E22-10B (Depreciation Changes) On January 1, 2010, Apartments Plus Company purchased an apartment building and related equipment that have the following useful lives, salvage values, and costs.

profilemujionostevo
 (Not rated)
 (Not rated)
Chat

E22-10B (Depreciation Changes) On January 1, 2010, Apartments Plus Company purchased an apartment building and related equipment that have the following useful lives, salvage values, and costs. Building, 25-year estimated useful life, $300,000 salvage value, $2,500,000 cost Equipment, 10-year estimated useful life, no salvage value, $300,000 cost The building has been depreciated under the straight-line method through 2014. In 2015, the company decided to switch to the double-declining-balance method of depreciation for the building. Apartments

Plus also decided to change the total useful life of the equipment to 12 years, with a salvage value of $10,000 at the end of that time. The equipment is depreciated using the straight-line method.

Instructions

Prepare the journal entry(ies) necessary to record the depreciation expense on the building and equipment in 2015.

    • 6 years ago
    correct answer
    NOT RATED

    Purchase the answer to view it

    blurred-text
    • attachment
      e22_10.docx