Part. 1

A company purchased property for $150,000. The property included a building, equipment and land. The building was appraised at $82,000, the land at $55,000, and the equipment at $28,000 for a total appraised value of $165,000. What is the amount of cost to be allocated to the building in the accounting records?(Round your intermediate calculations to 3 decimal places.)

A: $0 B: $74,550 C: $150,000 D: $82,000

Part 2.

A company buys equipment for $122,000, expects to use it for ten years, and then sell it for $12,200. Using the straight-line method, the company should report annual depreciation for the equipment of:

A; $25,010. B: $12,200. C: $21,960. D: $10,980.

Part 3

The Doodad Company purchases a machine for $400,000. The machine has an estimated residual value of $20,000. The company expects the machine to produce two million units. The machine is used to make 400,000 units during the current period.

I :

If the units-of-production method is used, the depreciation rate is:

A; $0.95 per unit. B: $0.19 per unit. C: $0.05 per unit. D: $1.00 per unit.

II :

If the units-of-production method is used, the depreciation expense for this period is:

A; $76,000. B: $380,000. C: $400,000. D: $80,000.

Part 4

A company buys a piece of equipment for $60,000. The equipment has a useful life of three years. No residual value is expected at the end of the useful life. Using the double-declining-balance method, what is the company's depreciation expense in the first year of the equipments useful life? (Do not round intermediate calculations)

A; $15,000. B: $20,000. C: $40,000. D: $30,000.