Required information [The following information applies to the questions displayed below.) Harding Corporation acquired real estate that contained land, building and equipment. The property cost Harding $1,900,000. Harding paid $350,000 and issued a note payable for the remainder of the cost. An appraisal of the property reported the following values: Land, $374,000; Building, $1,100,000 and Equipment, $726,000. hat journal entry would be used to record the purchase of the above assets? Multiple Choice Land Building Equipment Cash 370,000 1,100,000 760,000 2,230,000 Assume that Harding uses the units-of-production method when depreciating its equipment Harding estimates that the purchased equipment will produce 1000,000 units over its 5-year useful life and has a salvage value of $34,000. Harding produced 265,000 units with the equipment by the end of the first year of purchase. Which amount below is closest to the amount Harding will record for depreciation expense for the equipment in the first year? Multiple Choice $193.450 $125.200 $157545 Harding Corporation acquired real estate that contained land, building and equipment. The property cost Harding $1,900,000. Harding paid $350,000 and issued a note payable for the remainder of the cost. An appraisal of the property reported the following values: Land, $374,000; Building, $1,100,000 and Equipment, $726,000. What journal entry would be used to record the purchase of the above assets? Required information [The following information applies to the questions displayed below.) Harding Corporation acquired real estate that contained land, building and equipment. The property cost Harding $1,900,000. Harding paid $350,000 and issued a note payable for the remainder of the cost. An appraisal of the property reported the following values: Land, $374,000; Building, $1,100,000 and Equipment, $726,000. hat journal entry would be used to record the purchase of the above assets? Multiple Choice Land Building Equipment Cash 370,000 1,100,000 760,000 2,230,000 Assume that Harding uses the units-of-production method when depreciating its equipment Harding estimates that the purchased equipment will produce 1000,000 units over its 5-year useful life and has a salvage value of $34,000. Harding produced 265,000 units with the equipment by the end of the first year of purchase. Which amount below is closest to the amount Harding will record for depreciation expense for the equipment in the first year? Multiple Choice $193.450 $125.200 $157545 Harding Corporation acquired real estate that contained land, building and equipment. The property cost Harding $1,900,000. Harding paid $350,000 and issued a note payable for the remainder of the cost. An appraisal of the property reported the following values: Land, $374,000; Building, $1,100,000 and Equipment, $726,000. What journal entry would be used to record the purchase of the above assets
