Current Attempt in Progress Steve Grant, the new controller of Metlock Ltd., has reviewed the expected...

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Current Attempt in Progress Steve Grant, the new controller of Metlock Ltd., has reviewed the expected useful lives and residual values of selected depreciable assets at the beginning of 2020. His findings are as follows. Accumulated Depreciation Total Uselul life Date in Years Residual Valoe Type of Asset Acquired Cost 1/1/20 Old Proposed Old Proposed Building 1/1/10 E810,000 £191.250 40 50 £45.000 E22,750 Warehouse 1/1/15 104,000 20,000 25 20 4,000 10.500 All assets are depreciated by the straight-line method. Metiock uses a calendar year in preparing annual financial statements. After discussion, management has agreed to accept Grant's proposed changes. All assets are depreciated by the straight-line method. Metlock uses acalendar year in preparing annual financial statements. Alter discussion, management has agreed to accept Grant's proposed changes. Compute the revised annual depreciation on each asset in 2020. Building Warehouse Revised annual depreciation 3. eTextbook and Media List of Accounts Current Attempt in Progress Steve Grant, the new controller of Metlock Ltd., has reviewed the expected useful lives and residual values of selected depreciable assets at the beginning of 2020. His findings are as follows. Accumulated Depreciation Total Uselul life Date in Years Residual Valoe Type of Asset Acquired Cost 1/1/20 Old Proposed Old Proposed Building 1/1/10 E810,000 £191.250 40 50 £45.000 E22,750 Warehouse 1/1/15 104,000 20,000 25 20 4,000 10.500 All assets are depreciated by the straight-line method. Metiock uses a calendar year in preparing annual financial statements. After discussion, management has agreed to accept Grant's proposed changes. All assets are depreciated by the straight-line method. Metlock uses acalendar year in preparing annual financial statements. Alter discussion, management has agreed to accept Grant's proposed changes. Compute the revised annual depreciation on each asset in 2020. Building Warehouse Revised annual depreciation 3. eTextbook and Media List of Accounts

Answer rating: 100% (QA)

Solution Computation of Depreciation expenses Revised for all Assets 1 Building Value ... View the full answer