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please answer these two subparts questions they are similar In January, 2020, Harmony Inc. has the following cash expenditures related to acquiring a plot of

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In January, 2020, Harmony Inc. has the following cash expenditures related to acquiring a plot of land on which it plans to build a warehouse. . January 1: $55,000 to the seller of the land. January 2: $1,250 to an attorney for legal services related to finalizing the land purchase. . January 2: $12,000 to the real estate broker who found the land and facilitated the purchase. January 3: $30,000 to a crew that demolishes the existing building and hauls away the debris. January 3: $1,800 to an insurance broker to insure the land for 2020. January 5: $23,000 to a paving company to install a driveway on the land. January 6; 53,500 to a landscaping company for privacy hedges. Base on the information above, indicate the total amount that should be debited to each of the following accounts during the month of January, Enter your answers in whole dollars without the $ sign. For some accounts, the amount may be 0 (zero). 1. Land 2. Land Improvements 3. Land Acquisition Expense 4. Building 5. Prepaid Insurance 6. Insurance Expense The Lark Company purchases a warehouse on December 31, 2014 for $130,000 (which includes all capitalizable costs). They put the warehouse into service on January 1, 2015, assigning it a useful life of 16 years and a salvage value of $6,000. Enter your answers below in whole dollars without a $ sign (e.g., xxx). 1. Calculate the depreciable cost of the warehouse. 2. Calculate the annual depreciation expense that Lark must recognize for the warehouse over the next 20 years. 3. Calculate the accumulated depreciation on the warehouse as of December 31, 2020. 4. Calculate the net book value of the warehouse as of December 31, 2020 5. As of December 31, 2020, how much total additional depreciation expense should be recognized over the remaining useful life of the warehouse? 6. True or false: If Lark Company had originally estimated a salvage value of $8,000, then its annual depreciation would be higher than the number you computed for part 2 above. Enter Tor F

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