Question
16 (5 points) (IA1.5b 5 marks) On April 5, 2019 Musky Industries Ltd. purchased a building for $2,370,000. The building has been segregated into separate
16 (5 points) (IA1.5b 5 marks) On April 5, 2019 Musky Industries Ltd. purchased a building for $2,370,000. The building has been segregated into separate components. The building has been valued at $1,700,000 and is expected to have a useful life of 20 years and a residual value of $300,000. The roof has been valued at $420,000, is expected to be replaced in 7 years and has no residual value. The heating system is valued at $250,000, is expected to be replaced in 8 years. Musky uses straight-line depreciation to the nearest whole month.Musky has a December 31 year end. Required: Record depreciation for 2019. Format BIU GENERAL JOURNAL www
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