Exercise 7-3A Allocate costs in a basket purchase (L07-1) Red Rock Bakery purchases land, building and equipment for a single purchase price of $240.000. However, the estimated fair values of the land, building and equipment are $85.000. 5187000 and $68.000, respectively, for a total estimated fair value of $340.000 Required: Determine the amounts Red Rock should record in the separate accounts for the land, the building, and the equipment. Estimated Fair Value Allocation Percentage Amount of Basket Purchase Recorded Amount Land Building Equipment Total Brief Exercise 7-9 Calculate partial-year depreciation (L07-4) El Tapitio purchased restaurant furniture on September 1, 2021, for $36.000. Residual value at the end of an estimated 10-year service life is expected to be $5.100. Calculate depreciation expense for 2021 and 2022, using the straight-line method, and assuming a December 31 year-end. (Do not round intermediate calculations.) 2021 2022 Depreciation expense 00 8 Exercise 7-13A Determine straight-line depreciation for partial periods (LO7-4) point Tasty Subs acquired a delivery truck on October 1, 2021 for $21000. The company estimates a residual value of $2.400 and a styear service life. Required: Calculate depreciation expense using the straight-line method for 2021 and 2022, assuming a December 31 year-end. 2021 Depreciation expense 2022 References