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At December 31, 2019, Dynamic Exploration's balance sheet showed total PPE assets of $816,600 and total accumulated depreciation of $346,779 as detailed in the PPE
At December 31, 2019, Dynamic Exploration's balance sheet showed total PPE assets of $816,600 and total accumulated depreciation of $346,779 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 Description Date of Purchase Depreciation Method1 Cost2 Residual Life Balance of Depreciation Accum. Deprec. Expense for Dec. 31, 2019 2020 Balance of Accum. Deprec. Dec. 31, 2020 Gle S/L $ $ Building Modular Furniture Truck May 2, 2014 May 2, 2014 660,000 75,600 81000 S/L 255,000 10 yr 0 6 yr 10.500 8 yr 229,500 71,400 Jan 25, 2017 DDB 45,879 | altera 1 S/L-Straight-Line; DDB-Double-Declining-Balance Shelton 2 There have been no disposals or betterments since the date of purchase G
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