More Info Jan. 1 Apr. 1 Purchased office equipment, $118,000. Paid $81,000 cash and financed the remainder with a note payable. Acquired land and communication equipment in a lump-sum purchase. Total cost was $410,000 paid in cash. An independent appraisal valued the land at $322,875 and the communication equipment at $107,625. Sold a building that cost $560,000 (accumulated depreciation of $270,000 through December 31 of the preceding year). Sophie Miller Associates received $330,000 cash from the sale of the building. Depreciation is computed on a straight-line basis. The building has a 40-year usefuffife and a residual value of $50,000. 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 $6,000 residual value. Sep. 1 Dec. 31 Print Done ation of $270,000 through December 31 of the preceding year). Sophie Miller Associates received $330,000 cash fror esidual value of $50,000. and then continue to the next question. Sophie Messias surveys American enting habits. The company's contenclude Land, Buildings. One omert, and Communication Equipment, with a separate Accumulated in court order During 2016, Beple Mile completed the following transaction thlon to view the tractions) Record the transaction in the journal of Sochie Miler Annocial Record debits first, then credia Select the explanation on the last line of the joutal entry utile ant Purchased the summer. 3118.000. Pad 581.000 cash and traced the remainder with a note payable (Record a sonde compound journal entry) Accounts and explanation Dobit Credit Apr 1 Aired land and communication equipment in a lumpum purchase. Total cost was $410,000 paid in cash. An independent appris valued tuland X22.A and recommunication 2 component Account and Explanation Dobit Credit Art Destintru tot centrum sro.com came to practing your first recent 320.000 com es rebus Deprem of 50.000 Choose from any conter urber in the route and then go to the need to Macbook AS BO 888 - >> $ 4 % 5 & 7 2 3 6 0 8 9 R W T Y U P 0 Serteld n building that cont $60.000 (acouted depreciation of 5270,000 through December 31 of the preceding years Sophie Mber Asociates herved $330.000 custom home of the building Deprecated trebosis. The building hos a 40 your use life and a value of $50.000 Before we record the sale of the building, we must record depreciation on the building through September 1, 2018 Account and Explanation Debit Credit Sep 1 Now record the sale of the building on September Account and Explanation Debit Choose from anyone number the routes and then conto the nation MacBook Air Bo 11 A # 3 $ 4 % 5 & 7 * 8 2 6 E R T W S D F G H Dec. 21: Record depreciation on the communication equipment Communication equipment is depreciated by the straight-line method over a five-year life with a midunt value. Date Accounts and Explanation Debit Credit Dec 31 Dec 31 Record depreciation on the office equipment Office equipment is depreciated using the double-declining balance method over five yours is a 56.000 residual value Date Accounts and Explanation Debit Credit Dec 31 Choose from any wet or enter any number in the inputs and then continue to the next question MacBook Air esc SO 988 4 FF # 3 $ 4 & 7 2 5 8 W E R T Y
