e. Record depreciation expense for the year. (Prepare a single compound journal entry for depreciation expense for the year.) Click the icon to view the depreciation schedules from Requirement 4.) Date Accounts Debit Credit Adj. (e) inni Chaale Anamar i X Reference BUILDING: Straight-Line Depreciation Schedule Depreciation for the Year Asset Depreciable Useful Depreciation Accumulated Date Cost Cost Life Expense Depreciation Book Value 1/1/2024 $ 495,000 $ 495,000 12/31/2024 $ 30 years = $ 14,000 $ 14,000 481,000 12/31/2025 420,000 - 420,000 - 420,000 - 30 years 14,000 28,000 467,000 12/31/2026 30 years = 14,000 42,000 453,000 12/31/2027 30 years = 14,000 56,000 439,000 420,000 - 420,000 - 12/31/2028 30 years 14,000 70,000 425,000 STORE FIXTURES: Straight-Line Depreciation Schedule Depreciation for the Year Asset Depreciable Useful Depreciation Accumulated Book Print Done i X Reference STORE FIXTURES: Straight-Line Depreciation Schedule Depreciation for the Year Asset Depreciable Useful Depreciation Accumulated Book Date Cost Cost Life Expense Depreciation Value 1/1/2024 $ 105,000 $ 105,000 12/31/2024 105,000 - 15 years II 7,000/ $ 7,000 98,000 12/31/2025 15 years = 7,000 14,000 105,000 = 105,000 - 105,000 - 91,000 84,000 12/31/2026 15 years 7,000 21,000 12/31/2027 15 years = 7,000 28,000 77,000 70,000 12/31/2028 105,000 - 15 years 7,000 35,000 OFFICE EQUIPMENT: Double-Declining-Balance Depreciation Schedule Depreciation for the Year Asset Book DDB Depreciation Accumulated Book VI... D.l. Ill... Print Done OFFICE EQUIPMENT: Double-Declining-Balance Depreciation Schedule Depreciation for the Year Asset Book DDB Depreciation Accumulated Date Cost Value Rate Expense Depreciation Book Value 1/1/2024 $ 55,000 $ 55,000 12/31/2024 $ = $ 22,000 $ 22,000 33,000 55,000 x 33,000 * 12/31/2025 = 13,200 35,200 19,800 2 x (1:5) 2 x (1:5) 2 * (1-5) 2 x (1-5) 12/31/2026 19,800 x 7,920 43,120 11,880 12/31/2027 11,880 x 4,752 47,872 7,128 12/31/2028 128 48,000 7,000 Print Done