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also prepare the property,plant, and equipment section of the balance sheet at april 30 2021( enter all amounts as positive values) Problem 9-7A Calculating depreciation
also prepare the property,plant, and equipment section of the balance sheet at april 30 2021( enter all amounts as positive values)
Problem 9-7A Calculating depreciation LO2 Use the following table Big Sky Fare Partial Balance Sheet April 30, 2020 Property, plant and equipment: Land Building Less: Accumulated depreciation Equipment? Lessi Accumulated depreciation Total property, plant and equipment $ 790,00 $945,000 742,519 282.50 630,eee 257120 362,888 $1,355,38 "The building was purchased on May 3, 2009, and is depreciated to the nearest whole month using the straight-line method. Depreciation is based on a 14 year life, after which it will be demolished and replaced with a new one. 2The equipment was purchased on November 3, 2017, and is depreciated to the nearest whole month using the double-declining balance method. The total estimated useful life is 10 years with a residual value of $200,000 Required: 1. Calculate and record depreciation for the year just ended April 30, 2021, for both the building and equipmentStep by Step Solution
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