The plant asset and accumulated depreciation accounts of Pell Corporation had the following balances at December 31, 2017 Plant Asset Accumulated Depreciation Land $ 310,000 $ 0 Land improvements 168,000 37,000 Building 1,420,000 310,000 Machinery and equipment 1,078,000 365,000 Automobiles 142,000 108,000 Transactions during 2018 were as follows On January 2, 2018, machinery and equipment were purchased at a total invoice cost of $220,000, which included a $4,700 charge for freight Installation costs of $19,000 were incurred On March 31, 2018, a small storage building was donated to the company The person donating the building originally purchased it three years ago for $17,000 The fair value of the building on the day of the donation was $13,000 On May 1, 2018, expenditures of $42,000 were made to repave parking lots at Pell's plant location The work was necessitated by damage caused by severe winter weather On November 1, 2018, Pell acquired a tract of land with an existing building in exchange for 10,000 shares of Pells common stock that had a market price of $30 per share Pell paid legal fees and title insurance totaling $19,000 Shortly after acquisition, the building was razed at a cost of $27,000 in anticipation of new building construction in 2019 On December 31, 2018, Pell purchased a small storage building by giving $13,250 cash and an old automobile purchased for $14,000 on January 1, 2017 Depreciation on the old automobile recorded through December 31, 2018, totaled $10,500 The fair value of the old automobile was $3,350 Required For each asset classification, prepare a schedule showing depreciation for the year ended December 31, 2018, using the following depreciation methods and useful lives Land improvementsStraight line 15 years Building150 declining balance 20 years Machinery and equipmentStraight line 10 years Automobiles150 declining balance 3 years Depreciation is computed to the nearest month and no residual values are used PELL CORPORATION Depreciation Expense For the Year Ended December 31, 2018 Land Improvements $11,200 00 Building Machinery and equipment Automobiles 17,000 00 Total depreciation expense for 2018

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The plant asset and accumulated depreciation accounts of Pell Corporation had the following balances at December 31, 2017: Plant Asset Accumulated Depreciation Land $ 310,000

The plant asset and accumulated depreciation accounts of Pell Corporation had the following balances at December 31, 2017:

	Plant Asset		Accumulated Depreciation
Land	$	310,000	$	0
Land improvements		168,000		37,000
Building		1,420,000		310,000
Machinery and equipment		1,078,000		365,000
Automobiles		142,000		108,000

Transactions during 2018 were as follows:

On January 2, 2018, machinery and equipment were purchased at a total invoice cost of $220,000, which included a $4,700 charge for freight. Installation costs of $19,000 were incurred.
On March 31, 2018, a small storage building was donated to the company. The person donating the building originally purchased it three years ago for $17,000. The fair value of the building on the day of the donation was $13,000.
On May 1, 2018, expenditures of $42,000 were made to repave parking lots at Pell's plant location. The work was necessitated by damage caused by severe winter weather.
On November 1, 2018, Pell acquired a tract of land with an existing building in exchange for 10,000 shares of Pells common stock that had a market price of $30 per share. Pell paid legal fees and title insurance totaling $19,000. Shortly after acquisition, the building was razed at a cost of $27,000 in anticipation of new building construction in 2019.
On December 31, 2018, Pell purchased a small storage building by giving $13,250 cash and an old automobile purchased for $14,000 on January 1, 2017. Depreciation on the old automobile recorded through December 31, 2018, totaled $10,500. The fair value of the old automobile was $3,350.

Required:

For each asset classification, prepare a schedule showing depreciation for the year ended December 31, 2018, using the following depreciation methods and useful lives: Land improvementsStraight line; 15 years. Building150% declining balance; 20 years. Machinery and equipmentStraight line; 10 years. Automobiles150% declining balance; 3 years. Depreciation is computed to the nearest month and no residual values are used.

PELL CORPORATION
Depreciation Expense
For the Year Ended December 31, 2018
Land Improvements	$11,200.00
Building	??????
Machinery and equipment	??????
Automobiles	17,000.00
Total depreciation expense for 2018