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olivia taylor company built three houses for a total cost of $192,000. appraisal values for the three completed houses were: white house, $48,000, blue house $72,000, and green house $120,000. using the basket purchase allocation, the recorded value of the green house should be:

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The process of allocating a plant asset's cost to an expense in the accounting periods that benefit from its use is known as depreciation.

Which approaches to depreciation allocate the cost of long-term assets in relation to time?

Partial-Year Depreciation Allocating depreciation costs according to the number of months an asset is owned in a year is a common strategy.An asset with a five-year useful life, a salvage value of $10,000, and a total cost of $58,000 are two examples.

Straight-line, declining balance, sum of the years' digits, and units of production are the four GAAP-allowable methods for calculating depreciation.

Learn more about depreciation here:

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