On January 1, 2010, Powell Company Purchased a Building and Machinery

question 81

Essay

On January 1, 2010, Powell Company purchased a building and machinery that have the following useful lives, salvage value, and costs.Building, 25-year estimated useful life, $6,000,000 cost, $600,000 salvage valueMachinery, 10-year estimated useful life, $800,000 cost, no salvage valueThe building has been depreciated under the straight-line method through 2014. In 2015, the company decided to switch to the double-declining balance method of depreciation for the building. Powell also decided to change the total useful life of the machinery to 8 years, with a salvage value of $40,000 at the end of that time. The machinery is depreciated using the straight-line method.
Instructions
(a) Prepare the journal entry necessary to record the depreciation expense on the building in 2015.
(b) Compute depreciation expense on the machinery for 2015.

Identify the different types of reports and their purposes within a business context.

Distinguish between informational and analytical reports.

Recognize different proposal types and their specific requirements.

Understand the principles of effective survey design and execution.

---

Definitions:

Transfer Obstacles

Challenges or barriers that prevent the effective application of new skills or knowledge from the learning environment to the workplace.

Coping Skills

Techniques or strategies that individuals use to manage stress, emotions, or challenging situations.

Positive Transfer Climate

An organizational or educational environment that supports and encourages the application of new skills and knowledge acquired through training to actual work or real-life situations.

Work Environment

An environment at work characterized by factors such as culture, policies, and physical setup that impact employees' performance and satisfaction.