This is a 10 part question in accounting, Thanks!
McCoy's Fish House purchases a tract of land and an existing building for $980,000. The company plans to remove the old building and construct a new restaurant on the site. In addition to the purchase price, McCoy pays closing costs, including title Insurance of $2.800. The company also pays $13.600 In property taxes, which includes $8.800 of back taxes (unpald taxes from previous years) paid by McCoy on behalf of the seller and $4,800 due for the current fiscal year after the purchase date. Shortly after closing the company pays a contractor $49,000 to tear down the old building and remove it from the site. McCoy is able to sell salvaged materials from the old building for $4,600 and pays an additional $10.800 to level the land. Required: Determine the amount McCoy's Fish House should record as the cost of the land. (Amounts to be deducted should be indicated by a minus sign.) Total cost of the land Orion Flour Mills purchased a new machine and made the following expenditures: Purchase price Sales tax Shipment of machine Insurance on the machine for the first year Installation of machine $69,90 5.700 948 640 1,880 The machine, Including sales tax, was purchased on account with payment due in 30 days. The other expenditures listed above were paid In cash. Required: Record the above expenditures for the new machine. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) View transaction lat Journal entry worksheet Record the expenditures for the new machine. Note: Enter debits before credits Transaction General Journal Debit Credit Required information The following information applies to the questions displayed below] Super Saver Grocerles purchased store equipment for $28,000. Super Saver estimates that at the end of its 10-year service life. the equipment will be worth $3.000. During the 10-year period, the company expects to use the equipment for a total of 10,000 hours. Super Saver used the equipment for 1,680 hours the first year. Required: Calculate depreciation expense of the equipment for the first year, using each of the following methods. (Do not round your Intermediate calculations.) 1. Straight-line. Depreciation expense 2. Double-declining-balance. Depreciation expense 3. Activity-based Depreciation expense 1. Straight-line. Year Annual Depreciation 3. Activity-based Year Annual Depreciation Togo's Sandwiches acquired equipment on April 1, 2021, for $15.500. The company estimates a residual value of $1.500 and a five- year service life. Required: Calculate depreciation expense using the straight-line method for 2021 and 2022 assuming a December 31 year-end. 2021 2022 Depreciation expense Tasty Subs acquired a delivery truck on October 1, 2021, for $15,900. The company estimates a residual value of $2,100 and a six-year service life. Required: Calculate depreciation expense using the straight-line method for 2021 and 2022 assuming a December 31 year-end. 2021 2022 Depreciation expense Tasty Subs acquired a delivery truck on October 1, 2021, for $16.500. The company estimates a residual value of $1.500 and a six-year service life. It expects to drive the truck 100,000 miles. Actual mileage was 4.000 miles in 2021 and 17.000 miles In 2022 Required: Calculate depreciation expense using the activity-based method for 2021 and 2022, assuming a December 31 year-end. (Do not round your Intermediate calculations.) 2021 2022 Depreciation expense
