Assume the following information for Macro Company. Original asset: Office building purchased Jan. 1, 2014. Useful life: 20 years. Salvage value: $0 Original cost: $800,000. Straight-line depreciation is used. On July 1, 2020, at a cost of $150,000, wall partitions were added to the third-floor executive office suite to in- crease the number of private offices (an addition). The partitions do not extend the life of the building and have no separate utility apart from the building. Required a. Compute annual depreciation expense for each year 2014 through 2019. b. Compute annual depreciation expense for 2020.

Assume the following information for Macro Company. Original asset: Office building purchased Jan. 1, 2014. Useful life: 20 years. Salvage value: $0 Original cost: $800,000. Straight-line depreciation is used. On July 1, 2020, at a cost of $150,000, wall partitions were added to the third-floor executive office suite to in- crease the number of private offices (an addition). The partitions do not extend the life of the building and have no separate utility apart from the building. Required a. Compute annual depreciation expense for each year 2014 through 2019. b. Compute annual depreciation expense for 2020.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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