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please help my group has 3 different balances ... 11,598,633.. 10,392,000... 10,933,000

The unadjusted pre-closing 12/31/15 account balances for the Mahoney Company are listed below: During your audit, you discover the following five items that have yet to be recorded: No depreciation on the building has been recorded in 2015. Depreciation on the building is based on Double-Declining Balance. It was purchased on 1/1/14 and has an estimated useful life of 40 years. The estimated salvage value is $670,000. Mahoney exchanged a machine for a similar machine on 12/31/15. The original machine cost $3, 705,000 and had a book value of $2, 470,000. The new machine had a fair value of $1, 660,000; Mahoney also received $306,000 in cash. The exchange did not have commercial substance. Mahoney also exchanged its only other machine for a different machine on 12/31/15. The original machine cost $2, 719,000 and had a book value of $1, 958,000. The fair value was $2, 125,000. Mahoney paid cash of $487,000 as well. The exchange had commercial substance Mahoney uses the Balance Sheet approach to adjust Accounts Receivable to Net Realizable Value At 12/31/15. uncollectible receivables are estimated to be 5% of Accounts Receivable Ending Inventory is to be estimated using the Gross Profit Method. The historic Gross Profit percentage is 20%. adjusting/closing journal entry to close Purchases, adjust Inventory, and record CGS. Do not show other closing entries; assume they were made properly. Draft the 2015 Condensed Income Statement and the 12/31/15 Balance Sheet. Use the Cabrera (Textbook Illustration 4-3 in Chapter 4) and the Uptown Cabinet (Textbook Illustrate 3 41 m Chapter 3) format examples in the text. Assume no taxes. Do not include EPS

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