Depreciate the warehouse using the double declining balance method  The warehouse has an estimated useful life of 20 years with a salvage value of $40,000 

Construction of a Warehouse Contract Price 200,000 

Building permit 1,500 

Architect's fee 15,000 

Engineering fees 7,500 

Excavation costs 2,500 

Interest on bank loan during construction period 1,000 

Staff Salary - supervision of construction (six months) 12,500 

Total Acquisition cost 240,000

 Required

Record the depreciation expense for year 10 and prepare the partial balance sheet at the end of year 10 

Answer rating: 100% (QA)

To calculate the depreciation expense for year 10 using the double declining balance method we need ... View the full answer