Your Solution is correct, but it shows wrong might be due to rounding off.
b)
Assets | Original Cost | Est Salvage Value | depreciation base | Estimated Life | Depreciation Expenses |
Building | 120000 | 4000 | 116000 | 30 | 3867 |
machinery | 38000 | 0 | 38000 | 10 | 3800 |
Other Equipment | 20000 | 2000 | 18000 | 6 | 3000 |
Total | 178000 | 172000 | 10667 |
Composite Depreciation Rate= Total depreciation Expenses/Total original Cost
=10667/178000
=0.06%
Composite Life= total depreciation base/ total Depreciation Expenses
=172000/10667
=16.12 Years
c) Journal entry
Depreciation Expenses 10680
Accumulated Depreciation 10680
(178,000*0.06%=10680)
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