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    Robertson Inc depreciation SL 150% declining balance methods

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    The property, plant, and equipment accounts o Robertson Inc. had the following balances at December 31, 2014.

    Account Name Amount
    Land $300,000
    Land improvements $140,000
    Buildings $1,100,000
    Equipment $960,000
    For each property, plant, and equipment account prepare a schedule showing depreciation expense for each year ended December 31, 2014. Use the following depreciation methods and useful lives:
    Land improvements - straight line 15 yrs
    Building 150% declining balance; 20 yrs
    Equipment - straight line; 10 yrs

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    Solution Summary

    A schedule shows the depreciation expense for each year of the asset life for improvements, building and equipment. Click in cells to see computations.