please help there are multiple pictures but they go in order to the question ple

Question

please help

there are multiple pictures but they go in order to the question please help

Problem 10-5A At December 31, 2017, Grand Company reported the following as plant assets. Land Buildings Less: Accumulated depreciation-buildings 12,490,000 15,640,000 Equipment $ 4,360,000 $28,130,000 48,640,000 Less: Accumulated depreciation-equipment 5,290,000 43,35o,oo Total plant assets $63,350,000 During 2018, the following selected cash transactions occurred. April 1 May 1 June 1 July 1 Dec. 31 Purchased land for $2,050,000. Sold equipment that cost $1,020,000 when purchased on January 1, 2014. The equipment wa Sold land purchased on June 1, 2008 for $1,560,000. The land cost $403,000. Purchased equipment for $2,580,000 Retired equipment that cost $490,000 when purchased on December 31, 2008. No salvage val

Explanation / Answer

Cost of Equipment sold on may 1 $1,020,000.00 Dep for 4 year $408,000.00 Dep. For 4 Month in 2018 $34,000.00 Book Value $578,000.00 Sale $612,000.00 Profit on Sale $34,000.00 Account Title Debit Credit Land $2,050,000.00      Cash $2,050,000.00 Cash $612,000.00 Accum. Dep.(for 4 year) $408,000.00 Depreciation Expense(for 4 month) $34,000.00      Equipment $1,020,000.00      Profit on sale of Equipment $34,000.00 Cash $1,560,000.00      Profit on sale of Land $1,157,000.00      Land $403,000.00 Equipment $2,580,000.00        Cash $2,580,000.00 Depreciation Expense $49,000.00         Accum. Dep. $49,000.00 (Depreciation on retired Equipment recognized) Accumulated Dep. $490,000.00         Equipment $490,000.00 (Equipment Retired and No salvage rec.) Equipment cost at begning $48,640,000.00 Purchased $2,580,000.00 Sold -$1,510,000.00 Cost at end of 2018 $49,710,000.00 Date Account Title Debit Credit 31-Dec Depreciation Expense $129,000.00         Accum. Dep. On equipment $129,000.00 (Depreciation on Equipment purchased on 1 july) Depreciation Expense $4,713,000.00         Accum. Dep. On equipment $4,713,000.00 (Depreciation on Equipment at begning) Balance Sheet as at Dec.31 2018 Amount $ Equipment $49,710,000.00 Less: Accumulated Dep. $9,234,000.00 $40,476,000.00

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