Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Is it possible to calculate the depreciation expense rate without the given lifespan of an item? For example: Parent company bought a building from Subsidiary
Is it possible to calculate the depreciation expense rate without the given lifespan of an item?
For example: Parent company bought a building from Subsidiary for 8,000,000. Original cost of the building was 10,000,000 with accumulated depreciation of 8,500,000. The building has a REMAINING life of 20 years, straight line depreciation is used.
I'm trying to figure out the original depreciation rate that the subsidiary company would use if they still owned the building.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started