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18 77 nts On March 31, 2021, Susquehanna Insurance purchased an office building for $13,500,000. Based on their relative fair values, one-third of the
18 77 nts On March 31, 2021, Susquehanna Insurance purchased an office building for $13,500,000. Based on their relative fair values, one-third of the purchase price was allocated to the land and two-thirds to the building. Furniture and fixtures were purchased separately from office equipment on the same date for $1,250,000 and $750,000, respectively. The company uses the straight-line method to depreciate its buildings and the double declining-balance method to depreciate all other depreciable assets. The estimated useful lives and residual values of these assets are as follows: Neaidual Value Service Life Building 30 58 of cost Furniture and fixtures 20 P office equipment 10 5% of cost $35,000 References Required: Calculate depreciation for 2021 and 2022. (Do not round intermediate calculations.) Depreciation 2021 2022 Buliding Furniture and futures Office equipment
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