K 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 depreciable asset. During 2024, Hilda Cart Associates completed the following transactions (Click the icon to view the transactions.) Record the transactions in the journal of Hida Carr Associates. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Jan. 1: Purchased office equipment, $110.000. Paid $77,000 cash and financed the remainder with a note payable. (Record a single compound journal entry.) Date Accounts and Explanation Jan. 1 Office Equipment Cash Notes Payable To recont purchase of office equipment with cash and note payable Debit Credit 110,000 77,000 33,000 Apr 1 Acquired land and communication equipment in a lump-sum purchase. Total cost was $380,000 paid in cash. An independent appraisal valued the land at $299,250 and the communication equipment at 500,750 (Record a single compound journal entry) Date Apr 1 Land Accounts and Explanation Communication Equipment Cash To record purchase of land and communication equipment with cash Debit Credit 380,000 99,750 430,000 K 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 depreciable asset. During 2024, Hida Carr Associates completed the following transactions (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.) Sep 1: Sold a building that cost $650,000 (accumulated depreciation of $250,000 through December 31 of the preceding year). Hilda Car Associates received $430,000 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 $50,000 Before we record the sale of the building, we must record depreciation on the building through September 1, 2024 Date Accounts and Explanation Sep 1 Depreciation Expense-Building Accumulated Depreciation Building To record depreciation on building Now record the sale of the building on September 1 Debit Credit Date Accounts and Explanation Debit Credit Sep 1 Cash Accumulated Depreciation-Building Gein on Disposal To record sale of building Dec 31/ Record depreciation on the communication equipment Communication equipment is depreciated by the straight-line method over a five-year life with zero residual value Date Dec 31 Depreciation Expense-Communication Equipment Accounts and Explanation Accumulated Depreciation Communication Equipment Debit Credit K Hilda Carr Associates surveys American eating habits. The company's accounts include Land, Buildings, Office Equipment, and Communication Equipment, with a separate Accum Depreciation account for each depreciable asset. During 2024, Hilda Carr Associates completed the following transactions: (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 joumal entry table.) Date Sep.1 Cash Accounts and Explanation Accumulated Depreciation-Building Gain on Disposal KEE Debit Credit To record sale of building Dec. 31: Record depreciation on the communication equipment. Communication equipment is depreciated by the straight-line method over a five-year life with zero residual value. Date Accounts and Explanation Dec 31 Depreciation Expense-Communication Equipment Accumulated Depreciation-Communication Equipment Debit Credit To record depreciation on communication equipment 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. Date Accounts and Explanation Dec. 31 Communication Equipment Accumulated Depreciation-Office Equipment To record depreciation on office equipment Debit Credit Time Remaining: 01:12:49 www Date More info X Sep. 1 Cas Acc Jan. 1 Ga Apr. 1 To Sep. 1 Dec. 31: Reco Date Dec. 31 De Acc Purchased office equipment, $110,000. Paid $77,000 cash and financed the remainder with a note payable. Acquired land and communication equipment in a lump-sum purchase. Total cost was $380,000 paid in cash. An independent appraisal valued the land at $299,250 and the communication equipment at $99,750. Sold a building that cost $650,000 (accumulated depreciation of $250,000 through December 31 of the preceding year). Hilda Carr Associates received $430,000 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 $50,000. 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. er a five-year To i Dec. 31: Reco Date Dec 31 Comm Print Done ive years with a