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Fisk Manufacturing purchases a large lot on which an old building is located as part of its plans to build a new plant. The negotiated
Fisk Manufacturing purchases a large lot on which an old building is located as part of its plans to build a new plant. The negotiated purchase price is $209,000 for the lot plus $104,000 for the old building. The company pays $40,400 to tear down the old building and $59,722 to fill and level the lot. It also pays a total of $1,663,150 in construction coststhis amount consists of $1,564,400 for the new building and $98,750 for lighting and paving a parking area next to the building. Required: Prepare a single journal entry to record these costs incurred by Fisk, all of which are paid in cash. (Omit the "$" sign in your response.) General Journal Debit Credit 2- In early January 2009, Sanchez Builders purchases equipment for $102,000 to use in operating activities for the next five years. It estimates the equipment's salvage value at $21,000. Required: Prepare a table showing depreciation and book value for each of the five years assuming straight-line depreciation. (Omit the "$" sign in your response.) Year Annual Depreciation Year-End Book Value 2009 2010 2011 2012 2013 Total 3-In early January 2009, Sanchez Builders purchases computer equipment for $102,000 to use in operating activities for the next five years. It estimates the equipment's salvage value at $21,000. Required: Prepare a table showing depreciation and book value for each of the five years assuming double-declining-balance depreciation. (Leave no cells blank - be certain to enter "0" wherever required. Omit the "$" sign in your response.) Year Beginning-year Book Value Annual Depreciation Year-End Book Value 2009 2010 2011 2012 2013 4-Sarita Company installs a computerized manufacturing machine in its factory at the beginning of the year at a cost of $67,000. The machine's useful life is estimated at 10 years, or 420,000 units of product, with a $4,000 salvage value. During its second year, the machine produces 29,900 units of product. Required: Determine the machines second-year depreciation using the units-of-production method. (Omit the "$" sign in your response.) Machines second-year depreciation $=? Total
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