Capital Expenditures and Revenue Expenditures Quality Move Company made the following expenditures on one of its delivery trucks: Mar. 20. Replaced the transmission at a cost of $4,855. June 11. Paid $1,255 for installation of a hydraulic lift. Nov. 30. Paid $62 to change the oil and air filter. Prepare the journal entries for each expenditure. If an amount box does not require an entry, leave it blank. Mar. 20 Accumulated Depreciation-Delivery Truck Cash June 11 Delivery Truck Cash Nov. 30 Repairs and Maintenance Expense Cash Feedback Check My Work Previous Save and Exit Submit Assignment for Gradine Depreciation by Two Methods A Kubota tractor acquired on January 8 at a cost of $315,000 has an estimated useful life of 10 years. Assuming that it will have no residual value. a. Determine the depreciation for each of the first two years by the straight-line method. First Year Second Year b. Determine the depreciation for each of the first two years by the double-declining- balance method. Do not round the double-declining balance rate. If required, round your final answers to the nearest dollar. First Year Second Year Straight-Line Depreciation Rates Convert each of the following estimates of useful life to a straight-line depreciation rate, stated as a percentage, assuming that the residual value of the fixed asset is to be ignored: (a) 4 years, (b) 8 years, (c) 10 years, (d) 16 years, (e) 25 years, (f) 40 years, "(9) 50 years. If required, round your answers to two decimal places. Years Percentage 4 years 8 years 10 years 16 years 25 years 40 years 50 years Determining Cost of Land On-Time Delivery Company acquired an adjacent lot to construct a new warehouse, paying $28,000 in cash and giving a short-term note for $251,000. Legal fees paid were $1,525, delinquent taxes assumed were $10,900, and fees paid to remove an old building from the land were $16,900. Materials salvaged from the demolition of the building were sold for $4,200. A contractor was paid $848,200 to construct a new warehouse. Determine the cost of the land to be reported on the balance sheet