The plant asset and accumulated depreciation accounts of Pell Corporation had the following balances at December 31, 2015 Plant Asset Accumulated Depreciation Land $ 375,000 $ 0 Land improvements 187,500 50,000 Building 1,550,000 375,000 Machinery and equipment 1,208,000 430,000 Automobiles 155,000 114,500 Transactions during 2016 were as follows a On January 2, 2016, machinery and equipment were purchased at a total invoice cost of $285,000, which included a $6,000 charge for freight Installation costs of $32,000 were incurred b On March 31, 2016, a machine purchased for $63,000 in 2012 was sold for $39,000 Depreciation recorded through the date of sale totaled $26,775 c On May 1, 2016, expenditures of $55,000 were made to repave parking lots at Pell's plant location The work was necessitated by damage caused by severe winter weather d On November 1, 2016, Pell acquired a tract of land with an existing building in exchange for 10,000 shares of Pell's common stock that had a market price of $43 per share Pell paid legal fees and title insurance totaling $25,500 Shortly after acquisition, the building was razed at a cost of $40,000 in anticipation of new building construction in 2017 e On December 31, 2016, Pell purchased a new automobile for $16,500 cash and trade in of an old automobile purchased for $20,500 in 2012 Depreciation on the old automobile recorded through December 31, 2016, totaled $15,375 The fair value of the old automobile was $4,000 Required For each asset classification, prepare a schedule showing depreciation for the year ended December 31, 2016, 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 (Do not round intermediate calculations ) PELL CORPORATION Depreciation Expense For the Year Ended December 31, 2016 Land Improvements Building Machinery and equipment Total depreciation expense for 2016

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The plant asset and accumulated depreciation accounts of Pell Corporation had the following balances at December 31, 2015: Plant Asset Accumulated Depreciation Land $ 375,000

The plant asset and accumulated depreciation accounts of Pell Corporation had the following balances at December 31, 2015:

	Plant Asset		Accumulated Depreciation
Land	$	375,000	$	0
Land improvements		187,500		50,000
Building		1,550,000		375,000
Machinery and equipment		1,208,000		430,000
Automobiles		155,000		114,500

	Transactions during 2016 were as follows:
a.	On January 2, 2016, machinery and equipment were purchased at a total invoice cost of $285,000, which included a $6,000 charge for freight. Installation costs of $32,000 were incurred.
b.	On March 31, 2016, a machine purchased for $63,000 in 2012 was sold for $39,000. Depreciation recorded through the date of sale totaled $26,775.
c.	On May 1, 2016, expenditures of $55,000 were made to repave parking lots at Pell's plant location. The work was necessitated by damage caused by severe winter weather.
d.	On November 1, 2016, Pell acquired a tract of land with an existing building in exchange for 10,000 shares of Pell's common stock that had a market price of $43 per share. Pell paid legal fees and title insurance totaling $25,500. Shortly after acquisition, the building was razed at a cost of $40,000 in anticipation of new building construction in 2017.
e.	On December 31, 2016, Pell purchased a new automobile for $16,500 cash and trade-in of an old automobile purchased for $20,500 in 2012. Depreciation on the old automobile recorded through December 31, 2016, totaled $15,375. The fair value of the old automobile was $4,000.

Required:

For each asset classification, prepare a schedule showing depreciation for the year ended December 31, 2016, 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. (Do not round intermediate calculations.)

PELL CORPORATION Depreciation Expense For the Year Ended December 31, 2016 Land Improvements Building Machinery and equipment Total depreciation expense for 2016