Part 1 of 2 1 92 points 1 a Allocate the lump sum purchase price...
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Part 1 of 2 1 92 points 1 a Allocate the lump sum purchase price to the separate assets purchased 1 b Prepare the journal entry to record the purchase 2 Compute the first year depreciation expense on the building using the straight line method assuming a 15 year life and a 30 000 salvage value 3 Compute the first year depreciation expense on the land improvements assuming a five year life and double declining balance depreciation Answer is not complete Complete this question by entering your answers in the tabs below Required 1A Required 1B Required 2 Required 3 Compute the first year depreciation expense on the land improvements assuming a five year life and double declining balance depreciation Depreciation expense on land improvements 31 936 Required 2 Required 3
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