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
Required:
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.
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