Matthew_McCoy_Problem 10-1A

Matthew_McCoy_Problem 10-1A - MatthewMcCoy Problem101A...

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Matthew McCoy Problem 10-1A Estimated Percent of Apportioned Asset Market Value Total Value Cost Building 514,250 55 Land 271,150 29 Land improvements 65,450 7 Four vehicles 84,150 9 Total 935,000 100 900,000 Building 495,000 Land 261,000 Land improvements 63,000 Equipment (Four vehicles) 81,000           Cash 81,000      Purchased building, land, and four vehicles Depreciation expense on building for 2009 (straight-line method) (Cost - Salvage Value) / Useful life in periods = Straight-line depreciation per period (495,000 - 30,000) / 15 years = 465,000 / 15 = $31,000 Depreciation expense on land improvements for 2009 (double-declining-balance)
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