The Township of Lombardi maintains its books so as to prepare fund accounting statements and prepares worksheet adjustments in order to prepare government$-$wide financial statements.

Required: You are to prepare, in journal form, worksheet adjustments for each of the following situations.

General fixed assets, as of the beginning of the year $($which had not been recorded$),$ were as follows:

Land $$50,000,000$

Buildings $600,000,000$

Improvements other than buildings $245,000,000$

Equipment $105,000,000$

Accumulated depreciation, capital assets $202,400,000$

During the year, expenditures for capital outlays amounted to $$11,200,000.$ Of that amount, $$7,800,000$ was for buildings; $$1,550,000$ was for improvements other than buildings; and the remainder was for land.

The capital outlay expenditures outlined in $($B$)$ were completed at the end of the year $($no depreciation until next year$).$ For purposes of financial$-$statement presentation, all capital assets are depreciated using the straight$-$line method, with no estimated salvage value. Estimated lives are as follows: buildings, $50$ years; improvements other than buildings, $20$ years; and equipment, $10$ years.

Equipment with a cost of $$41,500$ and accumulated depreciation at the time of sale of $$16,600$ was sold for $$45,000.$