Problem 9-2A At December 31, 2014, Navaro Corporation reported


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I have attached the assignment.I need all items journalized.Please journalize all items I need the assignment no later tan the deadline.This assignment is very hard to complete.If ossible please provide step by step directions TutorProblem 9.docx Problem 9-2A At December 31, 2014, Navaro Corporation reported the following plant assets. Land Buildings $28,830,000 Date Account Titles and Explanation Less: Accumulated depreciation—buildings 21,643,875 Equipment 72,600,000 Less: Accumulated depreciation— 9,075,000 equipment Total plant assets $ 5,445,000 Debit 7,186,125 Credit 63,525,000 $76,156,125 During 2015, the following selected cash transactions occurred. Apr. May 1 1 June July Dec. 1 1 3 1 Purchased land for $3,993,000. Sold equipment that cost $1,089,000 when purchased on January 1, 2008. The equipment was sold for $308,550. Sold land for $2,904,000. The land cost $1,815,000. Purchased equipment for $1,996,500. (To record depreciation on equipment sold) Retired equipment that cost $1,270,500 when purchased on December 31, 2005. No salvage value was received. Journalize the transactions. Navaro uses straight-line depreciation for buildings and equipment. The buildings are estimated to have a 40-year useful life and no salvage value; the equipment is estimated to have a 10-year useful life and no salvage value. Update depreciation on assets disposed of at the time of sale or retirement. (Record entries in the order displayed in the problem statement. Credit account titles are automatically indented when amount is entered. Do not indent manually.) SHOW LIST OF ACCOUNTS LINK TO TEXT Record adjusting entries for depreciation for 2015. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date. Account Titles and Explanation Debit Credit Dec. SHOW LIST OF ACCOUNTS 31 LINK TO TEXT 31 (To record depreciation on buildings.) (To record depreciation on equipment retired) Prepare the plant assets section of Navaro’s balance sheet at December 31, 2015. (Hint: You may wish to set up T accounts, post beginning balances, and then post 2015 transactions.) (List Plant Assets in order of Land, Building and Equipment.) NAVARO CORPORATION Partial Balance Sheet December 31, 2015 $ $ : : $ SHOW LIST OF ACCOUNTS LINK TO TEXT LINK TO TEXT Question Attempts: 0 of 3 used SAVE FOR LATER SUBMIT ANSWER Copyright © 2000-2016 by John Wiley & Sons, Inc. or related companies. All rights reserved. Read more

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