Stephen Services is building a new campus block to house the Business School. The building costs a total of $180million to construct and was completed on 31December 2014, with an expected useful life of 40 years and residual value of $30m. The building is depreciated on a straight line basis. Record the adjusting entry for depreciation for the financial year ending 30 June 2023.

Answer rating: 100% (QA)

Date Account Name Debit Credit 30062023 Depreciati... View the full answer