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please provide step by step calculations At December 31, 2019, Dynamic Exploration's balance sheet showed total PPE assets of $831,200 and total accumulated depreciation of
please provide step by step calculations
At December 31, 2019, Dynamic Exploration's balance sheet showed total PPE assets of $831,200 and total accumulated depreciation of $353,578 as detailed in the PPE Subledger below. Dynamic calculates depreciation to the nearest whole month. Description Building Modular Furniture Truck Date of Purchase May 2, 2014 May 2, 2014 Jan 25, 2017 Cost Information Depreciation Method S/L S/L DOB Assets Current assets Property, plant and equipment: Furniture Less: Accumulated depreciation Building Less: Accumulated depreciation Truck DYNAMIC EXPLORATION Partial Balance Sheet December 31, 2019 Less: Accumulated depreciation Total property, plant and equipment Total assets Life Residual Cont2 $670,000 $260,000 10 YE 0 6 YF. YE S/L-Straight-Line: DDB-Double-Declining-Balance. 2 There have been no disposals or subsequent capital expenditures since the date of purchase. 79,200 82,000 Assume that the only other assets at December 31, 2019, were total current assets of $340,000. Prepare the asset section of Dynamic Exploration's classified balance sheet at December 31, 2019. 11,000 $ $ Depreciation Balance of Accum. Deprec Dec. 31. 2029 $232,333 74,800 46,445 0 0 Step by Step Solution
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