Avery and Zeus Waldron are continuing to review business practices. Currently, they are reviewing the company's property, plant, and equipment and have gathered the following information: (Click the icon to view the information.) Read the requirements. Requirement 1. Calculate the amount of monthly depreciation expense for the computer and office furniture for 2025. (Calculate a full month's depreciation. It is not necessary to prorate depreciation based on the number of days in service.) Estimated Year 1 - Monthly Acquisition Estimated Residual Depreciation Depreciation Asset Date Cost Life Value Method Expense Computer Mar. 2, 2025 3,000 5 years 600 DDB $ $ 100 Office Furniture Mar. 3, 2025 6,160 6 years 400 SL 80 Requirement 2. For each asset, determine the book value as of December 31, 2024. Then, calculate the depreciation expense for the first six months of 2025 and the book value as of June 30, 2025. Begin by completing the table by entering the amounts for 2024 for the assets placed in service during 2024. In the following step we will complete the table for the first six months of 2025 for all assets placed in service prior to June 30, 2025. (Complete all answer boxes. Enter a "o" for any zero balances. Abbreviations used: Accum. = Accumulated; Depr. = Depreciation; Exp. = Expense.) - X Data table 60,000 Estimated Residual Value Acquisition Date Asset Depreciation Method Cost Estimated Life Accum. Book 2025 Accum. Book 2024 Depr. Value Depr. Exp. Depr. Value Acquisition Depr. Dec. 31. Dec. 31, Through Jun 30, Jun. 30, Asset Date Cost Expense 2024 2024 Jun. 30 2025 2025 Canoes Nov. 3, 2024 , $ $ 4,320 $ 90$ 90' $ 4,230$ 270's 360 $ $ 3,960 Land Dec. 1, 2024 , 60.000 0 o 0 0 o' 60.000 Building Dec. 1, 2024 358,000 1.400 1,400 356,600 8,400 9,800 348.200 Canoes Dec. 2. 2024 6,720 70 70 420 490 Computer Mar. 2. 2025 , 3,000 4009 400 2,600 Office Furniture Mar. 3. 2025 6,160 320 3209 5,840 Requirement 3. Prepare a partial balance sheet showing Property, Plant, and Equipment as of June 30, 2025. (Complete all answer boxes.) a , Water Way Company Balance Sheet (Partial): June 30, 2025 Property, Plant, and Equipment: 6,650 Monthly Depreciation Expense $ 45 6,230 Canoes Nov. 3, 2024 S 8 years $ 0 4,320 60,000 SL n/a Land Building Canoes Dec. 1, 2024 Dec. 1, 2024 Dec. 2, 2024 358,000 22,000 SL 1,400 70 0 SL 6.720 3.000 20 years 8 years 8 5 years 6 years Computer 600 DDB Mar. 2, 2025 Mar 3, 2025 Office Furniture 6.160 400 SL SL = Straight-line: DDB = Double-declining-balance Print Done Property, Plant, and Equipment, Net Avery and Zeus Waldron are continuing to review business practices. Currently, they are reviewing the company's property, plant, and equipment and have gathered the following information: (Click the icon to view the information.) Read the requirements. Requirement 1. Calculate the amount of monthly depreciation expense for the computer and office furniture for 2025. (Calculate a full month's depreciation. It is not necessary to prorate depreciation based on the number of days in service.) Estimated Year 1 - Monthly Acquisition Estimated Residual Depreciation Depreciation Asset Date Cost Life Value Method Expense Computer Mar. 2, 2025 3,000 5 years 600 DDB $ $ 100 Office Furniture Mar. 3, 2025 6,160 6 years 400 SL 80 Requirement 2. For each asset, determine the book value as of December 31, 2024. Then, calculate the depreciation expense for the first six months of 2025 and the book value as of June 30, 2025. Begin by completing the table by entering the amounts for 2024 for the assets placed in service during 2024. In the following step we will complete the table for the first six months of 2025 for all assets placed in service prior to June 30, 2025. (Complete all answer boxes. Enter a "o" for any zero balances. Abbreviations used: Accum. = Accumulated; Depr. = Depreciation; Exp. = Expense.) - X Data table 60,000 Estimated Residual Value Acquisition Date Asset Depreciation Method Cost Estimated Life Accum. Book 2025 Accum. Book 2024 Depr. Value Depr. Exp. Depr. Value Acquisition Depr. Dec. 31. Dec. 31, Through Jun 30, Jun. 30, Asset Date Cost Expense 2024 2024 Jun. 30 2025 2025 Canoes Nov. 3, 2024 , $ $ 4,320 $ 90$ 90' $ 4,230$ 270's 360 $ $ 3,960 Land Dec. 1, 2024 , 60.000 0 o 0 0 o' 60.000 Building Dec. 1, 2024 358,000 1.400 1,400 356,600 8,400 9,800 348.200 Canoes Dec. 2. 2024 6,720 70 70 420 490 Computer Mar. 2. 2025 , 3,000 4009 400 2,600 Office Furniture Mar. 3. 2025 6,160 320 3209 5,840 Requirement 3. Prepare a partial balance sheet showing Property, Plant, and Equipment as of June 30, 2025. (Complete all answer boxes.) a , Water Way Company Balance Sheet (Partial): June 30, 2025 Property, Plant, and Equipment: 6,650 Monthly Depreciation Expense $ 45 6,230 Canoes Nov. 3, 2024 S 8 years $ 0 4,320 60,000 SL n/a Land Building Canoes Dec. 1, 2024 Dec. 1, 2024 Dec. 2, 2024 358,000 22,000 SL 1,400 70 0 SL 6.720 3.000 20 years 8 years 8 5 years 6 years Computer 600 DDB Mar. 2, 2025 Mar 3, 2025 Office Furniture 6.160 400 SL SL = Straight-line: DDB = Double-declining-balance Print Done Property, Plant, and Equipment, Net
