Current Attempt in Progress

At December $31,2025,$ Grouper Corporation reported the following plant assets.

During $2026,$ the following selected cash transactions occurred.

Apr. $1$ Purchased land for $$2,774,200.$

May $1$ Sold equipment that cost $$756,600$ when purchased on January $1,2019.$ The equipment was sold for $$214,370.$

June $1$ Sold land for $$2,017,600.$ The land cost $$1,261,000.$

July $1$ Purchased equipment for $$1,387,100.$

Dec. $31$ Retired equipment that cost $$882,700$ when purchased on December $31,2016.$ No salvage value was received. Your answer is correct.

Journalize the transactions. $($Hint: You may wish to set up T$-$accounts, post beginning balances, and then post $2026$ transactions.$)$

Grouper uses straight$-$line depreciation for buildings and equipment. The buildings are estimated to have a $40-$year useful life and

no salvage value; the equipment is estimated to have a $10-$year useful life and no salvage value. Update depreciation on assets

disposed of at the time of sale or retirement. $($List all debit entries before credit entries. Record entries in the order displayed in the

problem statement. 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.$)($b$)$

Record adjusting entries for depreciation for $2026.($List debit entry before credit entry. 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 $0$ for the

amounts.$)$

$($To record depreciation on buildings$)$

$($To record depreciation on equipment$)$

eTextbook and Media

List of Accounts $($c$)$

Prepare the plant assets section of Grouper's balance sheet at December $31,2026.($List Plant Assets in order of Land, Building, and

Equipment.$)$

GROUPER CORPORATION

Partial Balance Sheet

eTextbook and Media

List of Accounts

Attempts: unlimited