Chapter 12 Property, Plant and Equipment and Intangibles Malaspina Touring Company runs boat tours along the west coast of British Columbia. It pur- Problem 12-3A chased on March 5, 2011, for cash of $690,000, a cruising boat with a useful life of 10 years or Calculating depreciation 15,25 hours with a residual value of $160,000. The company's year-end is December 31. partial periods Required LO2. 3 Calculate depreciation expense for the fiscal years 2011, 2012, and 2013 by completing a Check figure schedule with the following headings (round to the nearest whole dollar): DDB 2013 - 392,000 Depreciation Method excel Year Straight-Line Double-Declining-Balance Units-of-Production? Depreciation is calculated to the nearest month. 2 Assume actual hours of service were: 2011, 720, 2012, 1,780; 2013, 1,535. Analysis component: If you could ignore the matching principle, how could you record the purchase of the boat? What impact would this have on the financial statements in the short and long term? Chapter 12 Property, Plant and Equipment and Intangibles Malaspina Touring Company runs boat tours along the west coast of British Columbia. It pur- Problem 12-3A chased on March 5, 2011, for cash of $690,000, a cruising boat with a useful life of 10 years or Calculating depreciation 15,25 hours with a residual value of $160,000. The company's year-end is December 31. partial periods Required LO2. 3 Calculate depreciation expense for the fiscal years 2011, 2012, and 2013 by completing a Check figure schedule with the following headings (round to the nearest whole dollar): DDB 2013 - 392,000 Depreciation Method excel Year Straight-Line Double-Declining-Balance Units-of-Production? Depreciation is calculated to the nearest month. 2 Assume actual hours of service were: 2011, 720, 2012, 1,780; 2013, 1,535. Analysis component: If you could ignore the matching principle, how could you record the purchase of the boat? What impact would this have on the financial statements in the short and long term