View Policies Current Attempt in Progress At December 31, 2022. Martinez Corporation reported the following plant assets. $ 3.783,000 11,552,575 Land Buildings Less: Accumulated depreciation--buildings Equipment Less: Accumulated depreciation-equipment Total plant assets $26,590,000 15,037,425 50,440,000 6,305,000 44.135.000 $59.470,575 1 During 2023, the following selected cash transactions occurred. Apr. Purchased land for $2.774,200. ho May Sold equipment that cost $756,600 when purchased on January 1, 2016. The equipment was sold for $214,370. June 1 Sold land for $2,017,600. The land cost $1.261,000. July 1 Purchased equipment for $1,387,100. Dec. 31 Retired equipment that cost $882.700 when purchased on December 31, 2013. No salvage value was received, 1 Enter the 2023 transactions in the tabular summary from part (a). Martinez uses straight-line depreciation for buildings and equipment. The buildings are estimated to have a 40-year useful life and no salvage value; the equipment is estimated to have a 10-year useful life and no salvage value. Update depreciation on assets disposed of at the time of sale or retirement (if a transaction causes a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced.) Assets Cash Land $3,783,000 2.774,200 Buildings $26,590,000 Accum. Dep SC Bal. Apr. 1 $ (2.774,200) May 1 May 1 June 1 July 1 Dec. 31 Dec. 31 Enter the 2023 transactions in the tabular summary from part (a). Martinez uses straight-line depreciation for buildings and equipment. The buildings are estimated to have a 40-year useful life and no salvage value; the equipment is estimated to have a 10-year useful life and no salvage value. Update depreciation on assets disposed of at the time of sale or retirement. (If a transaction causes a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced.) Liabilities Accum. Depr. - Bldgs. $(15.037.425) Equipment $50.440,000 Accum. Depr.- Equip. $(6,305,000) VA Enter the 2023 transactions in the tabular summary from part (a). Martinez uses straight-line depreciation for buildings and equipment. The buildings are estimated to have a 40-year useful life and no salvage value the equipment is estimated to have a 10-year useful life and no salvage value. Update depreciation on assets disposed of at the time of sale or retirement. (If a transaction causes a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign for parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced.) Liabilities Stockholders' Equity Retained Earnings Expense Common Stock Revenue $ 2023 transactions in the tabular summary from part (a). Martinez uses straight-line depreciation for buildings and nt. The buildings are estimated to have a 40-year useful life and no salvage value; the equipment is estimated to have useful life and no salvage value. Update depreciation on assets disposed of at the time of sale or retirement.(fa on causes a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parentheses) in front of the amoun or the particular Asset, Liability or Equity item that was reduced.) tockholders' Equity Retained Earnings Expense Dividend $ $
