Question: Can you please assist me with this problem CALCULATOR PRINTER VERSION | BACK Problem 9-2A (Part Level Submission) At December 31, 2017, Sarasota Corporation reported
CALCULATOR PRINTER VERSION | BACK Problem 9-2A (Part Level Submission) At December 31, 2017, Sarasota Corporation reported the following plant assets. Land Buldings Less: Accumulated depreciation- buildings Equipment Less: Accumulated depreciation- equipment Total plant assets $5,898,000 26,650,000 23,444,550 3,205,450 78,640,000 9,830,000 68,810,000 $77,913,450 During 2018, the following selected cash transactions occurred Study Apr. 1 May 1 June 1 July 1 Dec. 31 Purchased land for $4,325,200. Sold equipment that cost $1,179,600 when purchased on January 1, 2011. The equipment was sold for $334,220. Sold land for $3,145,600. The land cost $1,966,000. Purchased equipment for $2,162,600 Retired equipment that cost $1,376,200 when purchased on December 31, 2008. No salvage value was received. (a) Journalize the transactions. Sarasota uses straight-line depreciation for buildings and equipment. The buildings are estimated t a 40-year useful life and no salvage value; the equipment is estimated to have a 10-year useful life and no salvage value. Upd depreciation on assets disposed of at the time of sale or retirement. (Record entries in the order displayed in the proble statement. Credit account tities are automatically indented when amount is entered. Do not indent manually. Itn entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Credit Debit Date Account Titles and Explanation April 1 NEXT URCES Date Account Titles and Explanation Deblt Credit April1 May 1 To record depreciation on equipment sold) Study June 1 uly 1 Dec. 31 (To record depreciation on equipment retired) Chapter 9 ent Exendse 9-2 se 9-1 Review 9-2 Exercise 9-6 Exercise 9-3 em 9-2A (Par ise 9-12 Score Results by Study ve (To record depreclation on equipment retired) Click if you would like to Show Work for this question: Open Show Work SHOW LIST OF ACCOUNTS VIDEO: SIMILAR PROBLEM LINK TO TEXT LINK TO TEXT LINK TO TEXT Attempts: 0 of 3 used SAVE FOR LATER SURNET ANSWER MacBook Pro
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