h. Record Depreciation on Tangible Assets

Depreciation of the tangible (fixed) assets is calculated on an annual basis using the straight-line method. Other than the leased asset in g, there were NO purchases or sales of assets during the year.

In the Excel spreadsheet, see the tab labelled Fixed Assets to perform depreciation calculations.

						Accumulated	Depreciation	Accumulated
	Asset		Acquisition	Useful		Depreciation	Expense	Depreciation	Adjustments
Category	Number	Description	Date	Life (Yrs)	Cost	to 12/31/Y5	Y6	to 12/31/Y6	to 12/31/Y6	NBV
Land		1 acre - 11th Line	05/31/Y4		525,000.00	-
		401 Main Street	09/01/Y3		355,000.00	-
		.5 acre 402 Main Street	09/01/Y3		20,000.00	-
					900,000.00	-	-	-	-	-
Building
	2015-01	401 Main Street	09/01/Y3	40	2,055,000.00	873,375.00
	2015-09	410 Main Street	02/1/Y4	40	150,000.00	63,375.00
	2016-09	406 Main Street	08/1/Y4	40	945,000.00	363,825.00
					3,150,000.00	1,300,575.00	-	-	-	-
Equipment
	Y4-02	2013 Ford F150 Truck	02/01/Y4	6	12,500.00	10,069.44
	Y4-03	2014 Dodge Ram Truck	03/31/Y4	6	15,600.00	10,833.33
	Y4-04	Toro lawn mower	06/30/Y4	4	2,300.00	1,437.50
	Y4-05	2007 John Deere Excavator	09/01/Y4	12	25,000.00	4,861.11
	Y4-06	2009 Cat Backhoe	09/01/Y4	12	12,300.00	2,391.67
	Y4-07	2004 Case Tractor	10/01/Y4	12	9,800.00	1,837.50
	Y4-08	3 wagons	10/01/Y4	4	3,000.00	1,687.50
	Y5-10	2018 Chev Truck	03/01/Y5	6	35,600.00	10,877.78
	Y5-11	2010 Toyota Tundra	05/31/Y5	6	18,750.00	4,947.92
	Y5-12	2017 Kenworth	07/31/Y5	6	225,500.00	53,243.06
	Y5-13	2015 Loader	08/01/Y5	12	18,165.00	2,144.48
	Y5-14	1996 Grader	12/01/Y5	12	7,200.00	650.00
	Y5-15	Flat-bed Trailer	12/01/Y5	12	12,300.00	1,110.42
					398,015.00	106,091.70	-	-	-	-
Right of Use Asset
	Leased Machine		PV
		TOTAL			$ 4,448,015.00	$ 1,406,666.70	$ -	$ -	$ -	$ -

make any required calculations and prepare journal entries