The Thompson Corporation, a manufacturer of steel products, began operations on October 1. 2022. The accounting department of Thompson has started the fixed-asset and depreciation schedule presented below. You have been asked to assist in completing this schedule. In addition to ascertaining that the data already on the schedule are correct, you have obtained the following information from the company's records and personnel. Note: Use tables, Excel, or a financial calculator. (FV of \$1. PV of \$1. EVA of S1. PVA of S1, EVAD of S1 and PVAD of S1) a. Depreciation is computed from the first of the month of acquisition to the first of the month of disposition. b. Land A and Building A were acquired from a predecessor corporation Thompson paid $872,500 for the land and buliding together. At the time of acquisition, the land had a fair value of $76,800 and the building had a fair value of $883.200. c. Land B was acquired on October 2,2022 , in exchange for 3,600 newly issued shares of Thompsoris common stock At the date of acquisition, the stock had a par value of $5 per share and a fair value of $31 per share. During October-2022, Thompson paid \$11,000 to demolish an existing bulding on this land so it could construct a new bulding d Construction of Buading B on the newly acquired land began on October 1, 2023. By September 30, 2024, Thompson had paid $270.000 of the estimated total construction costs of $360,000. Estimated completion and occupancy are July 2025 e. Certain equipment was donated to the corporation by the city. An independent appraisal of the equipment when donated placed the fair value at $18,400 and the residual value at $2,600 f. Equipment A's total cost of $113,600 includes installation charges of $610 and normal repairs and maintenance of $11.000 Residual value is estimated ot $9,000. Equipment A wos sold on February 1, 2024 9. On October 1, 2023, Equipment B was acquired with a down payment of $4,600 and the remaining payments to be made in 10 the fair value at $18,400 and the residual value at $2,600. f. Equipment A's total cost of $113,600 includes installation charges of $610 and normal repairs and maintenance of $11,000. Residual value is estimated at $9,000. Equipment A was sold on February 1,2024. 9. On October 1, 2023, Equipment B was acquired with a down payment of $4,600 and the remaining payments to be made in 10 annual installments of $4,600 each beginning October 1, 2024. The prevaling interest rate was 8% Required: Supply the correct amount for each answer box on the schedule. Note: Round your intermediate calculations and final answers to the nearest whole dollar. X Answer is complete but not entirely correct. Talile- 1 uitere value of 5f Table 3 Futare Value of an Ordinary Annuity of $1 Table A Prevent Vatue of an Ordinary Annuity of S1 Table 5 Fuiure Value of 20 Ansuity Due of $1 Table 6 Jrecent Valer of an Annuity Doe of $1
