Plant and equipment to be depreciated are composed of the following: Assets Date Acquired Cost Estimated Usage or Life Salvage Value Depreciation

Method

Building 7/1/10 $306,000 25 years $20,000 sum-of-the-years digits

Truck No. 1 4/1/11 28,000 60,000 miles 3,100 miles driven

Truck No. 2 9/1/13 33,000 60,000 miles 4,200 miles driven

Lift No. 1 8/17/07 7,900 10 years 900 straight-line

(Sold 12/31/14)

Lift No. 2 3/29/11 4,500 10 years 500 straight-line

Lift No. 3 9/16/12 5,000 10 years 500 straight-line

Office All prior to 32,800 7 years 2,000 straight-line

Equipment 1/1/14

Computer 12/22/14 6,100 5 years 1,300 Double-decling balance

Truck No. 1 has been driven 45,000 miles prior to 1/1/14 and truck No. 2 has been driven 30,500 miles prior to 1/1/14. During 2014 truck No. 1 was driven 12,000 miles and truck No. 2 was driven 14,000 miles. Remember that the Rockford Company takes a half-years depreciation in the year of acquisition and a half-year in the year of sale.