Advertising Professional dues $ 5,000 800 Professional journals 200 Employee wages 48,000 Insurance on office contents 1,120 Accounting services 2,100 Miscellaneous office expense 500 Utilities and telephone 3,360 Payroll taxes 3,600 Depreciation To be calculated Date Acquired 3/20 3/20 3/20 4/1 6/1 Asset Land Office building Furniture Computer system Artwork Cost $ 300,000 2,500,000 200,000 350,000 150,000 Date Sales Original Acquired Asset Price Cost Accumulated Depreciation as of Beginning of the Year 5/1/07 Office building $940,000 $900,000 $129,825 5/1/07 Land 200,000 100,000 0 7/1/07 Furniture 50,000 239,000 206,998 8/13/09 Furniture 10,000 324,000 222,782 4/12/10 Office equipment 100,000 120,000 67,524 5/13/12 Computers $ 30,000 50,000 10,000