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Question 2 (15 marks) A. Mava Corp. purchased a warehouse for $3,040,000 on October 1, 2017. The warehouse has been depreciated using the sum-of-the-years-digits method
Question 2 (15 marks) A. Mava Corp. purchased a warehouse for $3,040,000 on October 1, 2017. The warehouse has been depreciated using the sum-of-the-years-digits method with the estimated usage summarized below: Useful life 20 years Residual value $ 205,000 Required: A1. Calculate the depreciation expense for the first full year of the warehouse's useful life from October 1, 2017, to September 30, 2018. (2 marks) A2. Calculate the depreciation expense for the second full year of the warehouse's useful life from October 1, 2018, to September 30, 2019. (2 marks) A3. Calculate the depreciation expense for the year ended December 31, 2018. (2 marks)
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