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Queston. 1: Disney acquired the following PPE on January 1, 2022, Solve using excel: a. Prepare the journal entries and T-Accounts for the acquisition of
Queston. 1: Disney acquired the following PPE on January 1, 2022, Solve using excel:
a. Prepare the journal entries and T-Accounts for the acquisition of each PPE. | |
b. Depreciate the relevant assets as per instructions below. Note, land is not depreciated. | |
Purchase of Land | |
Purchase price | 125,000 |
Sales taxes | 10,000 |
Broker's fees | 1,800 |
Accrued taxes | 5,200 |
Demolition of old building | 5,000 |
Sale of scrap material | (3,500) |
Clearing of land | 5,500 |
Total Acquisition cost | 149,000 |
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