Compute straight-line depreciation on the building at the end of one year, assuming an estimated 10-year useful life and a $16,000 estimated residual value. (Do not round intermediate calculations.)What should be the book value of (a) the land and (b) the building at the end of year 2

Missing word "Bridge City Consulting bought a building and the land on which it is located for $120,000 cash. The land is estimated to represent 70 percent of the purchase price. The company paid $10,000 for building renovations before it was ready for use."

Total Cost of Land and Building (100%) = $120,000

Cost of Land (70%) = $84,000

Cost of Building (30%) = $36,000

Cost of Building Renovations = $10,000

Total Cost of Building = $36,000 + $10,000

Total Cost of Building = $46,000

1. Annual Depreciation(Year End Depreciation) = (Cost of Building - Residual Value)/ Number of Year

Annual Depreciation = $46,000 - $16,000 / 10

Annual Depreciation = $30,000 / 10

Annual Depreciation = $3,000

2. Book Value of Land at the end of two years = $84,000

Book Value of Building at the end of two years = $46,000 - ($3,000*2 year) = $46,000 - $6,000 = $40,000

Hence, Book Value of Land and Building at the end of two year is = $84,000 + $40,000 = $124,000

income statement is prepared in order to show the profits and loss of a business. in order to prepare the income statement she should collect all the income and expenses of the product with the cost of production.

answer; /// egg production using the factory technique falls less than with the free range technique;