Toyota built a temporary manufacturing facility costing $25,000,000: $15.000.000 for building & $1o.000.000 for machinery and...

  

  

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Toyota built a temporary manufacturing facility costing $25,000,000: $15.000.000 for building & $1o.000.000 for machinery and equipment. Toyota estimates the net cost of dismantling/removing the building @ $750.000 and removing equipment @ $135.000 after their useful life. Useful life of the manufacturing facility is 18 years, and the company uses a 8% discount rate in determining present values. Required: Journalize the cost of the building and machinery & equipment (in whole numbers) Show your work. Then, journalize. Account Name Debit Credit Question #18, Treatment of Accumulated Depreciation Upon Revaluation: Assume Globe Inc. has buildings that cost $1,400,000, with accumulated depreciation of $700,000 and carrying amount of $700,000. Globe Inc. determines the market value for the buildings is $800,000 as of December 31st. Required: Complete the required December 31* journal entry based on the new market valuation. Show your work. Then, journalize. Account Name Debit Credit Toyota built a temporary manufacturing facility costing $25,000,000: $15.000.000 for building & $1o.000.000 for machinery and equipment. Toyota estimates the net cost of dismantling/removing the building @ $750.000 and removing equipment @ $135.000 after their useful life. Useful life of the manufacturing facility is 18 years, and the company uses a 8% discount rate in determining present values. Required: Journalize the cost of the building and machinery & equipment (in whole numbers) Show your work. Then, journalize. Account Name Debit Credit Question #18, Treatment of Accumulated Depreciation Upon Revaluation: Assume Globe Inc. has buildings that cost $1,400,000, with accumulated depreciation of $700,000 and carrying amount of $700,000. Globe Inc. determines the market value for the buildings is $800,000 as of December 31st. Required: Complete the required December 31* journal entry based on the new market valuation. Show your work. Then, journalize. Account Name Debit Credit