At December 31, 2023, Halifax Servicing's balance sheet showed capital asset information as detailed in the schedule below. Halifax calculates depreciation to the nearest
At December 31, 2023, Halifax Servicing's balance sheet showed capital asset information as detailed in the schedule below. Halifax calculates depreciation to the nearest whole month. 1 There have been no disposals or betterments since the date of purchase. 2 Actual kilometres driven were: 2023, 14,000; 2024, 68,000. Required: Complete the schedule. (Do not round intermediate calculations. Round the final answers to the nearest whole dollars.) Cost information Description Date of Purchase Depreciation Cost1 Residual Life Method Balance of Accum. Deprec. Dec. 31, 2023 Depreciation Depreciation Expense for 2024 Balance of Accmu. Deprec. Dec. 31, 2024 Office Equip. Machinery March 27/20 June 4/20 Truck Nov. 13/23 Straight-line Double-declining-balance Units-of-production $ 72,000 $ 12,000 365,000 28,000 10 yr. 6 . 144,000 22,000 400,000 sq. km2
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