Question

Question 3 View Policies Show Attempt History Current Attempt in Progress At December 31, 2022, Pronghorn Corporation reported the following plant assets. Land $3,498.000 Buildings 12,725,450 Less: Accumulated depreciation-buildings Equipment $26,630,000 13,904,550 46,640,000 5,830,000 Less: Accumulated depreciation-equipment 40,810,000 Total plant assets $57,033,450 During 2023, the following selected cash transactions occurred. Apr. 1 Purchased land for $2.565,200. May 1 Sold equipment that cost $699.600 when purchased on January 1, 2016. The equipment was sold for $198.220. June 1 Sold land for $1,865,600. The land cost $1,166,000. July 1 Purchased equipment for $1,282,600. Dec. 31 Retired equipment that cost $816,200 when purchased on December 31, 2013. No salvage value was received.

Answer 1

redit Debit a5,65,200 land Apilt Caslh 2565,260 23,3a0 Depieciation Expense Accemulated Repuciatón- Equipmunt To secend papreciahon enequipmt May1 23,3a0 Lold Cash 1,48,220 Accumulatd Depuciation- Equipment 5,13,040 M,660 ain en Sale of Plant Auets quipment 6,99,600 1,865,600 June 1 Cash Sale Gain on of land 6 99,600 Land Sale 1,166,000 e1 Land) Equipment 8, 600 1 July |। १8३,6e० Cash CEquipmeut purchaid) Dec. 31 Depevciation Expanse Accumulated Depuciatien -Equipment Depreciation 81,610 81,620 en Equipment seted) Accumulated Deprciatien- quipmunt 816,2e0 fqui pmerct 8,16,3e0

oudit Debit 665150 Dpruciation Epense ALcumulatead Dapauciatien- Buddi Dec. 31 6,65,150 4,516,550 bepuciation Eypense Accumulakd apuciatón- Equipment Dec. 3 4,516,550 Pasutial Balance Shewt Decembuy 31,2033 Plant Assers $4,89 7,200 land $ 96, 630,600 Butlafngs le: Accumulated Deeciation-Bedings Equipment es Accumulated Dbacieten fquipmant 91,83,a50 37, 284,550 13,938,800 13, 391,deo # 46,406, 800 Tetal Plant ALlets $55,513,950 Hope u liked do answer & you 9Thumb'sup to giu Dont ferget

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