Current Attempt in Progress Selected accounts included in the property, plant, and equipment section of Vaughn Corporation's balance sheet at December 31. 2019, had the following balances. Land Land improvements $348,000 162.400 1,276,000 1.113,600 Buildings Equipment 1. 2. During 2020, the following transactions occurred. Atract of land was acquired for $174,000 as a potential future building site. A plant facility consisting of land and building was acquired from Mendota Company in exchange for 23,200 shares of Vaughn's common stock. On the acquisition date, Vaughn's stock had a closing market price of $37 per share on a national stock exchange. The plant facility was carried on Mendota's books at $127,600 for land and $371.200 for the building at the exchange date. Current appraised values for the land and building, respectively, are $266,800 and $800,400. Items of machinery and equipment were purchased at a total cost of $464,000. Additional costs were incurred as follows. 3. Question 6 of 7 > -/12 $15,080 Freight and unloading Sales taxes Installation 23,200 30,160 4. 5. Expenditures totaling $110,200 were made for new parking lots, streets, and sidewalks at the corporation's various plant locations. These expenditures had an estimated useful life of 15 years. A machine costing $92,800 on January 1, 2012, was scrapped on June 30, 2020. Double-declining balance depreciation has been recorded on the basis of a 10-year life. A machine was sold for $23,200 on July 1, 2020. Original cost of the machine was $51,040 on January 1, 2017, and it was depreciated on the straight-line basis over an estimated useful life of 7 years and a salvage value of $2,320. 6. (a) Calculate the balance at December 31, 2020 in each of the following balance sheet accounts. (Hint: Disregard the related accumulated depreciation accounts.) (a) Calculate the balance at December 31, 2020 in each of the following balance sheet accounts. (Hint: Disregard the related accumulated depreciation accounts.) Balance at December 31, 2020 Land $ Land Improvements $ Buildings $ $ Equipment e Textbook and Media Attempts: 0 of 3 used Submit Answer Save for Later atv A SHE 27