Question: 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

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

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