Using the information provided in BE13- 11, prepare the journal entries to record the first years depreciation

Question:

Using the information provided in BE13- 11, prepare the journal entries to record the first year’s depreciation and accretion accrual.
In BE13- 11
On January 1, Pollison Energy Group, Inc. acquired an oil processing plant at a total cost of $ 13,560,000, and paid cash. The estimated cost ( in today’s market) to dismantle the plant and restore the property at the end of the plant’s 10- year life is $ 2,100,000. Pollison’s is 5%. Pollison depreciates the asset over its useful life by using the straight- line method with no . Prepare the journal entries required to record the acquisition of the plant asset. Salvage Value
Salvage value is the estimated book value of an asset after depreciation is complete, based on what a company expects to receive in exchange for the asset at the end of its useful life. As such, an asset’s estimated salvage value is an important... Cost Of Capital
Cost of capital refers to the opportunity cost of making a specific investment . Cost of capital (COC) is the rate of return that a firm must earn on its project investments to maintain its market value and attract funds. COC is the required rate of...