![Exercise 11-7 Depreciation methods; partial periods (L011-2] On March 31, 2018 Susquehanna Insurance purchased an office buil](http://img.homeworklib.com/questions/02d26340-61cd-11ea-9742-ad58ebb8bde2.png?x-oss-process=image/resize,w_560)
Homework Answers
Depreciation method (Partial periods)
| Depreciation | Depreciation | |
| 2018 | 2019 | |
| Building (SLM) | $ 193,800 | $ 258,400 |
| Furnitures & Fixtures (DDM) | $ 195,000 | $ 221,000 |
| Office Equipment (DDM) | $ 240,000 | $ 224,000 |
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Exercise 11-7 Depreciation methods; partial periods (L011-2] On March 31, 2018 Susquehanna Insurance purchased an office...
On March 31, 2018, Susquehanna Insurance purchased an office building for $14,400,000. Based on their relative...
On March 31, 2018, Susquehanna Insurance purchased an office building for $14,400,000. Based on their relative fair values, one-third of the purchase price was allocated to the land and two-thirds to the building Furniture and fixtures were purchased separately from office equipment on the same date for $1,280,000 and $780,000, respectively. The company uses the straight-line method to depreciate its buildings and the double-declining balance method to depreciate all other depreciable assets. The estimated useful lives and residual values of...
Check my work On March 31, 2018, Susquehanna Insurance purchased an office building for $10,800,000. Based...
Check my work On March 31, 2018, Susquehanna Insurance purchased an office building for $10,800,000. Based on their relative fair values, one third of the purchase price was allocated to the land and two-thirds to the building. Furniture and fixtures were purchased separately from office equipment on the same date for $1,320,000 and $820,000, respectively. The company uses the straight-line method to depreciate its buildings and the double declining balance method to depreciate all other depreciable assets. The estimated useful...
On March 31, 2021, Susquehanna Insurance purchased an office building for $13,200,000. Based on their relative...
On March 31, 2021, Susquehanna Insurance purchased an office building for $13,200,000. Based on their relative fair values, one-third of the purchase price was allocated to the land and two-thirds to the building. Furniture and fixtures were purchased separately from office equipment on the same date for $1,400,000 and $900,000, respectively. The company uses the straight-line method to depreciate its buildings and the double-declining-balance method to depreciate all other depreciable assets. The estimated useful lives and residual values of these...
On March 31, 2021, Susquehanna Insurance purchased an office building for $14,700,000. Based on their relative...
On March 31, 2021, Susquehanna Insurance purchased an office building for $14,700,000. Based on their relative fair values, one-third of the purchase price was allocated to the land and two-thirds to the building. Furniture and fixtures were purchased separately from office equipment on the same date for $1,290,000 and $790,000, respectively. The company uses the straight- line method to depreciate its buildings and the double-declining-balance method to depreciate all other depreciable assets. The estimated useful lives and residual values of...
On March 31, 2021, Susquehanna Insurance purchased an office building for $11.400,000. Based on their relative...
On March 31, 2021, Susquehanna Insurance purchased an office building for $11.400,000. Based on their relative fair values, one-third of the purchase price was allocated to the land and two-thirds to the building Furniture and fixtures were purchased separately from office equipment on the same date for $1,340,000 and $840,000, respectively. The company uses the straight-line method to depreciate its buildings and the double-declining-balance method to depreciate all other depreciable assets. The estimated useful lives and residual values of these...
Check my work On March 31, 2021, Susquehanna Insurance purchased an office building for $14,400,000. Based...
Check my work On March 31, 2021, Susquehanna Insurance purchased an office building for $14,400,000. Based on their relative fair values, one-third of the purchase price was allocated to the land and two-thirds to the building. Furniture and fixtures were purchased separately from office equipment on the same date for $1.280,000 and $780,000, respectively. The company uses the straight-line method to depreciate its buildings and the double-declining balance method to depreciate all other depreciable assets. The estimated useful lives and...
PLEASE PUT SOLUTION IN THE SAME FORMAT AS THE IMAGE THANK YOU! On March 31, 2021,...
PLEASE PUT SOLUTION IN THE SAME FORMAT AS THE IMAGE
THANK YOU!
On March 31, 2021, Susquehanna Insurance purchased an office building for $12,300,000. Based on their relative falr values, one-third of the purchase price was allocated to the land and two-thirds to the building. Furniture and fixtures were purchased separately from office equipment on the same date for $1,210,000 and $710,000, respectively. The company uses the straight-line method to depreciate its buildings and the double-declining-balance method to depreciate all...
P 11-6 Depreciation methods, partial-year depreciation; sale of assets .LO11-2 On March 31, 2021, the Herzog...
P 11-6 Depreciation methods, partial-year depreciation; sale of assets .LO11-2 On March 31, 2021, the Herzog Company purchased a factory complete with vehicles and equipment. The allocation of the total purchase price of $1,000,000 to the various types of assets along with estimated useful lives and residual values are as follows: Estimated Residual Estimated Useful Asset Cost Value Life (in years) Land $ 100.000 ΝΙΑ N/A Building 500,000 none Equipment 240.000 10% of cost Vehicles 160,000 $12.000 Total $1,000,000 On...
