For a$.$ I need a continuity schedule working paper for PPE and intangible assets please.

The Case: Britney$$s Company audit of Property, Plant, and Equipment

Britney$$s Company has prepared the fixed assets and depreciation as shown in Exhibit $1.$ The following

information is available:

$$ The land was purchased eight years ago when Building $1$ was erected. The location wasthen

remote, but it is now bordered by a major freeway. The appraised value is $$35$ million.

$$ Building $1$ has an estimated useful life of $35$ years and no residual value.

$$ Building $2$ was built by a local contractor this year. It also has an estimated useful life of $35$ years

with no residual value. The company occupied it on May $1$ this year.

$$ Equipment A was purchased January $1$ six years ago, when the estimated useful life was eight

years with no residual value. It was sold on May $1$ for $$500,000.$

$$ The computer system was placed in operation as soon as Equipment A was sold. It is estimated

to be in use for six years with no residual value at the end.

$$ The company estimated the useful life of the press at $20$ years with no residual value.

$$ Truck $1$ was sold during the year for $$1,000.$

$$ Truck $2$ was purchased on July $1.$ The company expects to use it for five years and then sell it for

$$2,000.$

$$ All amortization is calculated by the straight$-$line method using months of service.

Required:

a$.$ Audit the depreciation calculations. Are there any errors? Put the errors in the form of an

adjusting journal entry, assuming $90\%$ of the depreciation on the buildings on the buildings and

the press has been charged to cost of goodssold and $10\%$ is still capitalized in inventory, and the

other depreciation expense is classified as general and administrative expense. You must create

a working paper similar to the one in exhibit $12-10$ and properly document your work.

b$.$ List two audit procedures for auditing the fixed asset additions.

c$.$ What will an auditor expect to find in the Gain and Loss on Sale of Assets account?

Exhibit $1-$ PPE Continuity ScheduleThe Case: Britney's Company audit of Property, Plant, and Equipment

Britney's Company has prepared the fixed assets and depreciation as shown in Exhibit $1.$ The following

information is available:

The land was purchased eight years ago when Building $1$ was erected. The location was then

remote, but it is now bordered by a major freeway. The appraised value is $$35$ million.

Building $1$ has an estimated useful life of $35$ years and no residual value.

Building $2$ was built by a local contractor this year. It also has an estimated useful life of $35$ years

with no residual value. The company occupied it on May $1$ this year.

Equipment A was purchased January $1$ six years ago, when the estimated useful life was eight

years with no residual value. It was sold on May $1$ for $$500,000.$

The computer system was placed in operation as soon as Equipment A was sold. It is estimated

to be in use for six years with no residual value at the end.

The company estimated the useful life of the press at $20$ years with no residual value.

Truck $1$ was sold during the year for $$1,000.$

Truck $2$ was purchased on July $1.$ The company expects to use it for five years and then sell it for

$$2,000.$

All amortization is calculated by the straight$-$line method using months of service.

Required:

a$.$ Audit the depreciation calculations. Are there any errors? Put the errors in the form of an

adjusting journal entry, assuming $90\%$ of the depreciation on the buildings on the buildings and

the press has been charged to cost of goods sold and $10\%$ is still capitalized in inventory, and the

other depreciation expense is classified as general and administrative expense. You must create

a working paper similar to the one in exhibit $12-10$ and properly document your work.

b$.$ List two audit procedures for auditing the fixed asset additions.

c$.$ What will an auditor expect to find in the Gain and Loss on Sale of Assets account?Exhibit $1-$PPE Continuity Schedule

$\backslash$table$[[$Property$,$ Plant, and Equipment Assets and Depreciation$],[,$Asset Costs $(000$s$),$Accumulated depreciation $(000$s$)],[$Description$,\backslash$table$[[$Beginning$],[$Balance$]],$Added,Sold,$\backslash$table$[[$Ending$],[$Balance$]],\backslash$table$[[$Beginning$],[$Balance$]],$Added,Sold,$\backslash$table$[[$Ending$],[$Balance$]]],[$Land$,10,000,,,10,000,,,,],[$Building $1,30,000,,,30,000,6,857,857,,7,714],[$Building $2,,42,000,,42,000,,800,,800],[$Equipment$,5,000,,5,000,0,3,750,208,3,958,0],[\backslash$table$[[$Computer$],[$system$]],,3,500,,3,500,,583,,583],[$Press$,1,500,,,1,500,300,150,,450],[$Truck $1,15,,15,0,15,,15,0],[$Truck $2,,22,,22,,2,,2],[$Total$,46,{515}_{?},45,{522}_{?},5,{015}_{?},87,{022}_{?},10,922,2,{600}_{?},3,{973}_{?},9,549]]$