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  3. at december 31, 2017, cord company's plant asset a

At December 31, 2017, Cord Company's plant asset and accumulated depreciation and amortization accounts had...

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Accounting

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At December 31, 2017, Cord Company's plant asset and accumulated depreciation and amortization accounts had balances as follows Accumulated Depreciation Category Land Buildings Machinery and equipment Automobiles and trucks Leasehold improvements Land improvements Plant Asset and Amortization $ 181,800 1,800,0oe 1,425,800 178,000 228,800 334,900 323,500 106, 325 114,000 Depreciation methods and useful lives: Buildings-150% declining balance: 25 years Machinery and equipment- Straight line; 10 years Automobiles and trucks-150% declining balance: 5 years, all acquired after 2014 Leasehold improvements-Straight line Land improvements-Straight line Depreciation is computed to the nearest month and residual values are immaterial. Transactions during 2018 and other information a. On January 6, 2018, a plant facility consisting of land and building was acquired from King Corp. in exchange for 31,000 shares of Cord's common stock. On this date, Cord's stock had a fair value of $50 a share. Current assessed values of land and building for property tax purposes are $202,500 and $607,500, respectively. b. On March 25, 2018, new parking lots, streets, and sidewalks at the acquired plant facility were completed at a total cost of

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