Early-July 2021: A significant renovation of the building was completed at a cost of $30,000. The renovation is expected to provide the building with a useful life of 25 years. This involved the scrapping of an old kitchen with carrying value of $4,000.what is the entry for building depreciation and show working of calculation.

FINANCIAL ACCOUNTING
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Chapter1: Financial Statements And Business Decisions
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Early-July 2021: A significant renovation of the building was completed at a cost of
$30,000. The renovation is expected to provide the building with a useful life of 25
years. This involved the scrapping of an old kitchen with carrying value of $4,000.what is the entry for building depreciation and show working of calculation.

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Section 179 Deduction and Modified Accelerated Cost Recovery System (MACRS) Depreciation
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