The following information about the fixed assets for Martinez Books Inc. has been provided to you. Martinez uses straight-line depreciation. The assets were acquired on January 1 and have no residual value. Useful Life at Date Asset Cost of Acquisition Useful Life Remaining at December 31, 2022 Office building $4,350,000 15 years 10 years Warehouse $11,600,000 10 years 8 years (a) (b) Your answer has been saved. See score details after the due date. Using the SLN() function in Excel, calculate the depreciation expense for the office building and warehouse for the year ended December 31, 2022. (Round answers to 2 decimal places, e.g. 5,275.25.) Depreciation Expense Asset Office Building $ 290000 Warehouse $ 1160000 Attempts: 1 of 1 used Using Excel, calculate the accumulated depreciation and the carrying amount for the year ended December 31, 2022. (Round answers to 2 decimal places, e.g. 5,275.25.) Asset Accumulated Depreciation Office Building $ $ Warehouse $ $ Carrying Amount

The following information about the fixed assets for Martinez Books Inc. has been provided to you. Martinez uses straight-line depreciation. The assets were acquired on January 1 and have no residual value. Useful Life at Date Asset Cost of Acquisition Useful Life Remaining at December 31, 2022 Office building $4,350,000 15 years 10 years Warehouse $11,600,000 10 years 8 years (a) (b) Your answer has been saved. See score details after the due date. Using the SLN() function in Excel, calculate the depreciation expense for the office building and warehouse for the year ended December 31, 2022. (Round answers to 2 decimal places, e.g. 5,275.25.) Depreciation Expense Asset Office Building $ 290000 Warehouse $ 1160000 Attempts: 1 of 1 used Using Excel, calculate the accumulated depreciation and the carrying amount for the year ended December 31, 2022. (Round answers to 2 decimal places, e.g. 5,275.25.) Asset Accumulated Depreciation Office Building $ $ Warehouse $ $ Carrying Amount

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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