Question $10$ of $13$

$\frac{-}{1}$

The proper ty$.$plant, and equ pment acounks for Sheridan Co$-$pory held the folkwing opening balances on January $1.2023.$tFe first doy or Sheridaris fival year$]$:

Land

Equipmen:

Accumalated Depreciation$-$Equpment

Machinery

Acrumulates Deprecistion$-$Machinery

$5034,000$

$1,000$

$121,000$

$441,000$

$163,000$

The following tramactiars fock place during $2023($assume all trancactions took place on January $1)$:

a Sheridar Company paid $$19,900$ related to the michinery and $$7,300$ related to the equipment for maintenarce to kecp the awets in numal workire crder,

Equipremt with an arigind cosf af $$39,200$ ard accumulsted depreostion of $$30,400$ was trided in on some new equipment. The rew equipment had a fair value of $$52,300,$ and Sherden was Even a trade in allowance of $$4,200$ for the old equipment.

c Sheridan Comparyy made an agreement with GRN Ltd to exchange two similar plats of land Sheridaris land hod anoriginal cont of $$084,000$ and a fair vlue of $$776,000.$ GRNS land had an original cost of $$602800$ and a fair value of $$818400.$ Sheridan abo poid $$42,400$ in cash to GRN as part of the transmetion, The ecchangelacks commarcial substance.

d$.$ Sheridar poid $$70,100$ an a major upigr ade to some of the equigment that significantly increawed the economiclife of the equipment. amounts. List all dichke eneries before cred endries.$)$