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I cant figure out the rest At January 1, 2022, Sheridan Company reported the following property, plant, and equipment accounts: Accumulated depreciation-buildings $64,150,000 Accumulated depreciation-equipment

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I cant figure out the rest

At January 1, 2022, Sheridan Company reported the following property, plant, and equipment accounts: Accumulated depreciation-buildings $64,150,000 Accumulated depreciation-equipment 53,500,000 Buildings 97,500,000 Equipment 150,200,000 Land 22,400,000 The company uses straight-line depreciation for buildings and equipment, its year-end is December 31, and it makes adjusting entries annually. The buildings are and no salvage value; the equipment is estimated to have a 10-year useful life and no salvage value. During 2022, the following selected transactions occurred: Apr. 1 Purchased land for $4.60 million. Paid $1.150 million cash and issued a 3-year, 6% note payable for the balance. Interest on the note is payable annually each April 1. May 1 Sold equipment for $340,000 cash. The equipment cost $3.60 million when originally purchased on January 1, 2014. June 1 Sold land for $4.32 million. Received $660,000 cash and accepted a 3-year, 5% note for the balance. The land cost $1.20 million when purchased on June 1, 2016. Interest on the note is due annually each June 1. July 1 Purchased equipment for $2.40 million cash. Dec. 31 Retired equipment that cost $1 million when purchased on December 31, 2012. No proceeds were received. SHERIDAN COMPANY Statement of Financial Position (Partial) December 31, 2022 Property, plant and Equipment Land 25,800,000 Buildings 97,500,000 Less Accumulated Depreciation-Buildings Equipment 148,000,000 Less Accumulated Depreciation-Equipment 64400000 Total Property, plant and Equipment Type here to search o e To

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