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At December 31, 2022, Dynamic Explorations balance sheet showed total PPE assets of $1,064,800 and total accumulated depreciation of $462,375 as detailed in the PPE
At December 31, 2022, Dynamic Explorations balance sheet showed total PPE assets of $1,064,800 and total accumulated depreciation of $462,375 as detailed in the PPE Subledger below. Dynamic calculates depreciation to the nearest whole month. Cost Information Depreciation Description Date of Purchase Depreciation1 Method Cost2 Residual Life Balance of Accum. Deprec. Dec. 31, 2022 Building May 2, 2017 S/L $ 830,000 $ 340,000 10 yr. $ 277,667 Modular Furniture May 2, 2017 S/L 136,800 0 6 yr. 129,200 Truck Jan.25, 2020 DDB 98,000 19,000 8 yr. 55,508 1 S/LStraight-Line; DDBDouble-Declining-Balance. 2 There have been no disposals or subsequent capital expenditures since the date of purchase. Assume that the
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