On January 1, 2019, the Kelley Company ledger showed a building with a cost of $250,000 and
Question:
On January 1, 2019, the Kelley Company ledger showed a building with a cost of $250,000 and related accumulated depreciation of $96,000. The depreciation resulted from using straight-line depreciation with a useful life of 20 years and no residual value. On this date, Kelley determined that the building had a remaining useful life of 16 years and a residual value of $14,000. Required: Determine the depreciation expense for 2019?
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