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At December 31, 2020, Halifax Servicing's balance sheet showed capital asset information as detailed in the schedule below. Halifax calculates depreciation to the nearest
At December 31, 2020, Halifax Servicing's balance sheet showed capital asset information as detailed in the schedule below. Halifax calculates depreciation to the nearest whole month. 1There have been no disposals or betterments since the date of purchase. 2 Actual kilometres driven were: 2020, 14,000; 2021, 68,000. Required Complete the schedule. (Do not round intermediate calculations. Round the final answers to the nearest whole dollars.) Cost information Description Office Equip Machinery Truck Date of Purchase March 27/17 June 4/17 Depreciation Cost Residual Life Method Balance of Accum. Deprec, Dec. 31, 2020 Depreciation Depreciation Expense for 2021 Balance of Accmu. Deprec Dec. 31, 2021 Nov. 13/20 Straight-line Double-declining-balance Units-of-production 275,000 113,000 $ 52.000 $ 14,000 46,000 10 yr 6 yr 26,000 250,000 sq. km2
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