Question

1.2 pts Question 3 Superior Vacations boughta new apartment building on December 16, 2017. The building was rented out to fam
0 0
Add a comment Improve this question Transcribed image text
Answer #1

Rented property depreciation is calculated over 27.5 years for residential property. So depreciation for year 2018 = (727326 + 10728) / 27.5 * 210 / 365 = 15441.23 dollars

The building was rented out on 5th June 2018. So the building was in use for 210 days in 2018.

Add a comment
Know the answer?
Add Answer to:
1.2 pts Question 3 Superior Vacations boughta new apartment building on December 16, 2017. The building...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions
  • Question 4 1.2 pts BizTech bought a new building for its headquarters in the year 2015....

    Question 4 1.2 pts BizTech bought a new building for its headquarters in the year 2015. The building cost 773,028 dollars and the company spent an additional 86,683 dollars renovating the space before it was put into service. The building has been in use since October 21st, 2015. BizTech forecasted that in 2040 the building would have a net salvage value of $1,000,000. Estimate the Remaining Book Value of the building in 2029 if BizTech decides to sell the building...

  • Question 2 1.2 pts The City of Houghton bought new municipal sewage equipment in the year...

    Question 2 1.2 pts The City of Houghton bought new municipal sewage equipment in the year 2010. The equipment cost 166,421 dollars and the city spent an additional 15,267 dollars for installation. The sewage equipment was put into service on June 1st, 2010 and the city removed the equipment from service on September 12, 2022. Using the US Straight Line Depreciation Schedule, estimate the total value of depreciation recorded in the accounting books for the years 2010 through 2022 (i.e....

  • The City of Houghton bought new municipal sewage equipment in the year 2010. The equipment cost 180,532 dollars and...

    The City of Houghton bought new municipal sewage equipment in the year 2010. The equipment cost 180,532 dollars and the city spent an additional 11,133 dollars for installation. The sewage equipment was put into service on June 1st, 2010 and the city removed the equipment from service on September 12, 2022. Using the US Straight Line Depreciation Schedule, estimate the total value of depreciation recorded in the accounting books for the years 2010 through 2022 (i.e. calculate the sum of...

  • Navy, Inc. bought a new vessel in the year 2015. The vessel cost 64,733 dollars with...

    Navy, Inc. bought a new vessel in the year 2015. The vessel cost 64,733 dollars with additional delivery expenses of 16,084 dollars. The vessel was put into service on September 4, 2015 and is depreciated using accelerated depreciation. What is the value of depreciation recorded in the accounting books for the year 2020, assuming the company decided to sell the vessel on June 5, 2020? (note: round your answer to the nearest cent and do not include spaces, currency signs,...

  • Excel Imaging, Inc. bought new office furniture in the year 2012. The purchase price was 68,312...

    Excel Imaging, Inc. bought new office furniture in the year 2012. The purchase price was 68,312 dollars and they also spent 14,147 additional dollars for installation. The furniture was put into use on March 20th, 2012. On May 14th, 2016, Excel Imaging, Inc. sold the office furniture for 36,003 dollars. Use the US accelerated depreciation schedule to calculate the total value of depreciation recorded in Excel Imaging, Inc's accounting books for years 2012 through 2016 (i.e. calculate the sum of...

  • Please provide formulas and answer Question 3 20 pts ROR Inc. bought building for its headquarters...

    Please provide formulas and answer Question 3 20 pts ROR Inc. bought building for its headquarters in the year 2010. The purchase cost was 792969 a new dollars and in addition it had to spend 54671 dollars adapting the space for its services. The building was in use since September 24th, 2010. YTM forecasted that in 2053 the building would have a net salvage value of $5,000,000. Using the US Straight Line Depreciation Schedule, estimate the Net Cash Flow from...

  • McCraney Properties, Inc. bought a new warehouse building in the year 2011. The purchase cost was...

    McCraney Properties, Inc. bought a new warehouse building in the year 2011. The purchase cost was 793,950 dollars and they spent an additional 95,434 dollars 'renovating the space before it could be put into service. The building was put into service on September 10th, 2012. McCraney Properties forecasted that in 2050 the building would have a net salvage value of $5,000,000. Calculate the net cash flow from salvage value after taxes if the company decided to sell the building on...

  • Please provide answer and formulas Question 2 20 pts Company IOU bought new petroleum refining equipment...

    Please provide answer and formulas Question 2 20 pts Company IOU bought new petroleum refining equipment in the year 2000. The purchase cost was 194897 dollars and in addition it had to spend 17418 dollars for installation. The refining equipment has been in use since February 1st, 2000. Yoil forecasted that in 2032 the equipment would have a net salvage value of $10,000. Using the US Straight Line Depreciation Schedule, estimate the value of depreciation recorded in the accounting books...

  • Please provide answer and formulas Question 2 20 pts Company IOU bought new petroleum refining equipment...

    Please provide answer and formulas Question 2 20 pts Company IOU bought new petroleum refining equipment in the year 2000. The purchase cost was 194897 dollars and in addition it had to spend 17418 dollars for installation. The refining equipment has been in use since February 1st, 2000. Yoil forecasted that in 2032 the equipment would have a net salvage value of $10,000. Using the US Straight Line Depreciation Schedule, estimate the value of depreciation recorded in the accounting books...

ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT