Big Sky Farms
Partial Balance Sheet
April 30, 2020
Property, plant and equipment:
Land				$	750,000
Building1	$	885,000
Less: Accumulated depreciation		649,000			236,000
Equipment2		590,000
Less: Accumulated depreciation		250,160			339,840
Total property, plant and equipment				$	1,325,840

¹The building was purchased on May 3, 2009, and is depreciated to the nearest whole month using the straight-line method. Depreciation is based on a 15-year life, after which it will be demolished and replaced with a new one. ²The equipment was purchased on November 3, 2017, and is depreciated to the nearest whole month using the double-declining-balance method. The total estimated useful life is 10 years with a residual value of $250,000. Required: 1. Calculate and record depreciation for the year just ended April 30, 2021, for both the building and equipment.

2. Prepare the property, plant, and equipment section of the balance sheet at April 30, 2021. (Enter all amounts as positive values.)

View transaction list Journal entry worksheet 1 2 > Record the depreciation for the building, for the year ended April 30, 2021. Note: Enter debits before credits. General Journal Debit Credit Date Apr. 30, 2021 Record entry Clear entry View general journal BIG SKY FARMS Partial Balance Sheet April 30, 2021 Property, plant and equipment: Land Building 0 Equipment 0 Total property, plant and equipment $ 0