Question # 02 On July 1, 2001, Company Ronaldo purchased a building at $1,500,000. Building is depreciated using the straight-line depreciation method. Useful life of the building is 10 years. Salvage...

Question # 02


On July 1, 2001, Company Ronaldo purchased a building at $1,500,000.
Building is depreciated using the straight-line depreciation method. Useful life of the building is 10 years. Salvage value of the building at the end of useful life is estimated as $110,000 what is the amount of depreciation expense for 2001? Depreciation expense each year with entries and also prepare depreciation schedule? The accounting year is from Jan – Dec.