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help plz Problem 10-3 (Static) Acquisition costs [LOIO-I, 10-4, 10-6) The plant asset and accumulated depreclallon accounts of Pell Corporallon had the followlng balances at
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Problem 10-3 (Static) Acquisition costs [LOIO-I, 10-4, 10-6) The plant asset and accumulated depreclallon accounts of Pell Corporallon had the followlng balances at December 31, 2023: BSC, egg Equ i , egg 112, egg Land impr Building P1 ant A et s gse,eee lge , 1, sge,eee ISe , eoe ated as, egg Transactlons durlng 2024 were os follows: a. On January 2, 2024, equlpment wes purchased at a total Involce cost ofS260.OOO, whlch Included $5,500 charge for frelgi-lt Installatlon costs of $27,000 were Incurred In eddltlon to the Involce cost b. On Merch 31, 2024, a smell storege building wes donatee to the company The person donotlng the bulldlng orlglnolly purchased It three years ago for S25,OOO_ The falr value of the Oulldlng on the day of the donatlon was S17,OOO c. On Mey 1, 2024, expendltures of $50,000 were made to repave parklng lots at Pell's plant locellon_ The work wes necessllated by damage caused by severe wlnter weather. The repalr doesn't provlde future benefits beyond those orlglnalty antlclpatec[ d. On November 1, 2024, Pell acgulred tract of lend WIT on exlstlng bulldlng In exchange for 10,000 shares of Pell's common stock that had market prlce of S38 per shore. Pell pold legel fees end tltle Insurance totellng S23,OOO_ Shortly after acgulsltlon, the bulldlng was razed at a cost of S35,OOO In entlclpetlon of new bulldlng constructlon In 2025 e. On December 31, 2024, Pell purchased small storage Oulldlng by glvlng $15,250 cash end an old automoOlIe purchased for SIB,OOO In 2017 Depreclotlcn on the old automoblle recorded through December 31, 2024. totaled S13,500. The felr value of the old eutomoblle was S3.750_ Requlred: Prepare a schedule analyzlng the changes In each of the plant ossets durlng 2024. Analysis of Ctmges in For the Ended 31: 2024 12/31/ l_snd imp' Automobiles 1/2023 1.500.ooo 1,153.000
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