At December 31, 2017, Flounder Corporation reported thefollowing plant assets.

Land				$ 5,883,000
Buildings		$26,560,000
Less: Accumulated depreciation—buildings		23,384,925		3,175,075
Equipment		78,440,000
Less: Accumulated depreciation—equipment		9,805,000		68,635,000
Total plant assets				$77,693,075

During 2018, the following selected cash transactions occurred.

Apr.	1		Purchased land for $4,314,200.
May	1		Sold equipment that cost $1,176,600 when purchased on January1, 2011. The equipment was sold for $333,370.
June	1		Sold land for $3,137,600. The land cost $1,961,000.
July	1		Purchased equipment for $2,157,100.
Dec.	31		Retired equipment that cost $1,372,700 when purchased onDecember 31, 2008. No salvage value was received.

Journalize the transactions. Flounder uses straight-linedepreciation for buildings and equipment. The buildings areestimated to have a 40-year useful life and no salvage value; theequipment is estimated to have a 10-year useful life and no salvagevalue. Update depreciation on assets disposed of at the time ofsale or retirement. (Record entries in the orderdisplayed in the problem statement. Credit account titles areautomatically indented when amount is entered. Do not indentmanually. If no entry is required, select "No Entry" for theaccount titles and enter 0 for the amounts.)

Date	Account Titles and Explanation	Debit	Credit
April 1May1June 1July 1Dec. 31
April 1May1June 1July 1Dec. 31
	(To record depreciation on equipment sold)
April 1May1June 1July 1Dec. 31
April 1May1June 1July 1Dec. 31
April 1May1June 1July 1Dec. 31
	(To record depreciation on equipment retired)

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List of Accounts

Record adjusting entries for depreciation for 2018.(Credit account titles are automatically indented whenamount is entered. Do not indent manually. If no entry is required,select "No Entry" for the account titles and enter 0 for theamounts.)

Date	Account Titles and Explanation	Debit	Credit
Dec. 31
	(To record depreciation on buildings.)
Dec. 31
	(To record depreciation on equipment.)

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List of Accounts

Prepare the plant assets section of Flounder’s balance sheet atDecember 31, 2018. (Hint: You may wish to set up Taccounts, post beginning balances, and then post 2018transactions.) (List Plant Assets in order of Land,Building and Equipment.)

FLOUNDER CORPORATION Partial Balance Sheet                                                                   For the YearEnded December 31, 2018For the Month Ended December 31,2018December 31, 2018
CurrentAssetsCurrent LiabilitiesIntangible AssetsLong-termInvestmentsLong-term LiabilitiesPlant AssetsStockholders'EquityTotal AssetsTotal Current AssetsTotal CurrentLiabilitiesTotal Intangible AssetsTotal LiabilitiesTotalLiabilities and Stockholders' EquityTotal Long-termInvestmentsTotal Long-term LiabilitiesTotal Plant AssetsTotalStockholders' Equity
					$
			$
AddLess:
AddLess:
CurrentAssetsCurrent LiabilitiesIntangible AssetsLong-termInvestmentsLong-term LiabilitiesPlant AssetsStockholders'EquityTotal AssetsTotal Current AssetsTotal CurrentLiabilitiesTotal Intangible AssetsTotal LiabilitiesTotalLiabilities and Stockholders' EquityTotal Long-termInvestmentsTotal Long-term LiabilitiesTotal Plant AssetsTotalStockholders' Equity					$

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List of Accounts