Required information
Problem A Algo Compute depreciation, amortization, and book value of longterm assets LO
The following information applies to the questions displayed below.
Stevens Sandwich Shop had the following longterm asset balances as of January :
Stevens purchased all the assets at the beginning of
The building is depreciated over a year service life using the doubledecliningbalance method and estimating no
residual value.
The equipment is depreciated over a year service life using the straightline method with an estimated residual value
of $
The patent is estimated to have a fiveyear useful life with no residual value and is amortized using the straightline
method.
Depreciation and amortization have been recorded for and first two years
Problem A Algo Part
Calculate the book value for each of the four longterm assets at December
