Anna and Ziggy Warren are continuing to review business practices. Currently, they are reviewing the company's property, plant, and equipment and have gathered the following information: (Click the icon to view the information.) Read the requirements. Requirement 1. Calculate the amount of monthly depreciation expense for the computer and office furniture for 2019. (Calculate a full month's depreciation. It is not necessary to prorate depreciation based on the number of days in service.) Estimated Acquisition Estimated Residual Depreciation Year 1 - Monthly Depreciation Expense Asset Date Cost Life Value Method Computer Mar. 2, 2019 6 years 1,000 DDB 275 12,600 3,020 Office Furniture Mar. 3, 2019 7 years 500 SL 30 Anna and Ziggy Warren are continuing to review business practices. Currently, they are reviewing the company's property, plant, and equipment and have gathered the following information: (Click the icon to view the information.) Read the requirements Requirement 1. Calculate the amount of monthly depreciation expense for the computer and office furniture for 2019. (Calculate a full month's depreciation. It is not necessary to prorate depreciation based on the number of days in service.) Estimated Residual Year 1- Monthly Depreciation Acquisition Estimated Life Depreciation Method Asset Date Cost Value Expense 6 years 1,000 DDB Computer Office Fumiture Mar 2, 2019 Mar. 3, 2019 12,600 3,020 275 30 7 years 500 SL Requirements i Data Table Estimated Residual Value Acquisition Date Depreciation Method Asset Cost 1. Calculate the arount of monthly depreciation expense for the computer and office furniture for 2019 2. For each asset, determine the book value as of December 31, 2018. Then, calculate the depreciation expense for the first six months of 2019 and the book value as of June 30, 2019. 3. Prepare a partial balance sheet showing Property, Plant, and Equipment as of June 30, 2019 Estimated Life 8 years Monthly Depreciation Expense $ 70 $ 6,720 s 0 SL 60,000 n/a 213,000 15 years 15,000 SL 1,100 Canoes Nov. 3, 2018 Land Dec. 1. 2018 Building Dec. 1. 2018 Canoes Dec. 2. 2018 Computer Mar. 2. 2019 Office Furniture Mar. 3, 2019 5,760 8 years 0 SL 60 12,600 6 years 1,000 DDB Print Done 3,020 7 years 500 SL 2 SL = Straight-line: DDB - Double-declining-balance parts Check Anna and Ziggy Warren are continuing to review business practices. Currently, they are reviewing the company's property, plant, and equipment and have gathered the following information: (Click the icon to view the information.) Read the requirements. Requirement 1. Calculate the amount of monthly depreciation expense for the computer and office furniture for 2019. (Calculate a full month's depreciation. It is not necessary to prorate depreciation based on the number of days in service.) Estimated Acquisition Estimated Residual Depreciation Year 1 - Monthly Depreciation Expense Asset Date Cost Life Value Method Computer Mar. 2, 2019 6 years 1,000 DDB 275 12,600 3,020 Office Furniture Mar. 3, 2019 7 years 500 SL 30 Anna and Ziggy Warren are continuing to review business practices. Currently, they are reviewing the company's property, plant, and equipment and have gathered the following information: (Click the icon to view the information.) Read the requirements Requirement 1. Calculate the amount of monthly depreciation expense for the computer and office furniture for 2019. (Calculate a full month's depreciation. It is not necessary to prorate depreciation based on the number of days in service.) Estimated Residual Year 1- Monthly Depreciation Acquisition Estimated Life Depreciation Method Asset Date Cost Value Expense 6 years 1,000 DDB Computer Office Fumiture Mar 2, 2019 Mar. 3, 2019 12,600 3,020 275 30 7 years 500 SL Requirements i Data Table Estimated Residual Value Acquisition Date Depreciation Method Asset Cost 1. Calculate the arount of monthly depreciation expense for the computer and office furniture for 2019 2. For each asset, determine the book value as of December 31, 2018. Then, calculate the depreciation expense for the first six months of 2019 and the book value as of June 30, 2019. 3. Prepare a partial balance sheet showing Property, Plant, and Equipment as of June 30, 2019 Estimated Life 8 years Monthly Depreciation Expense $ 70 $ 6,720 s 0 SL 60,000 n/a 213,000 15 years 15,000 SL 1,100 Canoes Nov. 3, 2018 Land Dec. 1. 2018 Building Dec. 1. 2018 Canoes Dec. 2. 2018 Computer Mar. 2. 2019 Office Furniture Mar. 3, 2019 5,760 8 years 0 SL 60 12,600 6 years 1,000 DDB Print Done 3,020 7 years 500 SL 2 SL = Straight-line: DDB - Double-declining-balance parts Check
