The property, plant, and equipment section of the Jasper Company's December $31,2023,$ balance sheet contained the following: Required $3$

Prepare the journal entry to record $2024$ depreciation on machine $102$ up to the date of sale.

Note: If no entry is required for a transaction$/$event$,$ select $"$No journal entry required" in the first account field.

Journal entry worksheet

$1$

Record the depreciation on machine $102$ through date of sale.

Note: Enter debits before credits. Required $5$

Calculate the gain or loss on the sale of machine $102.$ Prepare the journal entry for the sale of machine $102.$

Note: If no entry is required for a transaction$/$event$,$ select $"$No journal entry required" in the first account field.

Journal entry worksheet

Record the sale of machine $102.$

Note: Enter debits before credits.Prepare the $2024$ year$-$end journal entries to record depreciation on the building and remaining equipment.

Note: If no entry is required for a transaction$/$event$,$ select $"$No journal entry required" in the first account field.

Journal entry worksheet

Record the depreciation on the building.

Note: Enter debits before credits.

The land and building were purchased at the beginning of $2019.$ Straight$-$line depreciation is used and a residual value of $$37,000$ for

the building is anticipated.

The equipment is comprised of the following three machines:

The straight$-$line method is used to determine depreciation on the equipment. On March $31,2024,$ Machine $102$ was sold for $$42,000.$

Early in $2024,$ the useful life of machine $101$ was revised to five years in total, and the residual value was revised to zero.

Required:

Calculate the accumulated depreciation on the equipment at December $31,2023.$

Prepare the journal entry to record $2024$ depreciation on machine $102$ up to the date of sale.

Calculate the gain or loss on the sale of machine $102.$

Prepare the journal entry for the sale of machine $102.$

Prepare the $2024$ year$-$end journal entries to record depreciation on the building and remaining equipment.

Complete this question by entering your answers in the tabs below.

Calculate the accumulated depreciation on the equipment at December $31,2023.$