please dont provide solution in an image format thank you Accumulated Depreciation BuildingsAccumulated Depreciation-Equipment.Assets,INDIGO CORPORATIONPartial Balance SheetDecember 31, 2026267100001268725071082800153149507501200140227505576785077291800 At December 31, 2025, Indigo Corporation reported the following plant assets.LandBuildingsLess: Accumulated depreciation-buildingsEquipmentLess: Accumulated depreciation-equipmentTotal plant assetsDuring 2026, the following selected cash transactions occurred.Apr.MayJune111.$26,710,00012,019,50071,440,0008,930,000July 1Dec. 31$5,358,00014,690,50062,510,000$82,558,500Purchased land for $3,929,200.Sold equipment that cost $1,071,600 when purchased on January 1, 2019. The equipment was sold for $303,620.Sold land for $2,857,600. The land cost $1,786,000.Purchased equipment for $1,964,600.Retired equipment that cost $1,250,200 when purchased on December 31, 2016. No salvage value was received.

Depreciation is reduction in the value of assets due to its use, wear or tear. Accumulated…

At December 31, 2025, Indigo Corporation reported the following plant assets. Land Buildings Less: Accumulated depreciation-buildings Equipment Less: Accumulated depreciation-equipment Total plant assets $26,710,000 12,019,500 71,440,000 8,930,000 During 2026, the following selected cash transactions occurred. Apr. 1 Purchased land for $3,929,200. May 1 $5,358,000 June 1 July 1 Purchased equipment for $1,964,600. Dec. 31 14,690,500 62,510,000 $82,558,500 Sold equipment that cost $1,071,600 when purchased on January 1, 2019. The equipment was sold for $303,620. Sold land for $2.857,600. The land cost $1,786,000. Retired equipment that cost $1,250,200 when purchased on December 31, 2016. No salvage value was received.

At December 31, 2025, Indigo Corporation reported the following plant assets. Land Buildings Less: Accumulated depreciation-buildings Equipment Less: Accumulated depreciation-equipment Total plant assets $26,710,000 12,019,500 71,440,000 8,930,000 During 2026, the following selected cash transactions occurred. Apr. 1 Purchased land for $3,929,200. May 1 $5,358,000 June 1 July 1 Purchased equipment for $1,964,600. Dec. 31 14,690,500 62,510,000 $82,558,500 Sold equipment that cost $1,071,600 when purchased on January 1, 2019. The equipment was sold for $303,620. Sold land for $2.857,600. The land cost $1,786,000. Retired equipment that cost $1,250,200 when purchased on December 31, 2016. No salvage value was received.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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