Cala Manufacturing purchases land for $467,000 as part of its plans to build a new...
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Cala Manufacturing purchases land for $467,000 as part of its plans to build a new plant. The company pays $38,000 to tear down an old building on the lot and $56,174 to fill and level the lot. It also pays construction costs $1,698,400 for the new building and $107.208 for lighting and paving a parking area, Prepare a single journal entry to record these costs incurred by Cala, all of which are paid in cash. 1 2 3 Record the Accumulated amortization Accumulated depletion Accumulated depreciation-Machinery Amortization expense Building Note: Enter det Date Dobit Credit Dec 31 Journal entry worksheet 1 2 3 Cash Record the Depletion expense Depreciation expense Note: Enter det Gain on sale of machinery Goodwill Date Debit Credit Dec 31 Journal entry worksheet 1 2 3 Impairment loss Record the Land Land improvements Leasehold improvements Note: Enter det Loss from fire Date Debit Credit Dec 31 Journal entry worksheet 3 points
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