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https://ezto.mheducation.com/ext/map/index.htm ssignment 9- Ch 91 2 Saved At December 31, 2019, Dynamic Exploration's balance sheet showed total PPE assets of $962,600 and total accumulated
https://ezto.mheducation.com/ext/map/index.htm ssignment 9- Ch 91 2 Saved At December 31, 2019, Dynamic Exploration's balance sheet showed total PPE assets of $962,600 and total accumulated depreciation of $414,776 as detailed in the PPE Subledger below. Dynamic calculates depreciation to the nearest whole month. Cost Information Depreciation Balance of Accum. Deprec. Dec. 31, 2019 10 points Description Building Date of Purchase Depreciation1 Method Modular Furniture Truck May 2, 2014 May 2, 2014 Jan. 25, 2017 S/L S/L DDB Cost2 Residual $760,000 $305,000 111,600 91,000 0 Life 10 yr. 6 yr. 15,500 8 yr. Skipped 1S/L-Straight-Line: DDB-Double-Declining-Balance. Print 2 There have been no disposals or subsequent capital expenditures since the date of purchase. Mc $257,833 105,400 51,543 Assume that the only other assets at December 31, 2019, were total current assets of $349,000. Prepare the asset section of Dynamic Exploration's classified balance sheet at December 31, 2019. DYNAMIC EXPLORATION Partial Balance Sheet Assets Current assets + Property, plant and equipment Furniture Less Accumulated depreciation Building Less Accumulated depreciation Truck Less Accumulated depreciation December 31, 2019 Prev 2 Next>
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