Accounting Problem (Simple)

Instructions

WaterwayIndustries Ltd., a public company, presents you with the following information: (refer to Question 1 Graph.png, fill in the blanks.)

(a)

Complete the table for the year ended December 31, 2024. The company depreciates all assets for a half year in the year of acquisition and the year of disposal.(Round answers to 0 decimal places, e.g. 5,275.)

Accumulated Life Date Residal Description Depreciation Cost in Depreciation Depreciation Purchased Value Method to December for 2024 Years 31, 2023 Machine A Dec. 2, $145,000 $16,000 10 Double $40,600 2022 Declining Balance Machine B Aug. 15, $22,000 5 Straight-Line $26,000 2021 Machine C July 21, $72,600 $24,000 8 Double 2021 Declining Balance