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I need some help please
P10-1 (Classification of Acquisition and Other Asset Costs) At December 31, 2011, certain accounts included in the property, plant, and equipment section of Reagan Companys balance sheet had the Land $890,000 $660,000 Leasehold improvements During 2014 the following transactions occurresd 1 Land site number 62 1 was acquired for「S850000コIn addition, toi quire the land Reagan paid a $35,000 were incurred $51,000commission to a real estate agent. Costs of to clear the land. During the course of clearing the land, timber and gravel were recovered and sold for $13,000 2. A second tract of land (site number 622) with a building was acquired for The closing statement indicated that the land value was $300,000 and the building alue was $41,000 $120.000 Shortly after acquisition, the building was demolished at a cost o! A new building was constructed for costs Excavation fees Architectural design fees 38,000 $11,000 500 Imputed interest on funds used during construction (Stock financing 500 The building was completed and occupied on September 30 2014 3. A third tract of land (site number 623) was acquired for 650,000and was put on the market for resale 4. During December 2014, costs of $89000 were incurred to improve leased office space The related lease will terminate on December 31, 2016, and is not expected to be renewed (Hint: Leasehold improvements should be handled in the same manner as land improvements.) 5. A group of new machines was purchased under a royalty agreement that provides for royalties based on units of production for the machines The invoice price of the machines was nstallation costs were$2400 $87.000freight costs were and royalty payments for 2014 were $3,300 $17,500 Instructions: (a) Prepare a detailed analysis of the changes in each of the following balance sheet accounts for 2014 Leasehold Improvements Land Disregard the related accumulated depreciation accounts
Text Title ext Title Text Title Text Title Amount Amoun Amount Amount Amount Text Title Text Title Total land site number 622 Balance at December 31, 2014 REAGAN COMPANY Analysis of Building Account for 2014 Cost of new building constructed on land site number 622 Text Title Text Title Text Title Text Title Amount Amount REAGAN COMPANY Analysis of Leasehold Account for 2014 Amount Balance, January 1. 2014 Text Title REAGAN COMPANY Analysis of Machinery & Equipment Account for 2014 Amount Balance, January 1,2014 Cost of the new machines acquired Text Title Text Title Text Title Balance at December 31, 2014 Amount Amount Amount Formula
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