Sep 1 Sold a building that cost 5600,000 accumulated depreciation of 245,000 through December 31 of the preceding year) Janie Mil Adreceived $370 000 cash from the sale of the building Depreciation is computed on a straight-in basis. The building has a 16 years and are of 545.000 Before we record the sale of the building, we must record deprecation on the building through September 1, 2018 More into X Date Accounts and Explanation Credit Sep. 1 Depreciation Experten Jan 1Purchasedice gament. 5117.000 PRO ST.000 cash and financed the Accumulated Depreciation reader with anot payable Apr1 Acquired land and communication equipment in a lumpumpurchase Total cost was $120.000 din cash Anindependent appraisal valued the land 252.000 and the communication went at $84.000 To record depreciation on big Sep1 Sold a building the cast 600.000 de depreciation of 20000 through December of the preceding year Jane As receved 5370,000 cash Now record the sale of the building on September 1 to the sale of the building Depreciation is computed on a sightne basis. The building has a 40 years and a real value of 15.000 Date Account and Explanation Cred Dec 31 Rended depreciation as to Communication en la depreciated by the straight in the over a five year Sep 1 with a Accued Depreciation Office is depreciated using the double-declining balance method avere years with a 36.000 Burding Bain on no Pent To records of wing Done Dec 31 Record depreciation on the communication equipment Communication is deprecated by the right th Date Account and Explanation Debit Credit 0 Dec 31 Dec 31 Record depreciation in the center is deprecated using the double dinge was with a 16.000 rsd Date Account and Explanation Debit Credit Dec 31 tor Sep. 1: Sold a building that cost $600,000 accumulated depreciation of $245,000 through December 31 of the preceding year). Janie Mills Associates received $370,000 cash from the sale of the building. Depreciation is computed on a straight-line basis. The building has a 40-year useful life and a residual value of $45,000. x Before we record the sale of the building, we must record depreciation on the building through September 1, 2018. More Info Date Accounts and Explanation Debit Credit Sep. 1 Depreciation Expense-Building Jan. 1 Purchased office equipment, $117,000. Paid $81,000 cash and financed the Accumulated Depreciation-Building remainder with a note payable. Apr. 1 Acquired land and communication equipment in a lump-sum purchase. Total cost was $320,000 paid in cash. An independent appraisal valued the land at $252,000 and the communication equipment at $84,000. To record depreciation on building. Sold a building that cost $600,000 (accumulated depreciation of $245,000 through December 31 of the preceding year). Janie Mills Associates received $370,000 cash Now record the sale of the building on September 1 from the sale of the building. Depreciation is computed on a straight-line basis. The building has a 40-year useful life and a residual value of $45,000. Date Accounts and Explanation Debit Credit Dec. 31 Recorded depreciation as follows: Communication equipment is depreciated by the straight-line method over a five-year Sep. 1 Cash life with zero residual value. Accumulated DepreciationBuilding Office equipment is depreciated using the double-declining-balance method over five years with a $6,000 residual value. Building Gain on Disposal To record sale of building. Print Done Sep. 1 Dec. 31: Record depreciation on the communication equipment. Communication equipment is depreciated by the straight-line method over a five-year life with zero residual value. Date Accounts and Explanation Debit Credit Dec. 31 Dec. 31: Record depreciation on the office equipment. Office equipment is depreciated using the double-declining-balance method over five years with a $6,000 residual value. Date Accounts and Explanation Debit Credit Dec. 31