NO. 5 Information pertaining to ALLADIN CORPORATION's property, plant and equipment for 2020 is presented below. Account balances at January 1, 2020 Debit Credit Land 6,000,000 Buildings 48,000,000 Accumulated depreciation - bldg. 10,524,000 Machinery and equipment 36,000,000 Accumulated depreciation mach. & equip. 10,000,000 Automotive equipment 4,600,000 Accumulated depreciation - auto. Equip. 3,384,000 Depreciation data: Depreciation method Useful life Buildings 150% declining-balance 25 years Machinery and equipment Straight-line 10 years Automotive equipment Sum-of-the-years-digits 4 years Straight-line Leasehold improvements The salvage values of the depreciable assets are immaterial. Depreciation is computed to the nearest month. Transactions during 2020 and other information are as follows: (a) On January 2, 2020, ALLADIN Corporation purchased a new car for P800,000 cash and trade-in of a 2-year car with a cost of P720,000 and a book value of P216,000. The new car has a cash price of P960,000; the market value of the trade-in is not known. (b) On April 1, 2020, a machine purchased for P920,000 on April 1, 2015, was destroyed by fire. ALLADIN Corporation recovered P620,000 from its insurance company. (c) On May 1, 2020, costs of P6,720,000 were incurred to improve leased office premises. The leasehold improvements have a useful life of 8 years. The related lease terminates on December 31, 2026. (d) On July 1, 2020, machinery and equipment were purchased at a total invoice cost of P11,200,000; additional costs of P200,000 for freight and P1,000,000 for installation were incurred. (e) ALLADIN Corporation determined that the automotive equipment comprising the P4,600,000 balance at January 1, 2020, would have been depreciated at a total amount of P720,000 for the year ended December 31, 2020. Questions 1. What is the depreciation on building for 2020? 2. What is the book value of the building at December 31, 2020? 3. What is the depreciation on machinery and equipment for 2020? 4. What is the gain on machine destroyed by fire? 5. What is the balance of the Accumulated Depreciation - Machinery and Equipment at December 31, 2020? 6. What is the depreciation on automotive equipment for 2020? 7. What is the gain (loss) on car traded-in? 8. What is the book value of automotive equipment at December 31, 2020? 9. What is the depreciation on leasehold improvements for 2020? 10. What is the book value of leasehold improvements at December 31, 2020