On January 1, 2010, Great White Corporation purchased an office building for $1,000,000. The building hasd an estimated salvage value of $100,000 and an estimated useful life of 15 years. Great White uses the straight-line method of depreciation.
Required:
a. Compute depreciation expense on this asset for 2010.
b. Compute depreciation expense on this asset for 2011.
c. Compute accumulated depreciation on this asset at the end of 2013.
d. Compute the building's book value at the end of 2013.

Question

On January 1, 2010, Great White Corporation purchased an office building for $1,000,000. The building hasd an estimated salvage value of $100,000 and an estimated useful life of 15 years. Great White uses the straight-line method of depreciation.
Required:
a.	Compute depreciation expense on this asset for 2010.
b.	Compute depreciation expense on this asset for 2011.
c.	Compute accumulated depreciation on this asset at the end of 2013.
d.	Compute the building's book value at the end of 2013.

Quizplus · Accepted Answer

The Answer of On January 1, 2010, Great White Corporation purchased an office building for $1,000,000. The building hasd an estimated salvage value of $100,000 and an estimated useful life of 15 years. Great White uses the straight-line method of depreciation.
Required:
a.	Compute depreciation expense on this asset for 2010.
b.	Compute depreciation expense on this asset for 2011.
c.	Compute accumulated depreciation on this asset at the end of 2013.
d.	Compute the building's book value at the end of 2013.

On January 1, 2010, Great White Corporation Purchased an Office