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will rate for quick reply! GROUPER CORPORATION Partial Balance Sheet December 31, 2023 Plant Assets Land $ Buildings $ Less Accumulated Depreciation-Buildings Equipment Less V:
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GROUPER CORPORATION Partial Balance Sheet December 31, 2023 Plant Assets Land $ Buildings $ Less Accumulated Depreciation-Buildings Equipment Less V: Accumulated Depreciation Equipment Total Plant Assets $ Record adjusting entries for depreciation for 2023. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Date Account Titles and Explanation Debit Credit Dec. 31 Depreciation Expense 88270 Accumulated Depreciation-Buildings 664750 (To record depreciation on buildings.) Dec. 31 Depreciation Expense 4949425 Accumulated Depreciation-Equipment 4949425 (To record depreciation on equipment.) At December 31, 2022, Grouper Corporation reported the following plant assets. $ 3,783,000 11,532,575 Land Buildings Less: Accumulated depreciation-buildings Equipment Less: Accumulated depreciation-equipment Total plant assets $26,570,000 15,037,425 50,440,000 6,305,000 44,135,000 $59,450,575 During 2023, the following selected cash transactions occurred. 1 1 Apr. May June July Dec. 1 Purchased land for $2,774,200. Sold equipment that cost $756,600 when purchased on January 1, 2016. The equipment was sold for $214,370. Sold land for $2,017,600. The land cost $1,261,000. Purchased equipment for $1,387,100. Retired equipment that cost $882,700 when purchased on December 31, 2013. No salvage value was received. 1 31Step by Step Solution
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