can you please help me to get the Dec.31 answers
Record the transactions in the journal of Ellie Johnson Associates. (Record debits first, then credits. Select the explanation on the la Debit Credit To record depreciation on building. Now record the sale of the building on September 1. Date Accounts and Explanation Sep. 1 Cash Accumulated Depreciation-Building Building Gain on Disposal To record sale of building. 420,000 293,250 520,000 193,250 Dec. 31: Record depreciation on the communication equipment. Communication equipment is depreciated by the straight-line meth Debit Credit Date Accounts and Explanation Dec. 31 Depreciation Expense-Communication Equipment Accumulated Depreciation-Communication Equipment To record depreciation on communication equipment. Choose from any list or enter any number in the input fields and then click Check Answer Clear All 1 part remaining line of the journal entry table.) * More Info - C Jan. 1 Apr. 1 Sep. 1 Purchased office equipment, $113,000. Paid $80,000 cash and financed the remainder with a note payable. Acquired land and communication equipment in a lump-sum purchase. Total cost was $310,000 paid in cash. An independent appraisal valued the land at $244.125 and the communication equipment at $81,375. Sold a building that cost $520,000 (accumulated depreciation of $285,000 through December 31 of the preceding year). Ellie Johnson Associates received $420,000 cash from the sale of the building. Depreciation is computed on a straight-line basis. The building has a 40-year useful life and a residual value of $25,000. Recorded depreciation as follows: Communication equipment is depreciated by the straight-line method over a five-year life with zero residual value. Office equipment is depreciated using the double-declining- balance method over five years with a $1,000 residual value. Dec. 31 Print Done