Question
office equipment is 598, building is 85,000, purchase cost is 101,000. June 1: Hudson Bloom invested $157,638.00 cash and computer equipment with a fair market
office equipment is 598, building is 85,000, purchase cost is 101,000. June 1: Hudson Bloom invested $157,638.00 cash and computer equipment with a fair market value of $40,040.00 in his new business, Byte of Accounting. The fixed assets have estimated useful lives as follows:Building - 31.5 yearsComputer Equipment - 5.0 yearsOffice Equipment - 7.0 yearsUse the straight-line method of depreciation.Management has decided that assets purchased during a month are treated as if purchased on the first day of the month.The building's scrap value is $7,500. The office equipment has a scrap value of $300.The computer equipment has no scrap value.I just need the building and computer answers. round the answer two decimal places
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