Exercise 11-4 Depreciation methods; asset addition, partial period (LO11-2, 11-9) Tristen Company purchased a five-story office...
Exercise 11-4 Depreciation methods; asset addition, partial period (LO11-2, 11-9) Tristen Company purchased a five-story office building on January 1, 2016 at a cost of $3,500,000. The building has a residual value of $175 000 and a 20-year life. The straight line depreciation method is used On June 30, 2018. construction of a sixth floor was completed at a cost of $1,610,000 Required: Calculate the depreciation on the building and building addition for 2018 and 2019 assuming that the addition...
On March 31, 2018, the Herzog Company purchased a factory complete with machinery and equipment. The...
On March 31, 2018, the Herzog Company purchased a factory complete with machinery and equipment. The allocation of the total purchase price of $1,020,000 to the various types of assets along with estimated useful lives and residual values are as follows: Estimated Useful Life in Years N/A 25 Asset Land Building Machinery Equipment Total Estimated Residual Value N/A none 12% of cost $14,000 Cost $ 110,000 520,000 220,000 170,000 $1.920.000 On June 29, 2019, machinery included in the March 31,...
On March 31, 2018, Susquehanna Insurance purchased an office building for $14,400,000. Based on their relative fair values, one-third of the purchase price was allocated to the land and two-thirds to the building Furniture and fixtures were purchased separately from office equipment on the same date for $1,280,000 and $780,000, respectively. The company uses the straight-line method to depreciate its buildings and the double-declining balance method to depreciate all other depreciable assets. The estimated useful lives and residual values of...
Check my work On March 31, 2018, Susquehanna Insurance purchased an office building for $10,800,000. Based on their relative fair values, one third of the purchase price was allocated to the land and two-thirds to the building. Furniture and fixtures were purchased separately from office equipment on the same date for $1,320,000 and $820,000, respectively. The company uses the straight-line method to depreciate its buildings and the double declining balance method to depreciate all other depreciable assets. The estimated useful...
On March 31, 2021, Susquehanna Insurance purchased an office building for $14,700,000. Based on their relative fair values, one-third of the purchase price was allocated to the land and two-thirds to the building. Furniture and fixtures were purchased separately from office equipment on the same date for $1,290,000 and $790,000, respectively. The company uses the straight- line method to depreciate its buildings and the double-declining-balance method to depreciate all other depreciable assets. The estimated useful lives and residual values of...
On March 31, 2021, Susquehanna Insurance purchased an office building for $11.400,000. Based on their relative fair values, one-third of the purchase price was allocated to the land and two-thirds to the building Furniture and fixtures were purchased separately from office equipment on the same date for $1,340,000 and $840,000, respectively. The company uses the straight-line method to depreciate its buildings and the double-declining-balance method to depreciate all other depreciable assets. The estimated useful lives and residual values of these...
Check my work On March 31, 2021, Susquehanna Insurance purchased an office building for $14,400,000. Based on their relative fair values, one-third of the purchase price was allocated to the land and two-thirds to the building. Furniture and fixtures were purchased separately from office equipment on the same date for $1.280,000 and $780,000, respectively. The company uses the straight-line method to depreciate its buildings and the double-declining balance method to depreciate all other depreciable assets. The estimated useful lives and...
PLEASE PUT SOLUTION IN THE SAME FORMAT AS THE IMAGE
THANK YOU!
On March 31, 2021, Susquehanna Insurance purchased an office building for $12,300,000. Based on their relative falr values, one-third of the purchase price was allocated to the land and two-thirds to the building. Furniture and fixtures were purchased separately from office equipment on the same date for $1,210,000 and $710,000, respectively. The company uses the straight-line method to depreciate its buildings and the double-declining-balance method to depreciate all...
P 11-6 Depreciation methods, partial-year depreciation; sale of assets .LO11-2 On March 31, 2021, the Herzog Company purchased a factory complete with vehicles and equipment. The allocation of the total purchase price of $1,000,000 to the various types of assets along with estimated useful lives and residual values are as follows: Estimated Residual Estimated Useful Asset Cost Value Life (in years) Land $ 100.000 ΝΙΑ N/A Building 500,000 none Equipment 240.000 10% of cost Vehicles 160,000 $12.000 Total $1,000,000 On...
Exercise 11-4 Depreciation methods; asset addition, partial period (LO11-2, 11-9) Tristen Company purchased a five-story office building on January 1, 2016 at a cost of $3,500,000. The building has a residual value of $175 000 and a 20-year life. The straight line depreciation method is used On June 30, 2018. construction of a sixth floor was completed at a cost of $1,610,000 Required: Calculate the depreciation on the building and building addition for 2018 and 2019 assuming that the addition...
On March 31, 2018, the Herzog Company purchased a factory complete with machinery and equipment. The allocation of the total purchase price of $1,020,000 to the various types of assets along with estimated useful lives and residual values are as follows: Estimated Useful Life in Years N/A 25 Asset Land Building Machinery Equipment Total Estimated Residual Value N/A none 12% of cost $14,000 Cost $ 110,000 520,000 220,000 170,000 $1.920.000 On June 29, 2019, machinery included in the March 31,...
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