On July 1, ABC Company purchased a building for $1,243,000 a…
On July 1, ABC Company purchased a building for $1,243,000 and uses the 200% declining-balance depreciation method. The estimated residual value of the building is $155,000 and it has an expected useful life of 10 years. What is the building’s book value at the end of year 2 if ABC uses a December 31, year-end?