In 1990, Sunland Company completed the construction of a building at a cost of $880,000 and first occupied it in January 1991. It was estimated that the building would have a useful life of 40 years and a salvage value of $26,000 at the end of that time. Early in 2001, an addition to the building was constructed at a cost of $220,000. At that time, it was estimated that the remaining life of the building would be, as originally estimated, an additional 30 years, and that the addition would have a life of 30 years and a salvage value of $9,000. In 2019, it is determined that the probable life of the building and addition will extend to the end of 2050, or 20 years beyond the original estimate.   Compute the annual depreciation that would have been charged from 2001 through 2018. Annual depreciation from 2001 through 2018 Compute the annual depreciation to be charged, beginning with 2019. Annual depreciation expense—building

Grove Company acquired a production machine on January 1, 2022, at a cost of $540,000. The machine is expected to have a four- year useful life, with a salvage value of $104,000. The machine is capable of producing 74,000 units of product in its lifetime. Actual production was as follows: 16,280 units in 2022; 23,680 units in 2023; 20,720 units in 2024; 13,320 units in 2025. Following is the comparative balance sheet presentation of the net book value of the production machine at December 31 for each year of the asset's life, using three alternative depreciation methods (items a to c): Required: Identify the depreciation method used for each of the following comparative balance sheet presentations (items a to c). If a declining- balance method is used, be sure to indicate the percentage (150% or 200%). (Hint: Read the balance sheet from right to left to determine how much has been depreciated each year. Remember that December 31, 2022, is the end of the first year.) a. b. C. Production…

Compute the annual depreciation to be charged, beginning with 2022. (Round answer to O decimal places, e.g. 45,892.) Annual depreciation expense-building %24

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.

XYZ Corporation has purchased a new piece of machinery for $75,000. The piece of equipment should last for 8 years and will have a $5,000 salvage value at the end of its useful life. They plan on using the unit-of-production depreciation method. Use the production information below to calculate the estimated depreciation information for each year.  Year Units Produced 1 8,000 2 10,000 3 12,000 4 14,000 5 12,000 6 10,000 7 8,000 8 5,000

This is the last one I need to answer.

In 1990, Sheridan Company completed the construction of a building at a cost of $860,000 and fırst occupied it in January 1991. It was estimated that the building would have a useful life of 40 years and a salvage value of $26,000 at the end of that time. Early in 2001, an addition to the building was constructed at a cost of $215,000. At that time, it was estimated that the remaining life of the building would be, as originally estimated, an additional 30 years, and that the addition would have a life of 30 years and a salvage value of $9,000. In 2019, it is determined that the probable life of the building and addition will extend to the end of 2050, or 20 years beyond the original estimate. (a) Using the straight-line method, compute the annual depreciation that would have been charged each year from 1991 through 2000. Annual depreciation from 1991 through 2000 $ / yr %24

A civil engineer who owns his own design/build/operate company purchased a small crane 3 years ago at a cost of $65,000. At that time, it was expected to be used for 10 years and then traded in for its salvage value of $10,000. Due to increased construction activities, the company would prefer to trade for a new, larger crane now, which will cost $80,000. The company estimates that the old crane can be used, if necessary, for another 3 years, at which time it would have a $17,000 estimated market value. Its current market value is estimated to be $29,000, and if it is used for another 3 years, it will have M&O costs (exclusive of operator costs) of $17,000 per year. Determine the values of P, n, S, and AOC that should be used for the existing crane in a replacement analysis.   The value of P is $  . The value of n is  years. The value of S is $  . The AOC value is $  per year.

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An intangible asset with an estimated useful life of30 years was acquired on January 1, 2007, for $540,000.On January 1, 2017, a review was made of intangibleassets and their expected service lives, and it was determinedthat this asset had an estimated useful life of 30more years from the date of the review. What is theamount of amortization for this intangible in 2017?