Question

SAM Rustin Freeman & 11/5/19 11:38 AM Sign Out ACCT 2101 Principles of Accounting YTH 11:00-12:15 Homework: Chapter 10 Homework b Accountin Score of 1 pt 3 of complete XE10-21 (similar to) ments HW Score: 28.57%, 2 of 7 pts Wenu Question Help O 06 Discount Hardware Consultants purchased building for $33,000 and deprecated it on a streghe basis over 35 yes pod. The stimated residual value is $98,000 Alor using the building for 15 years, Discounte d al wear and wear on the building was wear it out before 15 years and that the estimatedrosida value should be $2.000. Starting with the winnt began depreciating the building over d e 20 years using the w a ke Journal depreciation expense on the building for years 15 Record bis first the credits Select the plantion th i ne of the journal arty ) latest Begin by jumaling the depreciation on the building for year 15 Date Accounts and Explanation Debat Incorrecto Choose from any or enter any number in the music and then chok Check Answer 1g Clear All Check Answer

Answer 1

Date	Account Tittle	Debit	Credit
Year-15	Depreciation Expense	$21,000.00
	Accumulated Depreciation- Building		$21,000.00
Year-16	Depreciation Expense (518000-82000)/5	$87,200.00
	Accumulated Depreciation- Building		$87,200.00

Working Note

Depreciation Expense= ( Original Cost - Salvage Value)/ No. of Life year of Machine

(833000-98000)/35= $21000

Accumulated Depreciation at the end of Year-15= (21000X15)= $315000

Revised Cost on year -15 end of year (833000-315000)= $518000

Balance useful life= 20 year-15 year= 5 Year

Revised Depreciation = (518000-82000)/5= 87200