2018-19. 3. Prepare the PPE assets section of Porter Ltd's statement of financial position at 30 June 2019. 552