Exercise 1 Chapter 10 Property Plant & Equipment (PPE) Classification of the following transactions in the appropriate accounts: (A) Land, (B) Land Improvement (C) Building. (D] Machinery and Equipment or (E) Accumulated Depreciation. Jokarie Corp. Incurred the following costs in 2021 Letter# Date 2021 Transaction January 12 Sales Tax (IV) on the purchase of machinery for the factory February 9 Paint and label a truck immediately after purchase March 18 Installation and testing of machinery for the factory. March 25 Commission paid to the selling agent on the purchase of land. June 30 Insurance premiums paid for the first year of insurance for the new truck July 19 Cost to fix the land of the purchased property. August 6 Cost of paving the parking lot of the new building under construction. Sep 2 Cost of cleaning, draining and filling the land October 9 Architect's fees for the construction of the building by the same company Quantity $ 4,000 800 2,300 4,500 980 8,300 19,400 12,500 12,000 Instructions: Indicate the bill of the account that Jokarie must debit for the cost of each of these transactions. Exercise 2 Chapter 10 Property Plant & Equipment (PPE) On May 1, 2021, Roprin Corp. acquired a property (land and Old Building) where it plans to construct a building for commercial premises. Roprin paid $ 90,000 in cash. The Old Building on the property was demolished at a cost of $ 10,200, the rubble material sold for $ 2,200. Additional costs incurred in acquiring this property include $ 2,300 for legal fees, $ 4,500 for commissions paid to the selling agent, $ 10,400 for architect's fees, and $ 12,000 for parking, lighting and streets Instructions: (a) Determine the amount to be presented in Roprin's Financial Statements for the cost of the Land. Descripcin transaccin Cantidad Total (b) For each cost that was not used for the Land account, indicate the account to be debited. Description Transaction Account Name Quantity