urses/25920/assignments/3314846 Current Attempt in Progress At December 31, 2022, Swifty Corporation reported the following plant assets. Land $4,353,000 Buildings $26,720,000 Less: Accumulated depreciation-buildings 17,303,175 9416,825 Equipment 58,040,000 7.255.000 50.785.000 Less: Accumulated depreciation-equipment Total plant assets $64.554,825 During 2023, the following selected cash transactions occurred. Apr. 1 Purchased land for $3.192.200. May 1 Sold equipment that cost $870.600 when purchased on January 1, 2016. The equipment was sold for S246.670. June 1 Sold land for $2.321,600. The land cost $1.451.000. July 1Purchased equipment for $1.596,100. Dec. 31 Retired equipment that cost $1.015,700 when purchased on December 31, 2013. No salvage value was received. 20/assignments/3314846 Equipment 870,600 Gain on Disposal of Plant Assets 14,510 June 1 Cash 2,321,600 Land 1,451,000 Gain on Disposal of Land 870,600 July 1 Equipment 1,596,100 Cash 1.596.100 Dec. 31 Depreciation Expense 1.015.700 Accumulated Depreciation Equipment 1.015,700 (To record depreciation on equipment retired) Accumulated Depreciation-Equipment 1015,700 Equipment 1.015.700 sad radio O REW 120yJJTU Record adjusting entries for depreciation for 2023. (Credit account titles are automatically Indented when amount is entered. Do na manually. If no entry is required, select "No Entry for the account titles and enter for the amounts.) Date Account Titles and Explanation Debit Credit Dec. 31 Depreciation Expense 668,000 Accumulated Depreciation-Buildings 668,000 (To record depreciation on buildings.) Dec. 31 Depreciation Expense 5,774,980 Accumulated Depreciation-Equipment 5,774,980 (To record depreciation on equipment.) e Textbook and Media List of Accounts - Your answer is partially correct. Prepare the plant assets section of Swifty's balance sheet at December 31, 2023. (Hint: You may wish to set up Taccounts, post beginning balances, and then post 2023 transactions.) (List Plant Assets in order of Land, Building and Equipment.) SWIFTY CORPORATION Partial Balance Sheet December 31, 2023 Total Plant Assets Land 6,094.200 Buildings 26,720,000 Less : Accumulated Depreciation-Buildings 17,971,175 8,748,825 Equipment 57.749,800 Accumulated Depreciation Equipment 13,029.980 44719.820 Total Plant Assets 59.562.84 e Textbook and Media