DEPRECIATION. Lagarde Company has the following data for its depreciable assets:

REQUIRED:
1. Compute depreciation expense for 1 full year’s use of each of the assets.
2. What are the accumulated depreciation and the book value of each asset at December 31, 19x9?

Transcribed Image Text:

EXPECTED ACQUISITION EXPECTED RESIDUAL ASSET COST DATE LIFE VALUE Building $410,000 1/1/x3 40 years $24,000 Machine 61,000 1/1/x8 5 years 6,000 Truck 34,000 1/1/x9 4 years 2,600