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Pearl Industries Ltd., a public company, presents you with the following information: (a) Complete the table for the year ended December 31, 2024. The company
Pearl Industries Ltd., a public company, presents you with the following information: (a) Complete the table for the year ended December 31, 2024. The company depreciates all assets for a half year in the year of acquisition and the year of disposal. (Round answers to 0 decimal places, e.g. 5,275.)
Description | Date Purchased | Cost | Residual Value | Life in Years | Depreciation Method | Accumulated Depreciation to Dec. 31, 2023 | Depreciation for 2024 | |||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Machine A | Dec. 2, 2022 | $150,000 | $16,000 | 10 | select a method |
$42,000 | $enter a dollar amount | |||||||||||||
Machine B | Aug. 15, 2021 | enter a dollar amount | 21,000 | 5 | Straight-line | 29,500 | enter a dollar amount | |||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Machine C | July 21, 2020 | 72,800 | 24,000 | 8 | Double-declining-balance | enter a dollar amount | enter a dollar amount |
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