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9 Check At December 31, 2017, Cord Company's plant asset and accumulated depreciation and amortization accounts had balances as follows: 2.5 polnts 179,000 1,700,000 1,325,000 176,000 224,000 332,900 321,500 104,325 112,000 Land improvements ReterencesDepreclation methods and useful lives: Buildings-150% declining balance; 25 years. Machinery and equipment-Straight line; 10 years. Automobiles and trucks-150% d Leasehold improvements-Straight line. Land improvements-Straight line ing balance; 5 years, all acquired after 2014. Depreciation is computed to the nearest month and residual values are Immaterial. Transactions during 2018 and other information: a. On January 6, 2018, a plant facility consisting of land and building was acquired from King Corp. in exchange for 29,000 shares of Cord's common stock. On this date, Cord's stock had a fair value of $60 a share. Current assessed values of land and building for property tax purposes are $237,000 and $553,000, re These e lease, which would terminate on December 31, 2020, was renewable for an additional four-year term. On April 30, 2018, Cord b. On March 25, 2018, new parking lots, streets, and sidewalks at the acquired plant facility were completed at a total cost of $216,000. tures had an estimated useful life of 12 years. were completed on December 31, 2014, and hed an estimated useful life of eight years. The related c. The leasehold improvements exercised the renewal ontion Prey 9 of 10 Next 11 H Help vepreciauon is computea to tne nearest a. On January 6,2018, a plant facility consisting of land and building was acquired from King Corp. In exchange for 29,000 shares of b. On March 25 20 8 new park ng lots, streets, and sidewalksatthe acquired plant c y were completed at a to al cost of S216 . c. The leasehold improvements were completed on December 31, 2014, and had an estimated useful life of elght years. The related d. On July 1, 2018, machinery and equipment were purchased at a total invoice cost of $329,000. Additional costs of $11,000 for e. On August 30, 2018, Cord purchased a new automobile for $12,900. ana resiauai vaiues are immatersan. iransactuons auning zuie ana ouner inmorimauon. Cord's common stock. On this date, Cord's stock had a fair value of $60 a share. Current assessed values of land and property tax purposes are $237,000 and $553,000, respectively. These expenditures had an estimated useful life of 12 years. lease, which would terminate on December 31, 2020, was renewable for an additional four-year term, On April 30, 2018, Cord exercised the renewal option. delivery and $54,000 for installation were incurred. Depreciation for the nine months ended September 30, 2018, was $2,205. cash recovery. f. On September 30, 2018, a truck with a cost of $24,400 and a book value of $9,800 on date of sale was sold for $11,900. g. On December 20, 2018, a machine with a cost of $19,000 and a book value of $3,075 at date of disposition was scrapped without 1. Prepare a schedule anblyzing the changes in each of the plant asset accounts during 2018. Do not analyze changes in accumulated depreciation and amortization. Required: 2. For each asset category, prepare a schedule showing depreciation or amortization expense for the year ended December 31, 2018 Complete this question by entering your answers in the tabs below. 9 of 10 Next >