prepare entries of machine disposal including depreciation expense until time of sales

On January 1, 2020, PT ABC acquired real estate on which it planned to construct a factory The company paid $600,000 in cash. ABC paid $60,000 to tear down an old building on the land. The salvaged materials were sold for $8,000 Additional expenditures before construction began included $4,000 tax cost for land entitlement, $20,000 real estate broker's fee, $32,000 architect's fee, $1,740,000 construction cost, and $8,000 liability insurance during construction cost. Instruction: Prepare entries to record the expenditures (495) On April 1, 2017, PT ABC purchased factory equipment for $480,000. It is estimated that the equipment will have a $48,000 residual value at the end of its 8-year useful life. Instruction: Journalize the depreciation expense of 2019 (Year-3) using double declining balance method. On January 1, 2019, PT ABC purchased a coal mine for $6,000,000. The company's geological surveys show the coal reserve in the mine of 25,000,000 tons. In first quarter (January to March 2020) the company mined and sold 750,000 tons of coal Instruction: Journalize the depletion cost for the first quarter of 2020. (4%) On September 1, 2019, PT ABC purchased a copyright of tutorial application for $360,000. It is estimated that the copyright will have a useful life of 4 years without residual value. Instruction: a. Journalize amortization expense for 2019 using straight line method. (29) b. What is the balance of Copyrights on balance sheet of December 31, 20202_696) PT ABC sold one of its old machines on September 30, 2020. The machine was purchased for $80,000 on January 1, 2017, and was depreciated on a straight-line basis for 7 years with $10,000 residual value. The machine was sold for $53,000