1.A building acquired at the beginning of the year at a cost of $95,200 has an estimated residual value of $4,800 and an estimated useful life of four years. Determine the following. (a) The double-declining-balance rate % (b) The double-declining-balance deank. Cash 125,700 Accumulated Depreciation-Equipment 54,100 Loss on Sale of Equipment 6,500 6,500 Equipment 186,300preciation for the first year

2.

Revision of Depreciation

Equipment with a cost of $628,500 has an estimated residual value of $72,300, has an estimated useful life of 27 years, and is depreciated by the straight-line method.

a. Determine the amount of the annual depreciation.

b. Determine the book value after 12 full years of use.

c. Assuming that at the start of the year 13 the remaining life is estimated to be 22 years and the residual value is estimated to be $71,100, determine the depreciation expense for each of the remaining 22 years.

3. Assuming that the equipment was sold on January 3 of Year 4 for $125,700, journalize the entry to record the sale. If an amount box does not require an entry, leave it blank