P 1. Totals: Land: $361,950; Land Improvements: $71,000; Building: $691,800; Furniture and Equipment: $105,400
P 2. 1. Depreciation, Year 3: a. $165,000; b. $132,000; c. $90,000
P 3. Total Depreciation Expense: 20x5: $13,280; 20x6: $18,760; 20x7: $15,728
P 4. a. Gain on Sale of Road Grader: $1,800; b. Loss on Sale of Road Grader: $2,200; c. Gain on Exchange of Road Grader: $1,800; d. Loss on Exchange of Road Grader: $2,200; e. No gain recognized
P 5. Part A. c. Amortization Expense: $492,000; d. Loss on Exclusive License: $1,476,000; Part B. d. Leasehold Amortization Expense: $1,575; e. Leasehold Improvements Amortization Expense: $2,500
P 6. Totals: Land: $852,424; Land Improvements: $333,120; Buildings: $1,667,880; Machinery: $2,525,280; Expense: $36,240
P 7. 1. Depreciation, Year 3: a. $54,250; b. $81,375; c. $53,407
P 8. Total Depreciation Expense: 20x1: $71,820; 20x2: $103,092; 20x3: $84,072