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Required information E8-3 (Algo) Computing and Recording Cost and Depreciation of Assets (Straight-Line Depreciation) LO8-2,...

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Accounting

Required information E8-3 (Algo) Computing and Recording Cost and Depreciation of Assets (Straight-Line Depreciation) LO8-2, 8-3 Skip to question [The following information applies to the questions displayed below.] Shahia Company bought a building for $73,000 cash and the land on which it was located for $112,000 cash. The company paid transfer costs of $10,000 ($7,000 for the building and $3,000 for the land). Renovation costs on the building before it could be used were $30,000. E8-3 Part 3 3. What would be the net book value of the property (land and building) at the end of year 2? (Amounts to be deducted should be indicated by a minus sign.)

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