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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 whole
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. There 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 Date of Purchase Description Depreciation Method Depreciation Balance of Depreciation Balance of Accum. Deprec. Expense for Accmu. Deprec. Dec. 31, 2020 2021 Dec. 31, 2021 Cost1 Residual Life Office Equip. Machinery Truck March 27/17 June 4/17 Nov. 13/20 Straight-line Double-declining-balance Units-of-production $ 68,000 315,000 134,000 $ 12,000 10 yr. 26,000 6 yr. 20,000 400,000 sq. km2
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