t December 31, 2017, Flounder Corporation reported the following plant assets.

Land				$ 5,883,000
Buildings		$26,560,000
Less: Accumulated depreciationbuildings		23,384,925		3,175,075
Equipment		78,440,000
Less: Accumulated depreciationequipment		9,805,000		68,635,000
Total plant assets				$77,693,075

During 2018, the following selected cash transactions occurred.

Apr.	1		Purchased land for $4,314,200.
May	1		Sold equipment that cost $1,176,600 when purchased on January 1, 2011. The equipment was sold for $333,370.
June	1		Sold land for $3,137,600. The land cost $1,961,000.
July	1		Purchased equipment for $2,157,100.
Dec.	31		Retired equipment that cost $1,372,700 when purchased on December 31, 2008. No salvage value was received.

Record adjusting entries for depreciation for 2018. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)

Date	Account Titles and Explanation	Debit	Credit
Dec. 31
	(To record depreciation on buildings.)
Dec. 31
	(To record depreciation on equipment.)

eTextbook and Media

List of Accounts

Prepare the plant assets section of Flounders balance sheet at December 31, 2018. (Hint: You may wish to set up T accounts, post beginning balances, and then post 2018 transactions.) (List Plant Assets in order of Land, Building and Equipment.)

FLOUNDER CORPORATION Partial Balance Sheet For the Year Ended December 31, 2018For the Month Ended December 31, 2018December 31, 2018
Current AssetsCurrent LiabilitiesIntangible AssetsLong-term InvestmentsLong-term LiabilitiesPlant AssetsStockholders' EquityTotal AssetsTotal Current AssetsTotal Current LiabilitiesTotal Intangible AssetsTotal LiabilitiesTotal Liabilities and Stockholders' EquityTotal Long-term InvestmentsTotal Long-term LiabilitiesTotal Plant AssetsTotal Stockholders' Equity
					$
			$
AddLess:
AddLess:
Current AssetsCurrent LiabilitiesIntangible AssetsLong-term InvestmentsLong-term LiabilitiesPlant AssetsStockholders' EquityTotal AssetsTotal Current AssetsTotal Current LiabilitiesTotal Intangible AssetsTotal LiabilitiesTotal Liabilities and Stockholders' EquityTotal Long-term InvestmentsTotal Long-term LiabilitiesTotal Plant AssetsTotal Stockholders' Equity					$

eTextbook and Media

List of Accounts