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help with 2022 furniture 4 On March 31, 2021. Susquehanna Insurance purchased an office building for $13,200,000. Based on their relative fair values, one-third of
help with 2022 furniture
4 On March 31, 2021. Susquehanna Insurance purchased an office building for $13,200,000. Based on their relative fair values, one-third of the purchase price was allocated to the land and two-thirds to the building Furniture and fixtures were purchased separately from office equipment on the same date for $1,400,000 and $900.000, respectively. The company uses the straight-line method to depreciate its buildings and the double-declining balance method to depreciate all other depreciable assets. The estimated useful lives and residual values of these assets are as follows: Service Life 25 eBook Building Furniture and fixtures office equipment Residual Value 5% of cost 5% of cost $50,000 10 5 Print Required: Calculate depreciation for 2021 and 2022 (Do not round Intermediate calculations.) References $ Building Furniture and fixtures Office equipment Depreciation 2021 2022 250,000 5 334,400 210.000 S 28,000 270.000 $ 252.000 5 SStep by Step Solution
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