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At December 31, 2019, Dynamic Exploration's balance sheet showed total PPE assets of $1,079,400 and total accumulated depreciation of $469,174 as detailed in the PPE
At December 31, 2019, Dynamic Exploration's balance sheet showed total PPE assets of $1,079,400 and total accumulated depreciation of $469,174 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 Description Date of Purchase Depreciation Depreciation Expense for 2020 Depreciation Methodi Balance of Accum. Deprec Dec 31, 2020 S Buliding Modular Furniture Truck May 2, 2014 May 2, 2014 Jan 25, 2017 S/L S/L DDB Balance of Costa Residual Life Accur. Depree. Deo. 21, 2019 840,000 $ 345,000 10 yr $ 280,500 140,400 132.000 99,000 19,500 yr 30,074 Oy 1 S/L-Straight-Line; DDB-Double-Declining- Balance. 2 There have been no disposals or betterments since the date of purchase
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