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Please help, I can not calculate properly. Please use exact numbers. Problem 9-2A At December 31, 2014, Navaro Corporation reported the following plant assets. Land
Please help, I can not calculate properly. Please use exact numbers.
Problem 9-2A At December 31, 2014, Navaro Corporation reported the following plant assets. Land Buildings Less: Accumulated depreciationbuildings Equipment Less: Accumulated depreciationequipment Total plant assets $ 3,870,000 $33,350,000 15,383,250 17,966,750 51,600,000 6,450,000 45,150,000 $66,986,750 During 2015, the following selected cash transactions occurred. Apr. 1 Purchased land for $2,838,000. May 1 Sold equipment that cost $774,000 when purchased on January 1, 2008. The equipment was sold for $219,300. June 1 Sold land for $2,064,000. The land cost $1,290,000. July 1 Purchased equipment for $1,419,000. Dec. 31 Retired equipment that cost $903,000 when purchased on December 31, 2005. No salvage value was received. Journalize the transactions. Navaro uses straight-line depreciation for buildings and equipment. The buildings are estimated to have a 40-year useful life and no salvage value; the equipment is estimated to have a 10-year useful life and no salvage value. Update depreciation on assets disposed of at the time of sale or retirement. (Record entries in the order displayed in the problem statement. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Dat Account Titles and e Explanation Debi Credi t t Show List of Accounts Link to Text (To record depreciation on equipment retired) Record adjusting entries for depreciation for 2015. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation Show List of Accounts Dec. 31 Link to Text Date. Debit Credit (To record depreciation on Prepare the plant assets section of Navaro's balance sheet at December 31, 2015. (Hint: You buildings.) may wish to set up T accounts, post beginning balances, and then post 2015 transactions.) (List 31 Plant Assets in order of Land, Building and Equipment.) NAVARO CORPORATION Partial Balance Sheet December 31, 2015 $ $ : : $ Show List of Accounts Problem 9-2A At December 31, 2014, Navaro Corporation reported the following plant assets. Land Buildings Less: Accumulated depreciationbuildings Equipment Less: Accumulated depreciationequipment Total plant assets $ 3,870,000 $33,350,000 15,383,250 17,966,750 51,600,000 6,450,000 45,150,000 $66,986,750 During 2015, the following selected cash transactions occurred. Apr. 1 Purchased land for $2,838,000. May 1 Sold equipment that cost $774,000 when purchased on January 1, 2008. The equipment was sold for $219,300. June 1 Sold land for $2,064,000. The land cost $1,290,000. July 1 Purchased equipment for $1,419,000. Dec. 31 Retired equipment that cost $903,000 when purchased on December 31, 2005. No salvage value was received. Journalize the transactions. Navaro uses straight-line depreciation for buildings and equipment. The buildings are estimated to have a 40-year useful life and no salvage value; the equipment is estimated to have a 10-year useful life and no salvage value. Update depreciation on assets disposed of at the time of sale or retirement. (Record entries in the order displayed in the problem statement. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Dat Account Titles and e Explanation Debi Credi t t Show List of Accounts Link to Text (To record depreciation on equipment retired) Record adjusting entries for depreciation for 2015. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation Show List of Accounts Dec. 31 Link to Text Date. Debit Credit (To record depreciation on Prepare the plant assets section of Navaro's balance sheet at December 31, 2015. (Hint: You buildings.) may wish to set up T accounts, post beginning balances, and then post 2015 transactions.) (List 31 Plant Assets in order of Land, Building and Equipment.) NAVARO CORPORATION Partial Balance Sheet December 31, 2015 $ $ : : $ Show List of AccountsStep by Step Solution
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