Required information [The following information applies to the questions displayed below.] Bridge City Consulting bought...
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Required information [The following information applies to the questions displayed below.] Bridge City Consulting bought a building and the land on which it is located for $150,000 cash. The land is estimated to represent 60 percent of the purchase price. The company paid $20,000 for building renovations before it was ready for use. Compute straight-line depreciation on the building at the end of one year, assuming an estimated 10-year useful life and a $8,000 estimated residual value. (Do not round intermediate calculations.) What should be the book value of (a) the land and (b) the buliding at the end of year 2
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