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Question 9 of 13 View Policies Show Attempt History Current Attempt in Progress In 1991, Bonita Limited completed the construction of a building at a cost of $2.42 million; it occupied the building in January 1992. It was estimated that the building would have a useful life of 40 years and a residual value of $380,000. Early in 2002, an addition to the building was constructed at a cost of $1,230,000. At that time, no changes were expected in its useful life, but the residual value with the addition was estimated to increase by $150,000. The addition would not be of economic use to the company beyond the life of the original building. In 2020, as a result of a thorough review of its depreciation policies, company management determined that the building's original useful life should have been estimated at 30 years. The neighbourhood where the building is has been going through a renewal, with older buildings being torn down and new ones being built. Because of this, it is now expected that the company's building and addition are unlikely to have any residual value at the end of the 30-year period. Bonita Limited follows IFRS for its financial statements. Your answer is correct. Using the straight-line method, calculate the annual depreciation that was charged from 1992 through 2001. Annual depreciation, 1992 through 2001 B 0.4/1 E $ 51000 /year NWP Assessment Player Ul Appli x WileyPLUS 10, 11 and 12 viley.com/was/ui/v2/assessment-player/index.html?launchld-f90f2f95-dae0-422e-82ac-8099b784d214#/question/8 Admission Portal of... Course Home Question 9 of 13 Home - Netflix Your answer is incorrect. Annual depreciation, 2002 through 2019 $ eTextbook and Media X Calculate the annual depreciation that was charged from 2002 through 2019. List of Accounts she would never know - Google x I /year 2.42 million in numbers 0.4/1 E *** 10, 11 and 12 Question 9 of 13 Your answer is incorrect. Calculate the annual depreciation to be charged beginning with 2020. Annual depreciation, beginning with 2020 eTextbook and Media List of Accounts * Your answer is incorrect. Repeat parts (a) through (d) assuming Bonit physical 0.4/1 Question 9 of 13 Annual depreciation, 1992 through 2001 Repeat parts (a) through (d) assuming Bonita Limited prepares its financial statements using ASPE. The original estimate of the physical life of the building was 44 years, with a salvage value of $132,000. (Ignore the addition in early 2002.) In 2020, the estimated useful life and physical life were both revised to be 30 years, with no residual value/salvage value for the asset at the end of the 30-year period. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Round answers to O decimal places, e.g. 5,275.) Annual depreciation, 2002 through 2019 Account Titles and Explanation Annual depreciation $ $ LA $ Debit /year /year 0.4/1 Credit E