Modules > Module 6 - Accounting for Assets: Plant, Property, & Equi... > 6.7 - Homework: MyAccountingLab Homework 6 MGMT 210 Financial Accounting - Jan 2020 - Online Chrystina Hjelm & 02/26/20 1:01 PM Homework: 6.6 - Homework: MyAccountingLabTM Homework Save 7 of 12 (8 complete) Score: 0 of 10 pts P9-32A (similar to) HW Score: 52.33%, 52.33 of 100 pts Question Help Gloria Roper 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 2018, Gloria Roper Associates completed the following transactions: Click the icon to view the transactions.) Record the transactions in the journal of Gloria Roper Associates. (Record debits first, then credits. Select the explanation on the last line of the journal entry table) Jan. 1: Purchased office equipment, $114,000. Paid $81,000 cash and financed the remainder with a note payable (Record a single compound journal entry Date Accounts and Explanation Debit Credit Jan 1 | Choose from any list or enter any number in the input fields and then click Check Answer 5 5 remaining parts Check Answer Next Previous 7 of 12 (8 complete) HW Score: 52.33% i More Info tes mula view nun owin ons is e of fice mpou Jan. 1 Purchased office equipment, $114,000. Paid $81,000 cash and financed the remainder with a note payable. Apr. 1 Acquired land and communication equipment in a lump-sum purchase. Total cost was $440,000 paid in cash. An independent appraisal valued the land at $346,500 and the communication equipment at $115,500. Sep. 1 Sold a building that costy$550,000 (accumulated depreciation of $260,000 through December 31 of the preceding year). Gloria Roper Associates received $360,000 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 $40,000. 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 vears with a $6.000 residual value or Print Done ck Ans