On March 31, 2021, the Herzog Company purchased a factory complete with vehicles and equipment. The allocation of the total purchase price of $910,000 to the various types of assets along with estimated useful lives and residual values are as follows:

Asset CostEstimated Residual ValueEstimated Useful

Life (in years)

Land$145,000N/AN/A

Building410,000none20

Equipment210,00012% of cost8

Vehicles145,000$13,00010Total$910,000

On June 29, 2022, equipmentincluded in the March 31, 2021, purchase that cost $91,000 was sold for $71,000. Herzog uses the straight-line depreciation method for building and equipmentand the double-declining-balance method for vehicles. Partial-year depreciation is calculated based on the number of months an asset is in service.

Required:

1.Compute depreciation expense on the building, equipment, and vehiclesfor 2021.

Building; $ _____________

Equipment $____________

Vehicles $______________

2.Prepare the journal entries to record the depreciation on the equipment sold on June 29, 2022, and the sale of equipment.

June 29,2020 Depreciation expenses Debit______________ Credit___________

Accumulated depreciation- Equipment Debit _____________ Credit___________

3.Compute depreciation expense on the building, remaining equipment, and vehicles for 2022.

Building $20,500

Equipment: $________________

Vesicles: $_______________