Tristen Company purchased a five-story office building on January 1, 2019, at a cost of $5,000,000. The building has a residual value of $200,000 and a 30-year life. The straight-line depreciation method is used. On June 30, 2021, construction of a sixth floor was completed at a cost of $1,650,000.Required:Calculate the depreciation on the building and building addition for 2021 and 2022 assuming that the addition did not change the life or residual value of the building.

Cornerstones of Financial Accounting
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Chapter7: Operating Assets
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Tristen Company purchased a five-story office building on January 1, 2019, at a cost of $5,000,000. The building has a residual value of $200,000 and a 30-year life. The straight-line depreciation method is used. On June 30, 2021, construction of a sixth floor was completed at a cost of $1,650,000.
Required:
Calculate the depreciation on the building and building addition for 2021 and 2022 assuming that the addition did not change the life or residual value of the building.

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