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At December 31, 2019, Dynamic Exploration's balance sheet showed total PPE assets of $1,050,200 and total accumulated depreciation of $455,574 as detailed in the
At December 31, 2019, Dynamic Exploration's balance sheet showed total PPE assets of $1,050,200 and total accumulated depreciation of $455,574 as detailed in the PPE Subledger below. Dynamic calculates depreciation to the nearest whole month. Required: Complete the schedule by calculating depreciation expense for 2020 for each asset and then determining the balance of accumulated depreciation at December 31, 2020. (Do not round intermediate calculations and round the final answers to nearest whole dollar.) Cost Information Depreciation Balance of Description Date of Purchase Depreciation Method1 Depreciation Cost2 Residual Life Accum. Deprec. Expense for Dec. 31, 2019 2020 Balance of Accum. Deprec Dec. 31, 2020 Building May 2, 2014 S/L $ 820,000 $ 335,000 10 yr. S 274,833 Modular Furniture May 2, 2014 S/L Truck Jan. 25, 2017 DDB 133,200 97,000 06 yr 125,800 18,500 8 yr. 54,941
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