tiger Woods makes the following construction related expenditures:450,000 on January 1 2021300,000 on Oct 1 2021600,000 on Dec 1 2021500,000 on March 1, 2022 and construction ends June 30, 2022He has a 600,000 construction loan at 6 percent. In addition, they have a 1,000,000 loan at 4 percent and a 3,000,000loan at 5 percent.How much depreciation expense does he recognize in 2022 if the company uses straight-line depreciation, beginsdepreciating as soon as construction is finished, and the building has 30 year useful life and a residual value of 200,000?

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tiger Woods makes the following construction related expenditures: 450,000 on January 1 2021 300,000 on Oct 1 2021 600,000 on Dec 1 2021 500,000 on March 1, 2022 and construction ends June 30, 2022 He has a 600,000 construction loan at 6 percent. In addition, they have a 1,000,000 Iloan at 4 percent and a 3,000,000 loan at 5 percent. How much depreciation expense does he recognize in 2022 if the company uses straight-line depreciation, begins depreciating as soon as construction is finished, and the building has 30 year useful life and a residual value of 200,000?

tiger Woods makes the following construction related expenditures: 450,000 on January 1 2021 300,000 on Oct 1 2021 600,000 on Dec 1 2021 500,000 on March 1, 2022 and construction ends June 30, 2022 He has a 600,000 construction loan at 6 percent. In addition, they have a 1,000,000 Iloan at 4 percent and a 3,000,000 loan at 5 percent. How much depreciation expense does he recognize in 2022 if the company uses straight-line depreciation, begins depreciating as soon as construction is finished, and the building has 30 year useful life and a residual value of 200,000?

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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