Machinery that cost $196,000 on 1 January 20X1 was sold for $75,000 on 30 June 20X6....

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Machinery that cost $196,000 on 1 January 20X1 was sold for $75,000 on 30 June 20X6. It was being depreciated over a 10-year life by the straight-line method, assuming its residual value would be $14,000. A building that cost $1,740,000, residual value $104,000, was being depreciated over 20 years by the straight-line method. At the beginning of 20X6, when the structure was 8 years old, an additional wing component was constructed at a cost of $530,000. The estimated life of the wing considered separately was 15 years, and its residual value was expected to be $23,000. The accounting period ends 31 December. Required: 1. Give all required entries to record: a. Sale of the equipment, including depreciation to the date of sale. b. The addition to the building-cash was paid. c. Depreciation on the building and its addition after the latter has been in use for one year. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Do not round intermediate calculations.) View transaction list Journal entry worksheet 1 2 3 4 5 1. Give all required entries to record: a. Sale of the equipment, including depreciation to the date of sale. b. The addition to the building-cash was paid. c. Depreciation on the building and its addition after the latter has been in use for one year. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Do not round intermediate calculations.) View transaction list Journal entry worksheet 1 2 3 4 5 Record the depreciation expenses (Equipment). Note: Enter debits before credits. Transaction a-1 General Journal Debit Credit Machinery that cost $196,000 on 1 January 20X1 was sold for $75,000 on 30 June 20X6. It was being depreciated over a 10-year life by the straight-line method, assuming its residual value would be $14,000. A building that cost $1,740,000, residual value $104,000, was being depreciated over 20 years by the straight-line method. At the beginning of 20X6, when the structure was 8 years old, an additional wing component was constructed at a cost of $530,000. The estimated life of the wing considered separately was 15 years, and its residual value was expected to be $23,000. The accounting period ends 31 December. Required: 1. Give all required entries to record: a. Sale of the equipment, including depreciation to the date of sale. b. The addition to the building-cash was paid. c. Depreciation on the building and its addition after the latter has been in use for one year. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Do not round intermediate calculations.) View transaction list Journal entry worksheet 1 2 3 4 5 1. Give all required entries to record: a. Sale of the equipment, including depreciation to the date of sale. b. The addition to the building-cash was paid. c. Depreciation on the building and its addition after the latter has been in use for one year. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Do not round intermediate calculations.) View transaction list Journal entry worksheet 1 2 3 4 5 Record the depreciation expenses (Equipment). Note: Enter debits before credits. Transaction a-1 General Journal Debit Credit