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Question(s) / Instruction(s):

Amphlett Corporation started business on January 1 with the following long-lived assets: (22 points)

• A 20,000 square foot office building purchased for $1 million, having an expected useful life of 20 years and a residual value of $100,000

• Land costing $320,000

• 21 desktop workstations costing $1,000 each, with an expected useful life of three years and no salvage value

• Four automobiles costing $18,000 each, with an expected useful life of five years and salvage value of $2,000 each.


A. Calculate the depreciation expense for the long-lived assets in Year 2 using straight-line depreciation.

B. Prepare the long-term asset section of Amphlett’s balance sheet at December 31,

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