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cial assessment information Concord Corp acquired a property on September 15 2017 for 9 240 000 paving $3 20 in transfer taxes and 9 82

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cial assessment information Concord Corp acquired a property on September 15 2017 for 9 240 000 paving $3 20 in transfer taxes and 9 82 20 real estate fee based corne however asset . these it for in years only as it 5 value was erty's value was related to the building and 1090 to years only as it is not expected to suit the company 's purposes after that The es financial statements in accordance with IFRS . Depreciation expense should be calculated to the nearest half month the land . It is estimated that the building , with proper maintenance , will last ould be able to sell the property for $175 will last for 20 years at which time it wil be com down and have zero salvage val 000 at that time , with $98 600 of this amount being for not being for the land . Concord or Assuming a December 31 year ar end , identify the building's cost Cost of the building Assuming a December 31 year end identify the building's depreciable amount Depreciable amount Assuming a December 31 year end identify the building's useful life Building's useful life Assuming a December 31 year end identify the depreciation expense for 2017 , assuming the e straight - line method ( Do not rou and intermediate calculations and round answer to O decimal places , e .g . 5 , 275 . ) Depreciation expense for 2017 Assuming a Decem ber 31 year end , identify the depreciation expense for 2018 , assuming the . double - declining - balance method . ( Do not round int intermediate calculation and round answer to O decimal places , e . g . 5 , 275 . ) Depreciation expense for 2018Pina Colada Corporation purchased a new plant asset on April 1 2017 at a cost of $850 ,090 . It was estimated to have a useful life of 20 yea is and a residual value of $370 , 100 , a physical life of 30 years , and a salvage val da salvage value of $0 Pina Colada's accounting period calendar year Pina Colada prepares financial statements in accordance with IFRS Calculate the depreciation for this asset for 20 2017 and 2018 using the straight - line method . ( Round answers to o decimal places , e . g . 5 , 275 . ) Depreciation Calculate the depreciation for this asset for 2017 and 2018 using the double - declining - balance method . ( Round an sivers to a decimal places , e . . 5 , 275 . ) Depreciation Calculate the depreciation for this asset for 2017 and 2018 using the straight - line method and assuming pina Co lada prepares financial statement s in accordance with ASPE . ( Do not round intermediate calculations and round answers to a decimal places . 5 , 275.) DepreciationIlion . The estimated useful life each of the aircraft's 2 engines is 10 years , with a residual value of 51 22 million . The . estimated useful life of the aircraft's body is 10 years , with a residual value of s6 . 10 million . The entire aircraft 's useful life is limited to the life of the aircraft sbody Prepare the journal entries required on October 1 2017 , and December 31 2017 if ocean Airways prepares financial statements in a ( cordance with IFRS and uses straight - line depreciation . ( 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 . for the amounts . ) Account Titles and Explanation Debit Credit October 1 2017 December 31 2017Novak Corp ased a machine efees and a legal fee of 5325 related to the machine . In addition , Novak are fras ier is aimed at and shit in the mission in on rein forcing paid $560 in shipping charges charges for delivery , and paid $450 to a local contractor to build and wire a platform for the machine on the plant floor . The machine has an estimated useful life of 10 years , a total expected depreciation uses straight - line depreci Calculate the 2017 depreciation tion expense if Novak prepa ancial res financial statements in accordance with HERS . ( Do not round intermediate calculation and round ansiver to O decimal places , e. g. 5 , 275. ) Depreciation expense Calculate the 2017 depreciation expense if Novak prepares financial statements in accordance with ASPE ( Do not row and intermediate calculation and round answer to a decimal places , e. g . 5 , 275 . ) Depreciation expense

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