I have asked for help regarding this problem over four times. Can someone please help with this question and provide the explanation for the correct answer. The incorrect answers are in bold. Thanks

The Thompson Corporation, a manufacturer of steel products, began operations on October 1, 2019. The accounting department of Thompson has started the fixed-asset and depreciation schedule presented below. You have been asked to assist in completing this schedule. In addition to ascertaining that the data already on the schedule are correct, you have obtained the following information from the company's records and personnel: (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.)

1. Depreciation is computed from the first of the month of acquisition to the first of the month of disposition.
2. Land A and Building A were acquired from a predecessor corporation. Thompson paid $852,500 for the land and building together. At the time of acquisition, the land had a fair value of $94,000 and the building had a fair value of $846,000.
3. Land B was acquired on October 2, 2019, in exchange for 3,400 newly issued shares of Thompsons common stock. At the date of acquisition, the stock had a par value of $5 per share and a fair value of $29 per share. During October 2019, Thompson paid $10,800 to demolish an existing building on this land so it could construct a new building.
4. Construction of Building B on the newly acquired land began on October 1, 2020. By September 30, 2021, Thompson had paid $250,000 of the estimated total construction costs of $340,000. Estimated completion and occupancy are July 2022.
5. Certain equipment was donated to the corporation by the city. An independent appraisal of the equipment when donated placed the fair value at $17,600 and the residual value at $2,400.
6. Equipment As total cost of $111,000 includes installation charges of $590 and normal repairs and maintenance of $16,000. Residual value is estimated at $4,800. Equipment A was sold on February 1, 2021.
7. On October 1, 2020, Equipment B was acquired with a down payment of $4,400 and the remaining payments to be made in 10 annual installments of $4,400 each beginning October 1, 2021. The prevailing interest rate was 9%.

Required: Supply the correct amount for each answer box on the schedule. (Round your intermediate calculations and final answers to the nearest whole dollar.)

Answer is complete but not entirely correct.

THOMPSON CORPORATION

Fixed Asset and Depreciation Schedule

For Fiscal Years Ended September 30, 2020, and September 30, 2021

Assets

Acquisition Date

Cost

Residual

Depreciation Method

Estimated Life in Years

Depreciation for Year Ended 9/30

2020

2021

Land A

10/1/2019

$85,250selected answer correct

N/A

not applicable

N/A

N/A

N/A

Building A

10/1/2019

767,250selected answer correct

$61,650

Straight-line

9selected answer incorrect

$14,400

$0selected answer incorrect

Land B

10/2/2019

98,000selected answer incorrect

N/A

not applicable

N/A

N/A

N/A

Building B

Under construction

250,000 to date

Straight-line

30

0selected answer correct

Donated Equipment

10/2/2019

17,600selected answer correct

2,400

200% Declining balance

10

2,640selected answer incorrect

2,244selected answer incorrect

Equipment A

10/2/2019

95,000selected answer correct

4,800

Sum-of-the years-digits

10

16,400selected answer correct

4,920selected answer correct

Equipment B

10/1/2020

56,475selected answer incorrect

Straight-line

15

3,765selected answer incorrect