Perie Enterprises accounting year is January 1 to December 31. On January 1, 2021, they purchased a depreciable asset for $22,000. The asset will be depreciated using the straight-line method over its four-year useful life. Assuming the asset's salvage value is $2,000, what will be the amount of accumulated depreciation on this asset on December 31, 2023 after depreciation expense is recorded?

Group of answer choices

$20,000

$15,000

$16,500

$5,000

$22,000

Question 2

A company paid $155,000 for a property. The property included land appraised at $87,500, land improvements appraised at $35,000, and a building appraised at $52,500. What should be the allocation of this property's costs in the company's accounting records?

Group of answer choices

Land $75,000; Land Improvements, $30,800; Building, $46,200

Land $77,500; Land Improvements; $31,000; Building; $46,500

Land $82,750; Land Improvements, $33,100; Building, $49,650

Land $80,250; Land Improvements, $32,100; Building, $48,150