Update depreciation on assets disposed of at time of sale

Reference no: EM13159777

Journalize the above transactions. Zeller uses straight-line depreciation for buildings and equipment.The buildings are estimated to have a 50-year useful life and no salvage value. The equipment is estimated to have a 10-year useful life and no salvage value. Update depreciation on assets disposed of at the time of sale or retirement.

(b) Depreciation expense-
Building $530,000;
Equipment $3,980,000

Reference no: EM13159777

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