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Information pertaining to Heroine Corporations property, plant and equipment for 2012 is presented below: Account balances at anuary

1, 2012: !and $uildings Accumulated depreciation % $uildings (ac)inery and equipment Accumulated depreciation % (ac)inery and equipment Automoti+e equipment Accumulated depreciation % Automoti+e equipment .epreciation data: $uildings (ac)inery and equipment Automoti+e equipment !ease)old impro+ements Debit " 1#0,000 1,200,000 *00,000 11#,000 Credit "2&',100 2#0,000 ,-,&00 Useful life 2# years 10 years - years 0

Depreciation method 1#0/ declining0balance 1traig)t0line 1um0of0t)e0years0digits 1traig)t0line

2)e sal+age +alues of t)e depreciable assets are immaterial3 .epreciation is computed to t)e nearest mont)3 2ransactions during 2012 and ot)er information are as follows: a3 4n anuary 2, 2012, Heroine purc)ased a new car for "20,000 cas) and trade0in of a 20year0old car wit) a cost of "1,,000 and boo5 +alue of "#,-003 2)e new car )as a cas) price of "2-,0006 t)e mar5et +alue of t)e trade0 in is not 5nown3 4n April 1, 2012, a mac)ine purc)ased for "2',000 on April 1, 2007, was destroyed by fire, Heroine reco+ered "1#,#00 from its insurance company3 4n (ay 1, 2012, costs of "1&,,000 were incurred to impro+e leased office premises3 2)e lease)old impro+ements )a+e a useful life of , years3 2)e related lease terminates on .ecember '1, 201,3 4n uly 1, 2012, mac)inery and equipment were purc)ased at a total in+oice cost of "2,0,0006 additional costs of "#,000 for freig)t and "2#,000 for installation were incurred3 Heroine determined t)at t)e automoti+e equipment comprising t)e "11#,000 balance at anuary 1, 2012, would )a+e been depreciated at a total amount of "1,,000 for t)e year ended .ecember '1, 20123

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$ased on t)e information: 13 2)e ad8usted balance of (ac)inery and 9quipment :at cost; at .ecember '1, 2012 is: " 1,1,7,000

23 2)e ad8usted balance of Automoti+e 9quipment :at cost; at .ecember '1, 2012 is: " 121,000 '3 -3 #3 2)e total ad8usted balance of Accumulated .epreciation of "roperty and 9quipment at .ecember '1, 2012 is: " 77-,',* 2)e total net gain :loss; from disposal of assets at .ecember '1, 2012 is: " 2,&00 <)ic) of t)e following is t)e best e+idence of continuous owners)ip of property= A3 9>amination of t)e deed3 B. 9>amination of rent receipts from lessees of t)e property3 C3 9>amination of t)e title policy3 .3 9>amination of canceled c)ec5 in payment for t)e property3