QUESTION 16 Plant Assets Crown Construction had several Plant Asset transactions during the year. Use the facts provided to answer the following questions Question 1 Crown purchased a new dump truck for $38,000 cash on January 1, 2013. In addition to the purchase price, Crown paid $700 for delivery charges and $3,800 in sales taxes. It also spent $1.000 in September for the dump truck's first oil change and some belt replacements. The dump truck has an estimated useful life of 10 years and a salvage value of $4.000. Crown estimates it will operate the dump truck for 10.400 hours during its useful life Crown used the dump truck 980 hours during 20Y3 How much depreciation expense will Crown record in 2073 using each of the depreciation methods listed below? Round your final answers to the nearest whole dollar Include appropriate commas and no dollar signs (0.9. 1.000). Straight-Line Double-Declining Balance Units of Activity Question 2 Crown acquired some land for the purpose of building a new storage facility for its large equipment. The following costs related to these plant assets were incurred in in 2013 Land purchase price - $150.000 Real estate broker's commission on the sale of the land - $4.000 Land title transfer fees - $500 Cost to remove an old building that existed on the land - $8.000 Construction costs related to the new building - $330.000 Installation of a sprinkler system around the new building - $5.000 Installation of a parking lot in front of the new building - $10,000 Units of Activity Question 2 Crown acquired some land for the purpose of building a new storage facility for its large equipment. The following costs related to these plant assets were incurred in in 20Y3 Land purchase price - $150.000 Real estate broker's commission on the sale of the land - $4.000 Land title transfer fees - $500 Cost to remove an old building that existed on the land - $8.000 Construction costs related to the new building - $330.000 Installation of a sprinkler system around the new building - $5.000 Installation of a parking lot in front of the new building - $10,000 What value should Crown record for the land and the new building include appropriate commas and no dollar signs (eg. 1.0001 Land Building Question 3 Crown sold one of its machines for $3.000 on August 1, 2073. The machine originally cost Crown $12.000 and had accumulated depreciation of $10.200 at the time of sale. How much gain or loss would Crown record related to the sale of the machine? Indicate gain or loss in your answer and include appropriate commas and no dollar signs leg. 1.000 gain or 1.000 loss)
