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The following information is available for Paragon as of November 30, 20X5.

Property, plant and equipment

Land $27,500

Building $36,000

Accumulated depreciation (13,500)

Paragon's building is being depreciated using the straight-line method. The building has a20-year

estimated useful life and an estimated salvage value of $6,000. The number of years the building has

been depreciated by Paragon as of November30,20X5 is

A.15.0 years.

B.12.5 years.

C.9.0 years.

D.7.5 years.

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Question added by Deleted user
Date Posted: 2015/05/01
WILSON DEPALAC
by WILSON DEPALAC , assistant manager accounts , falcon pack industry llc

The answer is b.9 years

formula:/20 years =1,500

A/D =13,500/1500=9 YEARS.

FITAH MOHAMED
by FITAH MOHAMED , Financial Manager , FUEL AND ENERGY CO for transportion petroleum materials

C..>>>>>>>>>>>>>>>>>>>>>>>9.0 years.

 

- available Value  for depreciation ==$30,000

- Annual depreciation premium =30000/20 value = $1,500

- The land is not be counted a depreciation

so all  Accumulated depreciation is belong to  the building 

- The number of years the building has been depreciated  =13500/1500 =9.00 years

Arslan Ali Khan ali
by Arslan Ali Khan ali , Accounts and Finance Assistant , Vertex Electronic pvt limited

C)9 years.  one year depreciation for building is/20years =1500 per year total depreciation is13500. so13500/1500=9 years

Salah Othman Yousef Alshambaati
by Salah Othman Yousef Alshambaati , مدير ادارة الحسابات , شركة انفال الجديدة للتجارة والمقاولات

C.9.0 years.<<<<<<<<<<<<<<<<<

Muhammad Ramzan Tufail  ACCA
by Muhammad Ramzan Tufail ACCA , Assistant Finance Manager , Eltizam Asset Management Group

(D) is the Correct Ans.

 

 

Thank you...

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