Straight-Line Depreciation A building acquired at the beginning of the year at a cost of $1,450,000...

Question

Question

Straight-Line Depreciation A building acquired at the beginning of the year at a cost of $1,450,000 has an estimated residual

Answer 1

Answer #1

a)

b)

Life of the Building	10 years
Straight line depreciation rate (100/10)	10%

c)

Depreciable value	$ 1,150,000
Depreciation rate	10%
Annual straight line depreciation ($1,150,000*10%)	$ 115,000

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Answer 2

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