Journal entry worksheet

$1$

$2$

$3$

$4$

Record the year$-$end adjusting entry for the depreciation expense of Building

Note: Enter debits before credits. Journal entry worksheet

$1$

$2$

$3$

$4$

Record the year$-$end adjusting entry for the depreciation expense of Building

Note: Enter debits before credits. Journal entry worksheet

$1$

$2$

$3$

$4$

Record the year$-$end adjusting entry for the depreciation expense of Land

Improvements $1.$

Note: Enter debits before credits.Journal entry worksheet

$1$

$2$

$3$

Record the year$-$end adjusting entry for the depreciation expense of Land

Improvements $2.$

Note: Enter debits before credits.!

Required Information

$[$The following information applies to the questions displayed below.$]$

On January $1,$ Mitzu Company pays a lump$-$sum amount of $$2,800,000$ for land. Building $1,$ Building $2,$ and Land

Improvements $1.$ Building $1$ has no value and will be demolished. Building $2$ will be an office and is appraised at $$590,000.$

with a useful life of $20$ years and a $$85\mathrm{.}000$ salvage value. Land Improvements $1$ is valued at $$590\mathrm{.}000$ and is expected to

last another $20$ years with no salvage value. The land is valued at $$1,770,000.$ The company also incurs the following

additional costs.

Prepare a single journal entry to record all the incurred costs assuming they are paid in cash on January $1.$