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Answer is complete but not entirely correct. THOMPSON CORPORATION Fixed Astand Depreciation Schedule For Fiscal Year End September 30, 2020, and September 30, 2001 Acquisition Date Com Rosa Depreciation Methel Estimated Lilin Years Depreciation for Year End 30 2021 NIA 2020 NIA 13 300 NA NIA 13.300 S NA ILondA. Building A Land B Building 8 Donated Equipment Equipment Equipment B 10/1/2019 10/1/2019 10/2/2019 Under construction 10/2/2019 10/2/2019 10/1/2020 5 89.100 NA 653 400 $ 41600 51 100 NA 140,000 to date 13,200 1 300 105.180 5700 24 800 not applicable Straight-line not applicable Straight-line 2009 Declining balance Sum-of-the years -digits Straight line 465 NA 30 10 2610 18.087 10 15 2.300 5.4263 1,653 . Corporation, a manufacturer of steel products, began operations on October 1, 2019. The accounting department of started the fixed-asset and depreciation schedule presented 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 any's records and personnet (EV of $1. PV of $1. EVA of $1. PVA of S1, EVAD of S1 and PVAD of 8.1 (Use tor(s) from the tables provided.) is computed from the first of the month of acquisition to the first of the month of disposition Building A were acquired from a predecessor corporation. Thompson paid $742,500 for the land and building together. of acquisition, the land had a fair value of $99.600 and the building had a fair value of $730,400 acquired on October 2, 2019, in exchange for 2.300 newly issued shares of Thompson's common stock. At the date of he stock had a par value of $5 per share and a fair value of $18 per share. During October 2019. Thompson paid molish an existing building on this land so it could construct a new building of Bullding B on the newly acquired land began on October 1, 2020. By September 30, 2021. Thompson had paid the estimated total construction costs of $230,000. Estimated completion and occupancy are July 2022 pment was donated to the corporation by the city. An independent appraisal of the equipment when donated placed at $13.200 and the residual value at $1.300. is total cost of $115,000 includes installation charges of S480 and normal repairs and maintenance of $10,300. Residunt nated at $5,700. Equipment A was sold on February 1, 2021. 1, 2020, Equipment B was acquired with a down payment of $3,300 and the remaining payments to be made in 10 Iments of $3,300 each beginning October 1, 2021. The prevailing interest rate was 7%. The Thompson Corporation, a manufacturer of steel products, began operations on October 1 2019. The accounting department of Thompson has started the fixed-asset and depreciation schedule presented below. You have been asked to assist in completing this schedule In addition 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 S1, PV of S1. EVA of S1. PVA of S1. EVAD of $1 and PVAD of $1] (Use appropriate factor(s) from the tables provided.) a Depreciation is computed from the first of the month of acquisition to the first of the month of disposition. b. Land A and Building A were acquired from a predecessor corporation. Thompson paid $742.500 for the land and building together. ** the time of acquisition, the land had a fair value of $99,600 and the building had a fair value of $730,400 B was acquired on October 2, 2019, in exchange for 2,300 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 $18 per share During October 2019, Thompson paid $9700 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, 2020 By September 30, 2021, Thompson had paid $140,000 of the estimated total construction costs of $230,000. Estimated completion and occupancy are July 2022 e Certain equipment was donated to the corporation by the city. An independent appraisal of the equipment when donated placed the fair value at S13,200 and the residual value at $1,300 1. Equipment A's total cost of $115,000 includes installation charges of $480 and normal repairs and maintenance of $10.300. Residual value is estimated at $5,700. Equipment A was sold on February 1, 2021 g. On October 1, 2020, Equipment B was acquired with a down payment of $3,300 and the remaining payments to be made in 10 annual installments of $3,300 each beginning October 1, 2021. The prevailing interest rate was 7%. Required: Supply the correct amount for each answer box on the schedule (Round your intermediate calculations and final answers to the nearest whole dollar.) Check my work THOMPSON CORPORATION Fixed Asset and Depreciation Schedule For Fiscal Years Ended September 30, 2020. and September 30, 2021 Asses Acquisition Date Cost Residual Depreciation Method Estimated Lite In Years Depreciation for Year Ewled W10 2021 NIA NA $ NIA 41.500 NIA 2020 NIA 5 13,300 NA NA 10/1/2019 10/1/2019 10/2/2019 Under construction 10/2/2019 10/2/2019 10/1/2020 Building A Land Building B Donated Equipment Equipment A Equipment B 140,000 to date not applicable Straight-line not applicable Straight-line 200% Declining balance Sum of the years-digits Straight line NIA 30 10 1.300 5,700

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