Business, 09.11.2019 05:31 koranbutterton
Computing and recording cost and depreciation of assets (straight-line depreciation) shahia company bought a building for $382,000 cash and the land on which it was located for $107,000 cash. the company paid transfer costs of $9,000 ($3,000 for the building and $6,000 for the land). renovation costs on the building before it could be used were $21,000.
required:
1. give the journal entry to record the purchase of the property, including all relevant expenditures. assume that all transactions were for cash and that all purchases occurred at the start of the year.
2. compute straight-line depreciation at the end of one year, assuming an estimated 10-year useful life and a $15,000 estimated residual value.
3. what would be the net book value of the property (land and building) at the end of year 2?
Answers: 3
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Danielle enjoy working as in certified public accountant (cpa) and assisting small business and individuals with managing their financial and taxes . which general area of accounting is her specialty ?
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Business, 22.06.2019 00:30
Find the interest rate for a $4000 deposit accumulating to $5234.58, compounded quarterly for 9 years
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Computing and recording cost and depreciation of assets (straight-line depreciation) shahia company...
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