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Required: For each asset classification, prepare a schedule showing depreciation for the year ended December 31, 2021, using the following depreciation methods and useful lives:
Required: For each asset classification, prepare a schedule showing depreciation for the year ended December 31, 2021, using the following depreciation methods and useful lives: Land improvementsStraight line; 15 years. Building150% declining balance; 20 years. Equipment Straight line; 10 years. AutomobilesUnits-of-production; $0.50 per mile Depreciation is computed to the nearest month and no residual values are used. Automobiles were driven 34,000 miles in 2021. (Do not round intermediate calculations and round your final answers to 2 decimal places.) 11,200.00 PELL CORPORATION Depreciation For the Year Ended December 31, 2021 Land Improvements $ Building Equipment Automobiles Total depreciation for 2021 $ 17,000.00 28,200.00
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