125% T View Zoom Add Category Insert Table Chart Text Shape Media Comment Collaborate Format Organize Instructions Template Example Briefing The ABC, Inc. company accumulated the fixed asset purchases listed below. The company's depreciation policy included a capital threshold of $1,000 and the following useful lives: Land improvements - 15 years Building - 30 years Building improvements - 20 years Machine - 15 years Vehicles - 7 years Computers - 5 years Copiers - 5 years 1. On October 1, 2017, the Corporation purchased land for $1,250,000 and existing building for $2,300,000. The property was placed in service in the same month. 2. During the spring of 2018, the company improved the property by building paved parking area (cost $35,000), driveway ($10,000) and fence (8,000) which were placed in operations on June 1, 2018. 3. ON November 1, 2017, the company purchased a machine (cost $65,000), a truck($33,000), a computer($2,000) and a copier ($12,000) which were utilized in the same month. 4. On July 1, 2019, the company completed the construction of a second building. The total cost was $1,550,000. 5. On September 1, 2019, the company purchased another machine for $45,500, a bus for $35,000 and 2 additional computers - $1,500 each. 6. On August 1, 2020, the roof of building one was renovated, an overall improvement of building one was completed and placed in service. The roof renovation cost was $850,000 and the building improvement total cost was $956,000. Required: Using the facts disclosed above, complete the depreciation schedule (see next tab) using straight-line depreciation method. The fixed assets do not have an estimated residual value.100% T View Zoom Add Category Insert Table Chart Text Shape Media Comment Collaborate Format Organize Instructions Template Example Briefing ABC, Inc. Depreciation Schedule - straight-line method Fiscal Year Period - July 1 - June 30 Date Depr. Per Per FYE 06/30/2018 FYE 06/30/2019 FYE 06/30/2020 FY06/30/2021 Acquired Item/Description Cost Year # mo Amnt Cum A/D Net Val # mo Amnt Cum A/D Net Val # mo Cum A/D Net Val # mo Amnt Cum A/D Net Val check** LAND & LAND IMPROVEMENTS /b zero BUILDING & IMPROVEMENTS s/b zero FURNITURE, FIXTURES & EQUIPMENT S s/b zero Grant total s/b zero * * These check cells should be zero, if not, the schedule has a formula error