Capital expenditures, depreciation, and disposal

merton company purchased a building on january 1, 2013, at a cost of $364,000. merton estimated that its life would be 25 years and its residual value would be $14,000.

on january 1, 2014, the company made several expenditures related to the building. the entire building was painted and floors were refinished at a cost of $21,000. a federal agency required merton to install additional pollution control devices in the building at a cost of $42,000. with the new devices, merton believed it was possible to extend the life of the building by six years.

in 2015, merton altered its corporate strategy dramatically. the company sold the building on april 1, 2015, for $392,000 in cash and relocated all operations to another state.

required:
1. determine the depreciation that should be on the income statement for 2013 and 2014.
2. what amount of gain or loss did merton record when it sold the building? do not round intermediate calculations.

Label each scenario with the term that best describes it. use the midpoint method when applicable. marcel duchamp was a famous artist prior to his death, and was known for his dada artwork, including works such as "soft toilet". all of his original sculptures and paintings go on sale. paul owns a tim horton's, a famous donut and coffee franchise. he is willing to sell as many maple glazed donuts as customers want at a price of $1.00 each, but he refuses to sell any donuts for any price lower than $1.00 . the price of facial tissues rises from $2.85 per box to $3.15 . as a result, p& g increases production from 15 million boxes to 25 million boxes of facial tissue. with the school semester starting for both high school and college, papermate chooses to increase production of pens from 38 million to 42 million after global prices of writing instruments increase from $1.90 a package to $2.10 a package. bright ideas increases its production of lightbulbs by 15% after a 400% increase in the price of fluorescent bulbs. labels: elastic supply; perfectly inelastic supply; perfectly elastic supply; inelastic supply; unit-elastic supply.

If the family’s net monthly income is 7,800 what percent of the income is spent on food clothing and housing?

Abus pass costs $5 per week. which of the following equations shows the total cost in dollars, t, of the bus pass for a certain number of weeks, w? t = 5w w = 5t t = 5 + w w = 5 + t