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Could you please explain the solution of this question. I would be grateful if you included the documents as well.? Refer to the information in

Could you please explain the solution of this question. I would be grateful if you included the documents as well.?

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Refer to the information in Problem 9-5A. Redo the question assuming that depreciation for partial periods is calculated using the half-year convention. Problem 9-7A Calculating depreciation LO2 CHECK FIGURES: 1. Dr. Depreciation Expense, Building $53,000. 1. Dr. Depreciation Expense, Equipment $77,184. 2. Total PPE = $1,144,736 Big Sky Farms Partial Balance Sheet April 30, 2020 Property, plant and equipment: Land ........ $ 730,000 Building .... $742,000 Less: Accumulated depreciation ........... 583,000 159,000 Equipment ...... . ..... 670,000 Less: Accumulated depreciation ............ 284,080 385,920 Total property, plant and equipment.. $1,274,920 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 14-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 us- ing 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 equipment. 2. Prepare the property, plant, and equipment section of the balance sheet at April 30, 2021. Problem 9-8A PPE costs; partial year's depreciation; alternative methods LO1, 2, 3

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