Bridge City Consulting bought a building and the land on which it is located for $145,000 cash. The land is estimated to represent 60 percent of the purchase price. The company paid $15,000 for building renovations before it was ready for use. Record all expenditures for the land and buildings assuming all transactions were paid for with cash and occurred at the start of the year.
Compute straight-line depreciation on the building at the end of one year, assuming an estimated 10-year useful life and a $16,000 estimated residual value. (Do not round intermediate calculations.)
What should be the book value of (a) the land and (b) the building at the end of year 2?

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The business cycle is the periodic but irregular up-and-down movement in economic activity, measured by fluctuations in real gross domestic product (gdp) and other macroeconomic variables. a business cycle is typically characterized by four phases—recession, recovery, growth, and decline—that repeat themselves over time. economists note, however, that complete business cycles vary in length. the duration of business cycles can be anywhere from about two to twelve years, with most cycles averaging six years in length. some business analysts use the business cycle model and terminology to study and explain fluctuations in business inventory and other individual elements of corporate operations. but the term "business cycle" is still primarily associated with larger (industry-wide, regional, national, or even international) business trends.