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stics Upload Asign Monday - Apri https://oswego... (347) - a.m.do... Google Docs (1002) - adabit Google Docs 1 The following information is available on a depreciable asset owned by Tank Johnson Company Purchase date October 1, Year 1 Purchase price $70,000 Salvage value $10,000 Useful life 10 years Depreciation method straight-line The asset's book value was 562,500 on January 1, Year. On that date, management determines that the asset's estimated useful life will be 5 years total and that the asset's salvare value will be $17.500 rather than the original estimates of a 10 year useful life and a $10,000 salvage value. Based on this change in estimate the amount of depreciation expense the Company should recognize for the year ended, December 31, Year 3 should be $ e. S d. $ 6,000 9,000 10,300 12,000 13,500 2 Carmel Company soquires a mineral deposit at a cost of $9,500,000 on March 1, 2019. It incurs addicional costs of $500,000 to access the deposit, which is estimated to contain 2,500,000 tons and is expected to take 5 years to extract, Compute the depletion expense for the year ended December 31, 2019 assuming 415.000 tons were mined during 2019. Carmel uses the units of protection depreciation method. 3. $ b. $ c. $ d. S 1,500,000 1,660,000 1,750,000 1.885.000 2.000.000 A Company paid 5.300.000, plus an a l estate commission and $6.000 in closing costs for a property. The property included and praised $110.000, and improvements appraised $47,400, and a building apped at $237,000. What should be the journal entry to record the question in the company's accounting records . DR Land 592.400, DR. Land improvements $39.500: DR Building $198.000 anda CRC 330.000 b. DR Land $110.600 Land Improvement 547,000: DR Building 5237.000 and a CR Cash 195.000 C. DR Land 584,000; DR Land Improvements $36,000 DR Building $180,000 anda C Cash $100,000 d. Land 132,000: DR Building 100,000: CRC 300,000 CR Fees Payable $30,000 . DR Land 158,000; DR. Balding 239.000C Cash S330.000and CR Gain on Sale $5,000 MacBook Pro