for the hrst ive a Building, straight-line, 30 years, $70,000 residual value. :

Question

for the hrst ive a Building, straight-line, 30 years, $70,000 residual value. : ick the icon to view the T-account balances from Requirement 3 ) BUILDING: Straight-Line Depreciation Schedule Depreciation for the Year Asset Depreciable Depreciation Depreciation Accumulated Book Cost Date Cost Rate ExpenseDepreciation Value 1/1/2018 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 b. Store Fixtures, straight-line. 15 years, no residual value. cick the icon to view the T-account balances from Requirement 3 ) STORE FIXTURES: Straight-Line Depreciation Schedule e om any tist or enter any number in the input fields and tnen cnck Check Answer parts showing oe

Explanation / Answer

Cost Of building 670000 Salvage value 70000 Depreciable cost 600000 Life 30 yrs Annual Depreciation (600,000/30 = $ 20,000 Rate of Dep = 20,000 /600,000 *100= 3.33% Date Assets cost Depreciable cost Dep rate Dep Expense Acc. Dep Book value 1/1/2018 670000 670000 12/31/2018 600000 3.33% 20000 20000 650000 12/31/2019 600000 3.33% 20000 40000 630000 12/31/2020 600000 3.33% 20000 60000 610000 12/31/2021 600000 3.33% 20000 80000 590000 12/31/2022 600000 3.33% 20000 100000 570000 Cost of store fixtures    52500 Salvage value                   0 Deprciable cost 52500 Estimated Life 15yrs Annual dep(52500/15)   = $ 3500 Rate of dep (3500/52500*100) = 6.67% Date Assets cost Depreciable cost Dep rate Dep Expense Acc. Dep Book value 1/1/2018 52500 52500 12/31/2018 52500 6.67% 3500 3500 49000 12/31/2019 52500 6.67% 3500 7000 45500 12/31/2020 52500 6.67% 3500 10500 42000 12/31/2021 52500 6.67% 3500 14000 38500 12/31/2022 52500 6.67% 3500 17500 35000

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