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Please use Balance Sheet provided. Thank you! Question 5 (25 marks) Complex Computer Ltd. had a December 31 year end. Complex Computer Ltd. completed the

image text in transcribedimage text in transcribedimage text in transcribed Please use Balance Sheet provided. Thank you!

Question 5 (25 marks) Complex Computer Ltd. had a December 31 year end. Complex Computer Ltd. completed the following transactions: 2018 February 01: Paid $ 3,000,000 plus $ 100,000 in legal fees, pertaining to all assets purchased, to acquire the following assets: Asset || Appraised Value |Estimated Useful Life || Estimated Residual Value Land $ 900.000 1,600,000 Building 20 years $ 200,000 50,000 Equipment 800,000 10 years Complex Computer Ltd. used the straight-line amortization method. March 01: Purchased a van for $ 60,000 cash. Complex Computer Ltd. determined that the estimated useful life of the van was 5 years with no residual value. March 01: Complex Computer Ltd. paid S 4,000 cash to paint the company's logo on the van. June 01: Complex Computer Ltd. paid $ 65,000 cash for annual maintenance work done on the equipment. December 31: Complex Computer Ltd. recorded amortization on its assets. 2019 July 01: Complex Computer Ltd. sold the van for $ 40,000. December 31: Complex Computer Ltd. recorded amortization on its assets. B. Show the balance sheet presentation of the assets at December 31, 2019. Complex Computer Ltd. Balance Sheet December 31, 2019

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