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Hw11 6 Saved The Thompson Corporation, a manufacturer of steel products, began operations on October 1, 2016. The accounting department of Thompson has started the fixed-asset and depreciation schedule pres ented below. You have been asked to assist in completing this dition to ascertaining that the data already on the schedule are correct you have obtained the following information from the company's records and personnel (FV of $1. PV of S1 EVA of S1. PVA of S1. FVAD of S1 and PVAD of $) (Use appropriate factor(s) from the tables provided.): 9.1 points a. Depreciation is computed from the first of the month of acquisition to the first of the month of disposition. d Building A were acquired from a predecessor corporation. Thompson paid $722.500 for the land and building together At the time of acquisition, the land had a fair value of $81,000 and the building had a fair value of $729,000. c. Land B was acquired on October 2, 2016, in exchange for 2.100 newly issued shares of Thompson's common stock. At the date of acquisition, the stock had a par value of $5 per share and a fair value of $16 per share. During October 2016, Thompson paid $9.500 to demolish an existing building on this land so it could construct a new building d. Construction of Building B on the newly acquired land began on October 1, 2017, By September 30 2018. Thompson had paid Print $120,000 of the estimated total construction costs of $210,000. Estimated completion and occupancy are July 2019 e. Certain equipment was donated to the corporation by the city. An independent appraisal of the equipment when donated placed the fair value at $12,400 and the residual value at $1,100. f. Machine A's total cost of $101,000 includes installation charges of $460 and normal repairs and maintenance of $10.100. Residual References value is estimated at $4,500. Machine A was sold on February 1, 2018. g. On October 1, 2017, Machine B was acquired with a down payment of $3,100 and the remaining payments to be made in 10 annual installments of $3100 each beginning October 1, 2018. The prevailing interest rate was 9%, Required: Supply the correct amount for each answer box on the schedule. (Round your final answers to nearest whole dollar.) Fixed Asset and Depreciation Schedule For Fiscal Years Ended September 30, 2017, and September 30, 2018 Aequisition Date Depreciation Method Estimated in Years Depreciation for Year Ended V30 Cost Residual Land A Bulding A Land B $47,650 101/16 0/2/16 NIA

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