Question: Data table Requirements 1. Columns for Land, Land Improvements, Building, and Furniture have been set up. Show how to account for each cost by listing





Data table Requirements 1. Columns for Land, Land Improvements, Building, and Furniture have been set up. Show how to account for each cost by listing the cost under the correct account. Determine the total cost of each asset. 2. All construction was complete and the assets were placed in service on July 1. Record partial-year depreciation for the year ended December 31. Round to the nearest dollar. Park and Go, near an airport, incurred the following costs to acquire land, make land improvements, and construct and furnish a small building: (Click the icon to view the financial data.) Park and Go depreciates land improvements over 20 years, buildings over 30 years, and furniture over 12 years, all on a straight-line basis with zero residual value. Read the requirements. Requirement 1. Columns for Land, Land Improvements, Building, and Furniture have been set up. Show how to account for each cost by listing the cost under the correct account. Determine the total cost of each asset. Begin by listing each cost for items a. through i. first, followed by items j. through q. Then determine the total cost of each asset. (If a box is not used in the table, leave the box empty; do not enter a zero.) Requirement 2. All construction was complete and the assets were placed in service on July 1. Record partial-year depreciation for the year ended December 31 . Round to the nearest dollar. (Record a single compound journal entry. Round all depreciation expense amounts to the nearest whole dollar. Record debits first, then credits. Select the explanation on the last line of the journal entry table.)
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