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Bridgeport Corp. acquired a property on September 1 5 , 2 0 2 3 , for $ 3 0 0 , 0 0 0 ,
Bridgeport Corp. acquired a property on September for $ paying $ in transfer taxes and a $ real estate fee. Based on the provincial assessment information, of the property's value was related to the building and to the land. It is estimated that the building, with proper maintenance, will last for years, at which time it will be torn down and have zero salvage value. Bridgeport, however, expects to use it for years only, as it is not expected to suit the company's purposes after that. The company should be able to sell the property for $ at that time, with $ of this amount being for the land. Bridgeport prepares financial statements in accordance with IFRS. Depreciation expense should be calculated to the nearest half month. a Assuming a December year end, identify the building's cost. Cost of the building $ eTextbook and Media Attempts: of used b Assuming a December year end, identify the building's depreciable amount. Depreciable amount $ eTextbook and Media Attempts: of used c Assuming a December year end, identify the building's useful life.Assuming a December year end, identify the depreciation expense for assuming the straightline method. Do not round intermediate calculations and round answer to decimal places, eg Depreciation expense for $ eTextbook and Media Attempts: of used e Assuming a December year end, identify the depreciation expense for assuming the doubledecliningbal ance method. Do not round intermediate calculation and round answer to decimal places, eg Depreciation expense for $ eTextbook and Media Attempts: of used f Assuming a December year end, identify the building's carrying amount at December assuming the double decliningbalance method. Do not round intermediate calculation and round answer to decimal places, eg Building's carrying amount $ eTextbook and Media Attempts: of used g Assuming a December year end, identify the depreciation expense for assuming the straightline method and assuming Bridgeport prepares financial statements in accordance with ASPE. Do not round intermediate calculation and round answer to decimal places, eg Depreciation expense
Bridgeport Corp. acquired a property on September for $ paying $ in transfer taxes and a $ real estate
fee. Based on the provincial assessment information, of the property's value was related to the building and to the land. It is
estimated that the building, with proper maintenance, will last for years, at which time it will be torn down and have zero salvage
value. Bridgeport, however, expects to use it for years only, as it is not expected to suit the company's purposes after that. The
company should be able to sell the property for $ at that time, with $ of this amount being for the land. Bridgeport
prepares financial statements in accordance with IFRS.
Depreciation expense should be calculated to the nearest half month.
a
Assuming a December year end, identify the building's cost.
Cost of the building
$
eTextbook and Media
Attempts: of used
b
Assuming a December year end, identify the building's depreciable amount.
Depreciable amount $
eTextbook and Media
Attempts: of used
c
Assuming a December year end, identify the building's useful life.Assuming a December year end, identify the depreciation expense for assuming the straightline method. Do not round
intermediate calculations and round answer to decimal places, eg
Depreciation expense for $
eTextbook and Media
Attempts: of used
e
Assuming a December year end, identify the depreciation expense for assuming the doubledecliningbal ance method.
Do not round intermediate calculation and round answer to decimal places, eg
Depreciation expense for $
eTextbook and Media
Attempts: of used
f
Assuming a December year end, identify the building's carrying amount at December assuming the double
decliningbalance method. Do not round intermediate calculation and round answer to decimal places, eg
Building's carrying amount $
eTextbook and Media
Attempts: of used
g
Assuming a December year end, identify the depreciation expense for assuming the straightline method and assuming
Bridgeport prepares financial statements in accordance with ASPE. Do not round intermediate calculation and round answer to
decimal places, eg
Depreciation expense
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