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P10-43 Calculating and journalizing partial-year depreciation This problem continues the Canyon Canoe Company situation from Chapter 9. Amber Wilson is continuing to review business practices.
P10-43 Calculating and journalizing partial-year depreciation This problem continues the Canyon Canoe Company situation from Chapter 9. Amber Wilson is continuing to review business practices. Currently, she is reviewing the company's property; plant, and equipment and has gathered the following information: Asset Acquisition Date Cost Estimated Life Estimated Residual Value Depreciation Method* Monthly Depreciation Expense Canoes Nov. 3,2018 $4,800 4 years $ SL $100 Land Dec. 1, 2018 85,000 n//a Building Dec. 1, 2018 35,000 5 years 5,000 SL 500 Canoes Dec. 2, 2018 7,200 4 years 0 SL 150 Computer Mar. 2, 2019 3,600 3 years 300 DDB Office Furniture Mar. 3, 2019 3,000 5 years 600 SL *SL = Straight-line; DDB= Double-declining-balance Requirements Calculate the
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