f Required information Required: $$

Allocate the costs incurred by Mitzu to the appropriate columns and total each column. Journal entry worksheet

$1$

Record the cost of the plant assets, paid in cash.

Note: Enter debits before credits.

$\backslash$table$[[$Date$,$General Journal,Debit,Credit$],[$January $01,,,],[,,,],[,,,],[,,,],[,,,],[,,,]]$ Journal entry worksheet

$1$

$2$

$3$

$4$

Record the year$-$end adjusting entry for the depreciation expense of Building $2.$

Note: Enter debits before credits.

$\backslash$table$[[$Date$,$General Journal,Debit,Credit$],[$December $31,,,],[,,,],[,,,],[,,,],[,,,]]1$ Record the year$-$end adjusting entry for the depreciation

expense of Building $2.$

$2$ Record the year$-$end adjusting entry for the depreciation

expense of Building $3.$

$3$ Record the year$-$end adjusting entry for the depreciation

expense of Land Improvements $1.$

$4$ Record the year$-$end adjusting entry for the depreciation

expense of Land Improvements $2.$

$[$The following information applies to the questions displayed below.$]$

On January $1,$ Mitzu Company pays a lump$-$sum amount of $$2,600,000$ for land, Building $1,$ Building $2,$ and Land

Improvements $1.$ Building $1$ has no value and will be demolished. Building $2$ will be an office and is appraised at

$$796,500,$ with a useful life of $20$ years and a $$80,000$ salvage value. Land Improvements $1$ is valued at

$$383,500$ and is expected to last another $13$ years with no salvage value. The land is valued at $$1,770,000.$ The

company also incurs the following additional costs.

Cost to demolish Building $1$

Cost of additional land grading

Cost to construct Building $3,$ having a useful life of $25$ years and a $$398,000$ salvage value $2,242,000$

$189,400$

Cost of new Land Improvements $2,$ having a $20-$year useful life and no salvage value