to) Question Help t Gloria Roper Associates surveys American eating habits. The company's accounts include Land, Buildings, Office Equipment, and Communication Equipment, with a separate Accumulated Depreciation account for each depreciable ass i i More Info Red exp Jan. 1 Jan (Re Apr. 1 D Ja Sep. 1 Dec. 31 Purchased office equipment, $111,000. Paid $79,000 cash and financed the remainder with a note payable. Acquired land and communication equipment in a lump-sum purchase. Total cost was $390,000 paid in cash. An independent appraisal valued the land at $307,125 and the communication equipment at $102,375. Sold a building that cost $580,000 (accumulated depreciation of $280,000 through December 31 of the preceding year). Gloria Roper Associates received $410,000 cash from the sale of the building. Depreciation is computed on a straight-line basis. The building has a 40-year useful life and a residual value of $40,000. Recorded depreciation as follows: Communication equipment is depreciated by the straight-line method over a five-year life with zero residual value. Office equipment is depreciated using the double-declining- balance method over five years with a $4,000 residual value. Print Done Choose from any list or enter any number in the input fields and then click Check Answer. 5 parts remaining Clear All Check Answer X ?