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The Thompson Corporation, a manufacturer of steel products, began operations on October 1, 2016. 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 $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1 (Use approprlate factor(s) from the tables provlded.) 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 $862,500 for the land and building together. At the time of acquisition, the land had a fair value of $114,000 and the building had a fair value of $836,000 c. Land B was acquired on October 2, 2016, In exchange for 3,500 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 $30 per share. During October 2016, Thompson paid d. Construction of Building B on the newly acquired land began on October 1, 2017. By September 30, 2018, Thompson had paid e. Certain equipment was donated to the corporation by the city. An Independent appraisal of the equipment when donated placed f. Machine A's total cost of $114,000 Includes Installation charges of $600 and normal repairs and malntenance of $13,000. Residual g. On October 1, 2017, Machine B was acquired with a down payment of $4,500 and the remaining payments to be made in 10 annual $10,900 to demolish an existing building on this land so it could construct a new building $260,000 of the estimated total construction costs of $350,000. Estimated completion and occupancy are July 2019 the falr value at $18,000 and the residual value at $2,500. value is estimated at $6,500. Machine A was sold on February 1, 2018 installments of $4,500 each beginning October 1, 2018. The prevailing interest rate was 7%. Required: Supply the correct amount for each answer box on the schedule. (Round your final answers to nearest whole dollar.) THOMPSON CORPORATION Fixed Asset and Depreciation Schedule For Fiscal Years Ended September 30, 2017, and September 30, 2018 Acquisition Date Depreciation Method Estimated Life in Years Depreciation for Year Ended 9/30 Assets Cost Residual 2017 2018 103,500 Land A BuildingA Land B BuildingEB Donated Equipment 10/2/16 Machine A Machine B 10/1/16 10/1/16 10/2/16 NIA 759,000 $63,000 NIA NIA SL NIA SL 2.500| 150% Declining balance 6,500 Sum-of-the years'-digits SL NIA NIA NIA 14,500 $14,500 NIA 185,900 NIA NIA Under construction 260,000 to date 30 10/2/16

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