Yoshi company completed the following transactions and events involving its delivery trucks. 2016 jan. 1 paid $23,515 cash plus $1,935 in sales tax for a new delivery truck estimated to have a five-year life and a $2,300 salvage value. delivery truck costs are recorded in the trucks account. dec. 31 recorded annual straight-line depreciation on the truck. 2017 dec. 31 due to new information obtained earlier in the year, the truck’s estimated useful life was changed from five to four years, and the estimated salvage value was increased to $2,550. recorded annual straight-line depreciation on the truck. 2018 dec. 31 recorded annual straight-line depreciation on the truck. dec. 31 sold the truck for $5,300 cash. required: 1-a. calculate depreciation for year 2017. 1-b. calculate book value and gain (loss) for sale of truck on december, 2018. 1-c. prepare journal entries to record these transactions and events.

Flounder supply company, a newly formed corporation, incurred the following expenditures related to land, to buildings, and to machinery and equipment. abstract company’s fee for title search $1,066 architect’s fees 6,499 cash paid for land and dilapidated building thereon 178,350 removal of old building $41,000 less: salvage 11,275 29,725 interest on short-term loans during construction 15,170 excavation before construction for basement 38,950 machinery purchased (subject to 2% cash discount, which was not taken) 112,750 freight on machinery purchased 2,747 storage charges on machinery, necessitated by noncompletion of building when machinery was delivered 4,469 new building constructed (building construction took 6 months from date of purchase of land and old building) 994,250 assessment by city for drainage project 3,280 hauling charges for delivery of machinery from storage to new building 1,271 installation of machinery 4,100 trees, shrubs, and other landscaping after completion of building (permanent in nature) 11,070 instructions determine the amounts that should be debited to land, to buildings,and to machinery and equipment. assume the benefits of capitalizing interest during constructionexceed the cost of implementation. indicate how any costs notdebited to these accounts should be recorded.