der Company bought a building and the land on which the building is located for a total cath price of $384.000 The company paid trunder cons of 5.200. Renovation costs on the building were $24.900. An Independent appease provided are for the and $220.000 and building, 5690.000 before renovation Required: Loportions we cost of the property on the basis of the apprained values llengut el amounts es positive value) poned Buting 5 5 2. Prepare the journal entry to record the purchase of the building and and Induding all expenditures Assume that ansactions were for cash and that all purchases occurred at the start of the year of no entry is required for transaction event select "No Journal amry required in the first account fold) View ramai Journal entry worksheet 1 Record purchase al tulding and land. Goal 1 Render Cate 2. Compute depreciation of the building at the end of one yearing the straight line method Awese of years and an estimated residual value of 515200 4 What would be the carrying amount of the property (cing and and the end of you