Check my work 4 The Thompson Corporation, a manufacturer of steel products, began operations on October 1, 2019. The accounting department of Thompson has started the fixed-asset and depreciation schedule presented below. You have been asked to assist in completing this schedule. In addition to ascertaining that the data already on the schedule are correct, you have obtained the following information from the company's records and personnel (EV of $1. PV of $1. EVA of $1. PVA of $1. EVAD of 51 and PVAD of $1) (Use appropriate factor(s) from the tables provided.) a. Depreciation is computed from the first of the month of acquisition to the first of the month of disposition b. Land A and Building A were acquired from a predecessor corporation. Thompson paid $882.500 for the land and building together At the time of acquisition, the land had a fair value of $97,000 and the building had a fair value of $873,000 c. Land B was acquired on October 2, 2019. In exchange for 3.700 newly issued shares of Thompson's common stock. At the date of acquisition, the stock had a par value of $5 per share and a fair value of $32 per share. During pctober 2019, Thompson paid $11100 to demolish an existing building on this land so it could construct a new building. d. Construction of Building B on the newly acquired land began on October 1, 2020. By September 30, 2021, Thompson had paid $280,000 of the estimated total construction costs of $370,000. Estimated completion and occupancy are July 2022 e. Certain equipment was donated to the corporation by the city. An independent appraisal of the equipment when donated placed the fair value at $18,000 and the residual value at $2.700. t Equipment A's total cost of $105,000 includes installation charges of $620 and normal repairs and maintenance of $12,600 Residual value is estimated at $5,500. Equipment A was sold on February 1, 2021 9. On October 1, 2020, Equipment B was acquired with a down payment of $4.700 and the remaining payments to be made in 10 annual installments of $4700 each beginning October 1, 2021. The prevailing interest rate was 9% Required: Supply the correct amount for each answer box on the schedule. (Round your intermediate calculations and final answers to the nearest whole dollar.) THOMPSON CORPORATION Fixed Asset and Depreciation Schedule For Fiscal Years Ended September 30, 2020, and September 30, 2021 Depreciation for aarai Am 4 Residual value is estimated at $5,500. Equipment A was sold on February 1, 2021 Q. On October 1, 2020, Equipment was acquired with a down payment of $4,700 and the remaining payments to be made in 90 annual instaliments of $4.700 each beginning October 1, 2021. The prevailing interest rate was 9% 3.33 port Required: Supply the correct amount for each answer box on the schedule. (Round your intermediate calculations and tinat answers to the nearest whole dollar.) 0106 THOMPSON CORPORATION Fred Asset and Depreciation Schedule For Fiscal Years Ended September 30, 2020, and September 30, 2021 Print References Acquisition Date Assets Depreciation for Year Ended to Cost Depreciation Method Residual Estimated Life in Years $ NA NA 73.950 NIA 2020 2021 NIA NA $ 14.700 $ 14.700 NA NA Land A Building Land Building Donated Equipment Equipment Equipment B 10/1/2019 10/1/2019 10/2/2019 Under construction 10/2/2019 10/2/2019 10/1/2020 88.250 794250 5 129 500 280,000 to date 18.800 92.400 not applicable Straight-line not applicable Straight line 200% Declining balance Sum of the yours-digits Straight line NA 30 10 2,700 5,500 10 15