please help easy accounting

Required information (The following information applies to the questions displayed below. Palmer Cook Music Productions manages and operates two bands. The company entered into the following transactions during a recent year Jabuary 2. Purehased a taur bue far 570,000 by paying $21,000 cash and nigaing a $59,000 note due In two yoard. In itm accounting wyatem, the cotpany recordn the vehildi dintinct from other typei of January B After the bur was uned for nearly one week, it wain paintod with the logos of the tro bande at a equipanent. coif of 5400 , on acoount. The logoa did not inerease the lifeipan, operating capacity, or operating officiency of the bus, but they wore thoughe to be useful in pronoting the bands. Jasuary 30 Wrote check for the amount owed on aceount for che vork completed on \$anuisty 8. Pebruary 1 Purchased new mpeakers and anplifiers and wrote a check. for the fod1 513 , 500 cost. Tebruary b paid $300 conh for minox repairs to the tour bus? March 1 Paid $21,000 canh and signed a $195,000 five-year noce to purchase a mmall offiee building and 1and. An appraisal indieated that the building and land contributed equaliy to the total price. March 31 Paid 580,000 eaph to acquire the gooduil1 and certain tangible asaetn of Kris Myth, Incorporated. The fair values of the tangible aaseta acquired were $10,000 for band equipment and $50,000 for recording equiptent. 1-b. Prepare the journal entries for each of the above transactions. 2. For the tangible and intangible assets acquired in the preceding transactions, determine the amount of depreciation and amortization that Palmer Cook Music Productions should report for the quarter ended March 31. For convenience, the equipment and vehicle are depreciated the same way, using the straight-line method with a useful life of five years and no residual value. The building is depreciated using the double-declining-balance method, with a 8 -year useful life and residual value of $21,000. TIP: Calculate depreciation from the acquisition date to the end of the quarter. 3. Prepare a journal entry to record the depreciation calculated in requirement 2. Q Answer is not complete. Complete this question by entering your answers in the tabs below. Prepare a joumal entry to record the depreciation caiculated in requirement 2. (Do not round intermediate calculations. If no entry is required for a transaction/event, select "No Joumal Entry Required" in the first occount fleld.) Paimer Cook Music Productions manages and operates two bands. The company entered into the following transactions during a recent year. January 2 Purehased a tour bas for $70,000 by paying $21,000 essh and aigning a $49, 000 note due 1n two years. In its accounting systen, the eonpany records the vehicle distinot from other types of equipment. January 8 Atter the bus was used for nearly one week, 1t was painted with the logos of the two bands at a cost of $400, on account. The logos did not increase the Ilfenpan, operating capacity, or operating efticiency ot the bus, but they were thought to be usetul in pronoting the bands. January 30 Wrote a check for the amount owed on aceount for the work completed on January 8 . February 1 Purehaned new ipeakers and anplifiers and wrote a check for the ful1 $13,500 cost. February b Paid $300 cash for minor repairs to the tour bus. Mareh 1 Paid $21,000 cash and signed a $195,000 five-year note to purchane a amall oftice building and land. An appraisal indieated that the building and land contributed equally to the total price. Mareh-31 Paid $80,000 cash to acquire the goodwil1 and certain tangible asmeta of Krint Myth, Incorporated. The fafr valuen of the tangible assetf acquired were $10,000 for band equipment and $50, 000 for recording equipment. 1-b. Prepare the journal entries for each of the above transactions. 2. For the tangible and intangible assets acquired in the preceding transactions, determine the amount of depreciation and amortization that Palmer Cook Music Productions should report for the quarter ended March 31. For convenience, the equipment and vehicle are depreclated the same way, using the straight-line method with a useful life of five years and no residual value. The bullding is depreciated using the double-declining-balance method, with a 8-year useful life and residual value of $21,000. TIP: Calculate depreciation from the acquisition date to the end of the quarter 3. Prepare a journal entry to record the depreciation calculated in requirement 2 . (8) Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. For the tangible and intangible assets acquired in the preceding transactions, determine the amount of depreciation and amortization that Palmer Cook Music Productions should report for the quarter ended March 31. For convenience, the equipment and vehicle are depreciated the same way, using the straight-line method with a useful life of five years and no residual value. The building is depreciated using the double-declining-balance method, with a 8 -year useful life and residual value of $21,000. TIP; Calculate depreciation from the acquisition date to the end of the quarter. (Do not round intermediate caiculations.)