deprectiation

Che The property.plant, and equipment section of the Jasper Company's December 31, 2017, balance sheet contained the following: $116,660 Property, plant, and equipment: Land Building Less: Accumulated depreciation Equipment Less: Accumulated depreciation Total property, plant, and equipment $936,089 (180,000) 163,000 756,00 The land and building were purchased at the beginning of 2013. Straight-line depreciation is used and a residual value of $36,000 for the building is anticipated. The equipment is comprised of the following three machines: Life in Years Machine 101 102 103 Cost $53,800 85,000 24,200 Date Acquired 1/1/15 6/30/16 9/1/17 Residual Value $ 6,600 7,600 2,600 The straight-line method is used to determine depreciation on the equipment. On March 31, 2018, Machine 102 was sold for $59.000 Farly in 2018 the useful life of machine 101 was revised to five vears in total and the residual value was revised to zero The straight-line method is used to determine depreciation on the equipment. On March 31, 2018, Machine 102 was sold for $59,000 Early in 2018, the useful life of machine 101 was revised to five years in total, and the residual value was revised to zero. Required: 1. Calculate the accumulated depreciation on the equipment at December 31, 2017 2. Prepare the journal entry to record 2018 depreciation on machine 102 up to the date of sale. 3. Prepare a schedule to calculate the gain or loss on the sale of machine 102 4. Prepare the journal entry for the sale of machine 102 5. Prepare the 2018 year-end journal entries to record depreciation on the building and equipment. Complete this question by entering your answers in the tabs below. arences Required 1 Required 2 Required 3 Required 4 Required 5 Calculate the accumulated depreciation on the equipment at December 31, 2017 Accumulated depreciation Required 2 >