Homework Answers
To record the installation of new roof :-
| Building | 339,000 | |
| Cash | 339,000 |
To record the revision in estimated life of building :-
| No entry | 00 | 00 |
| No entry | 00 | 00 |
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Novak Company connstructed a building at a cost of S2,486,000 and occupied it beginning in Januar...
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Novak Company constructed a building at a cost of $2,750,000 and
occupied it beginning in January 2001. It was estimated at that
time that its life would be 40 years, with no salvage value.
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and it was estimated then that the building would have a useful
life of 25 years from that date. The cost of the old roof was
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was estimated that the remaining life of the building would be,...
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occupied it beginning in January 2001. It was estimated at that
time that its life would be 40 years, with no salvage value.
In January 2021, a new roof was installed at a cost of $375,000,
and it was estimated then that the building would have a useful
life of 25 years from that date. The cost of the old roof was
$200,000.
What amount of depreciation should be...
*Exercise 11-12 In 1990, Riverbed Company completed the construction of a building at a cost of $2,040,000 and first occupied it in January 1991. It was estimated that the building will have a useful life of 40 years and a salvage value of $61,200 at the end of that time Early in 2001, an addition to the building was constructed at a cost of $510,000. At that time, it was estimated that the remaining life of the building would be,...
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Exercise 11-12 In 1990, Whispering Company
completed the construction of a building at a cost of $2,480,000
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building will have a useful life of 40 years and a salvage value of
$74,400 at the end of that time. Early in 2001, an addition to the
building was constructed at a cost of $620,000. At that time, it
was estimated that the remaining life of the building would be,...
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