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please help thank you! Tuh Hardware Consultants parchased a builing for $584,000 and depreciated it on a straight-line basis over a 40 -year period. The
please help thank you!
Tuh Hardware Consultants parchased a builing for $584,000 and depreciated it on a straight-line basis over a 40 -year period. The estimated residual value is $104,600. After ushig the bulding for 15 yeare. Tuft realized that wear and tear on the building would wear z out bofore 40 yoars and that the estmated residual value should be 590 ood. Starthg with the 16 hy year, Tutt began depreclating the bulding over a revised total lide of 35 years using the nev residual valua Joumalize dopreclation expense on the beulding lor years 15 and 16 (Record debits first, then credits Solect the explanation on the last line of the journal entry lable) Begin by joumalteing the depreciation on the building for yoar 15 Step by Step Solution
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