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Need Help with questions #3 and #4 Question 3) On November 1,2018, Amanda Company acquired real estate, on which it planned to construct a small

Need Help with questions #3 and #4 image text in transcribed
Question 3) On November 1,2018, Amanda Company acquired real estate, on which it planned to construct a small office building, by paying $97,500 in cash. An old warehouse on the property was demolished at a cost of S27,555; the salvaged materials were sold for $8,888. Additional expenditures before construction begarn included $1,900 attorney's fee for work concerning the land purchase, $5,200 real estate broker's fee, S10,100 architect's fee, and $25,000 to put in driveways and a parking lot. Instructions: A) Determine the amount to be reported as the cost of the land. B) For each cost not used in part (a), indicate the account to be debited. Question 4) in recent years, Dobbs Company has purchased three machines. Because of a bad employee named Wares in the accounting department, a different accountant was hired to take charge of selecting the depreciation method for each machine. Information concerning the machines is summarized in the table below. Machine Acquired Cost Salvage Useful Life Depreciation $12,000 S 6,000 Value(in years) method Straight-line Jan. 1, 2017 $96,000 Oct. 1,2018 $80,000 Nov. 1, 2018 $66,000 12 5 Double-Declining Balance 6 Units-of-Activity For the units-of-activity method, total machine hours are expected to be 30,000. Actual hours of use in the first 3 years were: 2018, 800; 2019, 4,100; and 2020, 7,000. Instructions A) Compute t B) If machine 2 was purc of accumulated depreciation on each machine at December 31, 2020. hased on April 1 instead of October 1, what would be the depreciation expense the amount for this machine in 2018? In 2019

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