Hilda Carr Associates surveys American eating habits The company's accounts include Land, Buildings, Office Equipment, and Communication Equipment, with a separate Accumulated Depreciation account for each asset During 2016, Hilda Carr completed the following transactions LOADING (Click the icon to view the transactions ) Record the transactions in the journal of Hilda Carr Associates (Record debits first, then credits Select the explanation on the last line of the journal entry table ) Jan 1 Purchased office equipment, $117,000 Paid $84,000 cash and financed the remaining with a note payable (Record a single compound journal entry ) Apr 1 Acquired land and communication equipment in a lump sum purchase Total cost was $430,000 paid in cash An independent appraisal valued the land at $338,625 and the communication equipment at $112,875 (Record a single compound journal entry ) Sep 1 Sold a building that cost $540,000 (accumulated depreciation of $275,000 through December 31 of the preceding year) Carr received $410,000 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 Before we record the sale of the building, we must record depreciation on the building through September 1, 2016 Now record the sale of the building on September 1 Now record the sale of the building on September 1 Dec 31 Record depreciation on the office equipment Office equipment is depreciated using the double declining balance method over five years with a $5,000 residual value 3 of 3 (1 complete) e company's accounts include Land, Buildings, Office Equipment, and Communication Equipment, with a ansactions i More Info Jan 1 Purchased office equipment, $117,000 Paid $84,000 cash and financed the remaining with a note payable Apr 1 Acquired land and communication equipment in a lump sum purchase To coat was $430,000 paid in cash An independent appraisal valued the land at $338,625 and the communication equipment at $112,875 Sep 1 Sold a building that cost $540,000 (accumulated depreciation of $275,000 through December 31 of the preceding year) Hilda Carr received $410,000 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 Dec 31 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 $5,000 residual value n esid Exp Print Done he input fields and then continue to the next

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Hilda Carr Associates surveys American eating habits. The company's accounts include Land, Buildings, Office Equipment, and Communication Equipment, with a separate Accumulated Depreciation account for

Hilda Carr Associates surveys American eating habits. The company's accounts include Land, Buildings, Office Equipment, and Communication Equipment, with a separate Accumulated Depreciation account for each asset. During 2016, Hilda Carr completed the following transactions:

LOADING... (Click the icon to view the transactions.)

Record the transactions in the journal of Hilda Carr Associates. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.)

Jan. 1: Purchased office equipment, $117,000. Paid $84,000 cash and financed the remaining with a note payable. (Record a single compound journal entry.)

Apr. 1: Acquired land and communication equipment in a lump-sum purchase. Total cost was $430,000 paid in cash. An independent appraisal valued the land at $338,625 and the communication equipment at $112,875. (Record a single compound journal entry.)

Sep. 1: Sold a building that cost $540,000 (accumulated depreciation of $275,000 through December 31 of the preceding year). Carr received $410,000 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.

Before we record the sale of the building, we must record depreciation on the building through September 1, 2016.

Now record the sale of the building on September 1.

Dec. 31: Record depreciation on the office equipment. Office equipment is depreciated using the double-declining-balance method over five years with a $5,000 residual value.

3 of 3 (1 complete) e company's accounts include Land, Buildings, Office Equipment, and Communication Equipment, with a ansactions: i More Info Jan. 1 Purchased office equipment, $117,000. Paid $84,000 cash and financed the remaining with a note payable. Apr. 1 Acquired land and communication equipment in a lump-sum purchase. To coat was $430,000 paid in cash. An independent appraisal valued the land at $338,625 and the communication equipment at $112,875. Sep. 1 Sold a building that cost $540,000 (accumulated depreciation of $275,000 through December 31 of the preceding year). Hilda Carr received $410,000 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. Dec. 31 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 $5,000 residual value. n. esid Exp Print Done he input fields and then continue to the next