Chapter Problem 9-7A Calculating depreciation LO2 23 Use the following the . til at 0.00 Frent.lt die Accm wat Acumulatoration Totalt plaan 11.00 20. $1,5 The building was purchased on May 31 2009, and is deprecated to the nearest Whole month the line method Depreciation is based on a 18 year life after which it will be demolished and replaced with new one The equipment was purchased on November 3, 2017 and is deprecated to the newest whole anothing the double deciring balance method. The total estimated useful 10 years with a residual value of $200.000 Required 1. Calculate and record depreciation for the year just ended Apr 20, 2021, for both the building and equipment 23 View transaction ist Journal entry worksheet 1 2 > Record the depreciation for the building, for the year ended April 30, 2021 tant dette bet General Journal Debit Credit Date Apr 30 2021 Record entry Clear entry View general jouma Pray 23 of 28 Next > 2. Prepare the property, plant, and equipment section of the balance sheet at April 30, 2021. (Enter all amounts os positive values.) mic BIG SKY FARMS Partial Balance Sheet April 30, 2021 Property, plant and equipment Land Building 0 Equipment 0 Total property, plant and equipment $ 0 Problem 9-7A Calculating depreciation LO2 Use the following table: $ 700,000 Big Sky Farms Partial Balance Sheet April 30, 2020 Property, plant and equipment: Land Building? Less: Accumulated depreciation Equipment Less: Accumulated depreciation Total property, plant and equipment 315,000 $810,000 495,000 540,000 228,960 311, 040 $1,326, 040 'The 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 18 year life, after which it will be demolished and replaced with a new one. The 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 $200,000. Required: 1. Calculate and record depreciation for the year just ended April 30, 2021, for both the building and equipnlent. Record the depreciation for the building, for the year ended April 30, 2021. Note: Enter debits before credits. Date General Journal Debit Credit Apr 30, 2021 Record entry Clear entry View general journal 2. Prepare the property, plant, and equipment section of the balance sheet at April 30, 2021. (Enter all amounts as positive values.) BIG SKY FARMS Partial Balance Sheet April 30, 2021 Property, plant and equipment Land Building 0 Equipment 0 Total property, plant and equipment $ 0