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Question 12 of 12 View Policies Current Attempt in Progress At December 31, 2019, Grouper Enterprises reported the following as plant assets. €3,770,000 Land Buildings Less: Accumulated depreciation-buildings Equipment Less: Accumulated depreciation-equipment Total plant assets April 1 During 2020, the following selected cash transactions occurred. May €27,870,000 11.900.000 Purchased land for €2.120,000, 48,370,000 4,850,000 15,970,000 43,520,000 €63.260,000 -/10 I!! Sold equipment that cost €930,000 when purchased on January 1, 2016. The equipment was sold for €577,840.
+44 Question 12 of 12 During 2020, the following selected cash transactions occurred. April 1 May 1 June 1 July 1 Dec. 31 Purchased land for €2,120,000. Sold equipment that cost €930.000 when purchased on January 1, 2016. The equipment was sold for €577.840. Sold land purchased on June 1,2010 for €1.490,000 The land cost €394,000 Purchased equipment for €2.480.000 -/10 E I Retired equipment that cost €508,000 when purchased on December 31, 2010, No residual value was received. Journalize the above transactions. The company uses straight-line depreciation for buildings and equipment. The buildings are estimated to have a 50-year life and no residual value. The equipment is estimated to have a 10-year useful life and no residual value. Update depreciation on assets disposed of at the time of sale or retirement. (Credit account titles are automatically indented when amount is entered. Do not indent manually) Account Titles and Explanation Date Debit Credit
← CH9HW Question 12 of 12 when amount is entered Do not indent manually) ( Date Account Titles and Explanation (To record depreciation) Debit -/10 E1 Credit
Question 12 of 12 Record adjusting entries for depreciation for 2020. (Credit account titles are automatically indented when amount is entered. Do not indent manually Date Account Titles and Explanation Dec. 31 Dec. 31 (To record building depreciation) (To record equipment deprecition) eTextbook and Media List of Accounts Debit Credit
CH9 HW -/10 E Question 12 of 12 Prepare the plant assets section of Grouper's statement of financial position at December 31, 2020. List Property, plant and equipment in order of land, buildings and equipment) GROUPER ENTERPRISES Partial Statement of Financial Position 1