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quickkkk plzzzz On March 1, 2019, ABC Company purchased land for an office site by paying 540,000 cash. ABC began construction on the office building
quickkkk plzzzz
On March 1, 2019, ABC Company purchased land for an office site by paying 540,000 cash. ABC began construction on the office building on March 1. The following expenditures were incurred for construction: Date Expenditures March 1, 2019 360,000 April 1, 2019 504,000 May 1, 2019 900,000 June 1, 2019 1,440,000 To help pay for construction, 720,000 was borrowed on March 1, 2019, on a 9%, 3-year note payable. Other than the construction note, the only debt outstanding during 2019 was a 3000,000, 12%, 6-year note payable dated January 1, 2019. The office was completed and ready for occupancy on September 1st, 2019. ABC Cor. estimated the useful life of this building of 5 years with a residual value of 36,800. Compute 2020 depreciation expense for the building assuming that the double-declining balance method is used? Select one: O a. 1,308,960 O b. 457,400 O c. 445,440 O d. 1,134,432 O e. 1,158,144 O f. 182,240
quickkkk plzzzz
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