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21 West Coast Tours runs boat tours along the west coast of British Columbia. On March 5, 2023, it purchased, with cash, a cruising
21 West Coast Tours runs boat tours along the west coast of British Columbia. On March 5, 2023, it purchased, with cash, a cruising boat for $936,000, having a useful life of 10 years or 13,800 hours, with a residual value of $246,000. The company's year-end is December 31 Required: Calculate depreciation expense for the fiscal years 2023, 2024, and 2025 by completing a schedule. (Note: Depreciation is calculated to the nearest month. Assume actual hours of service were: 2023, 900; 2024, 1,960, 2025, 1,715.) Depreciation Method 02:28:33 Double-Declining Year Straight-Line Balance Units-of- Production 2023 2024 2025
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Lets address the given tasks one by one Task 1 Calculate Depreciation Expense Details provided Purchase price 936000 Useful life 10 years Total hours 13800 Residual value 246000 Yearend is December 31 ...Get Instant Access to Expert-Tailored Solutions
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