cost : 880,000

Question 12 [16 points) Souto na buding that has a careg value on October 31, 2015 of $470.000 foot $850.000, commutated depreciation 410.000) For each of the following independent situations, prepare the journal entry to record the transaction. Assume that no time prior to the transaction or transactions cour on October 31, 2015 Enter an appropriate description when entering the tracone in the journal. Debe entered in the format de Sanuary 15 would be Please make sure your final answers) are accurate to 2 decimal places . The local government expropriated the building to provide land for an expansion of the reparatie Compensation of $600,000 w pad to Soxo b. The building was sold to Segura Corporation for $550,000. Due to tone mould problem, the building was deemed unsafe for use and was abandoned Management does not believe there is any post of the building og er met from it. d. SouthCo donated the building to the local government for use a future school site. Al the time of the donation, the fair value of the building was $40,000 Question 13(14 points) December 2015, the management of North Co conducted a review of its property, plant and equipment and determined that one machine shows evidence of impairment. The following information ains to this machine Question 12 [16 points) Souto na buding that has a careg value on October 31, 2015 of $470.000 foot $850.000, commutated depreciation 410.000) For each of the following independent situations, prepare the journal entry to record the transaction. Assume that no time prior to the transaction or transactions cour on October 31, 2015 Enter an appropriate description when entering the tracone in the journal. Debe entered in the format de Sanuary 15 would be Please make sure your final answers) are accurate to 2 decimal places . The local government expropriated the building to provide land for an expansion of the reparatie Compensation of $600,000 w pad to Soxo b. The building was sold to Segura Corporation for $550,000. Due to tone mould problem, the building was deemed unsafe for use and was abandoned Management does not believe there is any post of the building og er met from it. d. SouthCo donated the building to the local government for use a future school site. Al the time of the donation, the fair value of the building was $40,000 Question 13(14 points) December 2015, the management of North Co conducted a review of its property, plant and equipment and determined that one machine shows evidence of impairment. The following information ains to this machine