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linda_us
linda_us, Master's Degree
Category: Multiple Problems
Satisfied Customers: 1402
Experience:  A tutor for Business, Finance, Accounts and other related topics.
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The following information is available for the Company,

Customer Question

The following information is available for the Company, which has an accounting year-end on December 31, 2015.
1. A building was purchased on January 1, 1988, for $3,000,000. It is estimated to have a $30,000 salvage value at the end of its 40-year useful life. The straight-line method of depreciation is being used.
2. Store equipment was purchased on January 1, 2014, for $280,000. It was estimated that the store equipment would have a $28,000 salvage value at the end of its 5-year useful life. The double-declining balance method of depreciation is being used.
JA: The Tutor can help you get an A on your homework or ace your next test. Is there anything else the Tutor should be aware of?
Customer: Instructions
Complete the table shown below by filling in the appropriate amounts.
Assets
Building
Equipment
Accumulated Depreciation
1/1/15
$2,004,750 $
$ 112,000 $
Depreciation Expense for 2015
$
$
Book Value at 12/31/15
Submitted: 4 months ago.
Category: Multiple Problems
Expert:  DanielleCPA replied 4 months ago.

Welcome and tanks for your question!

The formatting of the table got a little out of whack when you copied and pasted it. Could you post a link to the question or an image of it? I want to make sure I am advising you correctly.

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