Depreciation methods and useful lives: Buildings150% declining balance; 25 years. Machinery and equipmentStraight line; 10 years. Automobiles and trucks150% declining balance; 5 years, all acquired after 2014. Leasehold improvementsStraight line. Land improvementsStraight line. Depreciation is computed to the nearest month and residual values are immaterial. Transactions during 2018 and other information:

1. On January 6, 2018, a plant facility consisting of land and building was acquired from King Corp. in exchange for 23,000 shares of Cord's common stock. On this date, Cord's stock had a fair value of $50 a share. Current assessed values of land and building for property tax purposes are $182,500 and $547,500, respectively.
2. On March 25, 2018, new parking lots, streets, and sidewalks at the acquired plant facility were completed at a total cost of $180,000. These expenditures had an estimated useful life of 12 years.
3. The leasehold improvements were completed on December 31, 2014, and had an estimated useful life of eight years. The related lease, which would terminate on December 31, 2020, was renewable for an additional four-year term. On April 30, 2018, Cord exercised the renewal option.
4. On July 1, 2018, machinery and equipment were purchased at a total invoice cost of $323,000. Additional costs of $10,000 for delivery and $48,000 for installation were incurred.
5. On August 30, 2018, Cord purchased a new automobile for $12,300.
6. On September 30, 2018, a truck with a cost of $23,800 and a book value of $8,800 on date of sale was sold for $11,300. Depreciation for the nine months ended September 30, 2018, was $1,980.
7. On December 20, 2018, a machine with a cost of $16,000 and a book value of $2,925 at date of disposition was scrapped without cash recovery.

Required:

1. Prepare a schedule analyzing the changes in each of the plant asset accounts during 2018. Do not analyze changes in accumulated depreciation and amortization. 2. For each asset category, prepare a schedule showing depreciation or amortization expense for the year ended December 31, 2018.

I really don't understand this. Id appreciate any help/ explanation. These are the correct answers but I want to understand how each number is calculated. I am still very confused although I have solved it

Prepare a schedule analyzing the changes in each of the plant asset accounts during 2018. Do not analyze changes in accumulated depreciation and amortization. CORD COMPANY Analysis of Changes in Plant Assets For the Year Ending December 31, 2018 Balance Balance Decrease 12/31/17 173,000 Land $ $ 0 Increase $ 287,500 180,000 862,500 381,000 12/31/18 460,500 180,000 2,262,500 1,390,000 1,400,000 Land improvements Buildings Machinery and equipment Automobiles and trucks Leasehold improvements 1,025,000 16,000 170,000 12,300 23,800 158,500 212,000 $ 2,980,000 212,000 $ 4,663,500 $ 1,723,300 $ 39,800 Required 1 Required 2 ------------------- For each asset category, prepare a schedule showing depreciation or amortization expense for the year ended December 31, 2018. (Do not round intermediate calculations. Round your final answers to nearest whole dollar.) CORD COMPANY Depreciation and Amortization Expense For the Year Ending December 31, 2018 Land Improvements Buildings Machinery and equipment Automobiles and trucks 11,250 116,136 121,550 21,479 21,200 291 615 Leasehold improvements Total depreciation and amortization expense for 2018 $