Question
Depreciation Expense must be recorded for the month of December. The building was purchased with cash on February 1,2014 for $150,000 with a remaining useful
Depreciation Expense must be recorded for the month of December. The building was purchased with cash on February 1,2014 for $150,000 with a remaining useful life of 30 years and a salvage value of $6000. The method of depreciation for the buildings is straight line.
The equipment was purchased with cash on February 1,2014 for $60,000 with a remaining useful life of 4 years with a salvage value of $3000. The method of depreciation for the equipment is double-declining balance. Depreciation has been recorded for the building and equipment for months February through November.
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