Question 1 Fast and Easy Real Estate purchased a new building which cost them $1670,000. At...

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Question 1 Fast and Easy Real Estate purchased a new building which cost them $1670,000. At the time, it was estimated that the building would last 21 years and have a salvage value of $200,000. At the begining of year 6, the new accountant determined that the building would last 30 more years and have a salvage value of $300,000. Required: The depreciation per year from year 1 to year 5 will be The accumulated depreciation at the end of year 5 will be The depreciation per year from year 6 onward will be DO NOT INCLUDE COMMAS, DOLLAR SIGNS, DECIMALS OR CENTS IN YOUR ANSWER. WRITE AS EXAMPLE 78000 ALL OTHER ANSWERS WILL BE MARKED WRONG 4 Question 1 Fast and Easy Real Estate purchased a new building which cost them $1670,000. At the time, it was estimated that the building would last 21 years and have a salvage value of $200,000. At the begining of year 6, the new accountant determined that the building would last 30 more years and have a salvage value of $300,000. Required: The depreciation per year from year 1 to year 5 will be The accumulated depreciation at the end of year 5 will be The depreciation per year from year 6 onward will be DO NOT INCLUDE COMMAS, DOLLAR SIGNS, DECIMALS OR CENTS IN YOUR ANSWER. WRITE AS EXAMPLE 78000 ALL OTHER ANSWERS WILL BE MARKED WRONG 4

Answer rating: 100% (QA)

To calculate depreciation we generally use the formula Depreciation per year Cost of the asset Salva... View the full answer