granny Connie associates service American eating habits. The company accounts include land buildings, office equipment and communications equipment with a separate accumulated depreciation amount for each depreciable asset. 2018 grannys Kenny's associates completed the following transactions.

record the transactions as stated on pictures.

int Jan. 1 Apr. 1 and Purchased office equipment, $117,000. Paid $73,000 cash and financed the remainder with a note payable. Acquired land and communication equipment in a lump-sum purchase. Total cost was $340,000 paid in cash. An independent appraisal valued the land at $267.750 and the communication equipment at $89,250. Sold a building that cost $555,000 (accumulated depreciation of $255,000 through December 31 of the preceding year). Granny Carney Associates received $350,000 cash from the sale of the building. Depreciation is computed on a straight-line basis. The building has a 40-year useful life and a residual value of $75,000 Recorded depreciation as follows: Communication equipment is depreciated by the straight-line method over a five-year life with zero residual value, Office equipment is depreciated using the double-declining-balance method over five years with a $3,000 residual value. Sep. 1 Dec. 31 Jan. 1: Purchased office equipment. $117.000. Paid $73.000 cash and financed the remainder with a note payable. (Record a single compound journal entry) Date Accounts and Explanation Debit Credit Jan 1 Apr 1: Acquired land and communication equipment in a lump-sum purchase. Total cost was $340,000 paid in cash. An independent appraisal valued the land at $267.7 communication equipment at $89,250 (Record a single compound journal entry) Date Accounts and Explanation Debit Credit Apr1 ecord the de Associates Select the expo ep. 1- Sold a building that cost $555,000 (accumulated depreciation of $255,000 through December 31 of the preceding year) Granny Camey Associates received $350.00 + sale of the bulding. Depreciation is computed on a straight-line basis. The building has a 40-year useful life and a residual value of $75,000 efore we record the sale of the building, we must record depreciation on the building through September 1, 2018 Date Accounts and Explanation Debit Credit Sep 1 Now record the sale of the building on September 1 Date Accounts and explanation Debit Credit Want on the lastne of the ouma entry table hic Dec. 31: Record depreciation on the communication equipment Communication equipment is depreciated by the straight-line method over a five-year life with zero residual value Date Accounts and Explanation Debit Credit Dec. 31 sun Dec 31. Record depreciation on the office equipment Office equipment is depreciated using the double declining balance method over five years with a $3.000 residust value Date Accounts and Explanation Debit Credit Dec. 31 his any number in thiul fields and then continue to the next