Cost	Accumulated Depreciation		Book Value
Land	$ 69,000			$ 69,000
Building	544,000	$(195,840	)	348,160
Equipment	131,600	(26,800	)	104,800
Patent	85,000	(34,000	)	51,000

Togo's purchased all the assets at the beginning of 2013 (3 years ago). The building is depreciated over a 10-year service life using the double-declining-balance method and estimating no residual value. The equipment is depreciated over a 9-year useful life using the straight-line method with an estimated residual value of $11,000. The patent is estimated to have a five-year service life with no residual value and is amortized using the straight-line method.

1. Record the depreciation on the building.

2. Record the depreciation on the equipment.

3. Calculate the book value for each of the four long-term assets at December 31, 2015.

TOGO'S SANDWICH SHOP
December 31, 2015
	Book Value
Land
Building
Equipment
Patent