Using the SLN() function in Excel, calculate the depreciation expense for the office building and warehouse f 1010000 (0
Using the SLN() function in Excel, calculate the depreciation expense for the office building and warehouse f 1010000 (0
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:The following information about the fixed assets for Indigo Books Inc. has been provided to you. Indigo uses straight-line depreciation.
The assets were acquired on January 1 and have no residual value.
Asset
Cost
Useful Life at Date
of Acquisition
Useful Life Remaining
at December 31, 2022
Office building
Warehouse
$6.150.000
$12,900,000
15 years
10 years
10 years
8 years
(a)
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.)
Asset
Depreciation Expense
Office Building
$
Warehouse
$
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