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Requirement 2. For each asset determine the book value as of December 31, 2018. Then, calculate the depreciation expense for the first six months of
Requirement 2. For each asset determine the book value as of December 31, 2018. Then, calculate the depreciation expense for the first six months of 2019 and the book value as of June 30, 2019 2019 Begin by completing the table by entering the amounts for 2018 for the assets placed in service during 2018. In the following step we will complete the table for the first six months of 2019 for all assets placed in service prior to June 30, 2019. (Complete all answer boxes. Enter a "Ofor any zero balances. Abbreviations used: Accum. = Accumulated: Depr. = Depreciation, Exp. = Expense) Accum. Book 2019 Accum. Book 2018 Depr. Value Depr. Exp. Depr. Value Acquisition Depr. Dec. 31. Dec. 31, Through Jun. 30. Jun. 30. Asset Date Cost Expense 2018 2018 Jun. 30 2019 Canoes Nov. 3, 2018 $ 7,200 $ 300 $ 300 $ 6.900 Land Dec. 1. 2018 115,000 0 0 115.000 Building Dec. 1, 2018 164,000 800 800 163,200 Canoes Dec. 2. 2018 6.720 140 140 6,580 Computer Mar 2, 2019 Office Furniture Mar 3, 2019 1,900 4,950 Enter any number in the edit fields and then click Check Answer prorate depreciation based on the number of days in service.) Data Table - X Acquisition Date Estimated Residual Value Monthly Depreciation Expense Depreciation Method Asset Cost Estimated Life Canoes Nov 3, 2018 $ 4 years SL $ 150 Land Dec. 1. 2018 n/a Building 7,200 115,000 164,000 6,720 4,950 15 years 20,000 SL 800 Canoes SL Dec. 1. 2018 Dec. 2. 2018 Mar 2, 2019 Mar. 3, 2019 140 4 years 3 years 5 years 1,300 Computer Office Furniture DDB 1,900 700 SL * SL = Straight-line: DDB = Double-declining-balance Print Done
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