Show work please. acquired a building on January 1, 2000, at a cost of...
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acquired a building on January 1, 2000, at a cost of $1,200,000. It was estimated at that time that its life would be 40 years, with no salvage value. In January 1, 2010, a new roof was installed at a cost of $150,000, and it was estimated then that the building would have a useful life of 25 years from that date (i.e., January 1, 2010). The cost of the old roof was $90,000 REQUIRED: Assuming Juse straight-line depreciation method, compute the following items that are related to the building/roof and put your answers in the table below. Show and label your work clearly. ITEMS ANSWERS Gain (or loss) related to the disposal of the old roof Depreciation expense of the building for year 2010
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