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Compute the book value of the campground buildings

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Question - Compute the book value of the campground's buildings to be reported in the current year's December 31 balance sheet.

Depreciation on buildings owned by the campground is based on a 25-year life. The original cost of the buildings was $600,000. The Accumulated Depreciation: Buildings account has a credit balance of $310,000 at December 31, prior to the adjusting entry process. The straight-line method of depreciation is used.

Reference no: EM132731760

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