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Question 1 of 4 1.5/21 ITE Current Attemptin Progress Bramble Corporation purchased a new plant asset on April 1, 2020, at a cost of $870,000.

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Question 1 of 4 1.5/21 ITE Current Attemptin Progress Bramble Corporation purchased a new plant asset on April 1, 2020, at a cost of $870,000. It was estimated to have a useful life of 20 years and a residual value of $330,000, a physical life of 30 years, and a salvage value of $0. Bramble's accounting period is the calendar year. Bramble prepares financial statements in accordance with IFRS. Part 1 Your answer is partially correct. Calculate the depreciation for this asset for 2020 and 2021 using the straight-line method. (Round answers to decimal places, eg. 5,275.) Depreciation $ 2020 27000 2021 $ 27000 e Textbook and Media Attempts: 3 of 3 used o RE 1 9 Question 1 of 4 1.5/21 Partz Your answer is incorrect. Calculate the depreciation for this asset for 2020 and 2021 using the double-declining-balance method. (Round answers to o decimal places, eg: 5,275.) Depreciation 2020 S 2021 $ e Textbook and Media Save for Later Attempts: 2 of 3 used Submit Answer Question Part Score 0/3 Part 3 Calculate the depreciation for this asset for 2020 and 2021 using the straight-line method and assuming Bramble prepares Question 1 of 4 1.5/21 !!! Part 3 Calculate the depreciation for this asset for 2020 and 2021 using the straight-line method and assuming Bramble prepares financial statements in accordance with ASPE. (Do not round intermediate calculations and round answers to 0 decimal places, eg. 5,275.) Depreciation 2020 $ 2021 S e Textbook and Media Attempts:0 of 3 used Submit Answer Save for Later Question Part Score Part 4 i Question 1 of 4 1.5/21 Part 4 Assume that additional information has been provided relating to the cost ($870,000). There are three components of the plant asset. Components 1, 2 and 3 have costs of $370,000, $256,000, and $244,000, respectively. The useful lives of components 1. 2, and 3 are 25, 20, and 30 years, respectively. Determine straight-line depreciation expense for 2020 and 2021 for each component under IFRS if the residual value is $100,000 for component 1. $124,000 for component 2 and $106,000 for component 3. (Do not round intermediate calculations and round answers to decimal places, eg. 5,275.) Depreciation expense 2020 $ 2021 $ Component 1 $ Component 2 $ S Component 3 $ BeTextbook and Media Attempts: 0 of 3 used Submit Answer Sove for Late Question Part Score

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