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On March 3 1 , 2 0 2 4 , Susquehanna Insurance purchased an office building for $ 1 1 , 1 0 0 ,
On March Susquehanna Insurance purchased an office building for $ Based on their relative fair values, onethird
of the purchase price was allocated to the land and twothirds to the building. Furniture and fixtures were purchased separately from
office equipment on the same date for $ and $ respectively. The company uses the straightline method to
depreciate its buildings and the doubledecliningbalance method to depreciate all other depreciable assets. The estimated useful
lives and residual values of these assets are as follows:
Required:
Calculate depreciation for the years ended December and
What book values would be reported in the December balance sheet including land
Complete this question by entering your answers in the tabs below.
Calculate depreciation for the years ended December and
Note: Do not round intermediate calculations.
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