Please create journal entries and show calculations. Example: l.

Depreciation		162,000
Accumulated Depreciation - Office Building			162,000

k. As of 127/31/2018 the Available for Sale Securities ($375,000) have a fair value of $290,006. Due to the market conditions, the company does not plan on selling the assets in 2019, but their intent is to sell at some point in time. You can ignore the tax effect on unrealized gains and losses The office building($3,750,000) was bought in January 1, 2016 and Accounting Firm plans to use the building for 40 years and believes it will have a salvage value of $250,000 at the end of 40 years. Accounting Firm depreciates the building on a straight-line basis. Due to the location of the building and use potential Accounting Firm is concerned about impairment. At 1231/2018 it is determined that the future cash flows for the building are $3,000,000. The fair value of the building is $3,406,000 at 12/31/2018 m. After reviewing details of sales, you note that the sales taxes collected on the last week of December sales were included in sales revenue. Sales recorded the last week of December that included the sales tax of 7% amounted to $350,000 n. Accounting Firm uses the Dollar Value LIFO inventory method. For internal purposes, the Merchandise Inventory Account is maintained at FIFO (current costs). At the end of the year, the LIFO reserve account adjusted so inventory on the balance sheet reflects Dollar Value LIFO. You need to calculate the proper inventory balance and adjust the LIFO reserve. The price index for this year is 1.26. Prior year inventory records show the following calculation for 2018 175,000 X1.0175,000 00,000 X 1.05-105,000 o. All office equipment was purchased January 1, 2017. Accounting Firm uses the DDB method to depreciate office equipment. No office equipment has been added since the initial purchase. It is estimated that the office equipment has a useful life of 10 years with a salvage value of $12,000 p. On July 1, 2018, Accounting Firm rented a portion of one store to Marketing Majors Inc. The contract was for 15 months and Accounting Firm required all of the cash up front. The rent is being earned equally each month. This is the only item in which rent is being earned by the company. (Rent Revenue 75,000) q. Accounting Firm started to lease some new retail space in 2018 and added shelving and foxtures to this leased space. Based on your review of invoices, the previous accountant capitalized the cost of fixtures but did not capitalize the shipping and installation costs of $3,506. These costs were expensed and recorded as a miscellaneous selling expense ($23,000). Accounting Firm has decided to use double declining balance (DDB) depreciation for this item and to take a full year of depreciation in the year of acquisition The leasehold improvements have a useful life of 15 years with a salvage value of $15,000 r. Accounting Firm uses the FIFO Inventory Method in valuing inventory. The inventory balance of $425,000 was based on a physical count at 12/31/2018. Based on your analysis, you have noted that $12,500 of marketing games that belonged to Marketing Majors Inc was included in the account. You also note that $7,000 of goods shipped to Accounting Firm fo b. destination were in transit on December 31, 2018 and included in the physical count s. You note during the review of sales, that a rebate was issued for the 2018 Income Tax Game to encourage sales. 36,000 games were sold. Customers can mail in their receipt and receive a $1 rebate per game. It is estimated that 60% of customers will send in the rebate The rebate expires on January 31, 2019 To date 8,000 customers have sent in the rebate and $16,000 has been refunded. 16,000 rebates have been refunded Without any direction, the accounting clerk debited Miscellaneous Selling Expense and credited Cash for the $16,000. The management of Accounting Firm would preter ta have this type of expense in a separate account (Rebate Expense) so they can properly analyze for future ideas