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The fixed asset subsidiary ledger showed the following for The Federation Company as of December 31, 2021 ($ in 000's): Purchase Date Description Cost Useful

The fixed asset subsidiary ledger showed the following for The Federation Company as of December 31, 2021 ($ in 000's):

Purchase Date Description Cost Useful Life Accumulated Depreciation Salvage Value
Jan 1, 2020 Star Ship Enterprise 1,000.00 20 90.00 100.00
July 1, 2020 Star Ship Excalibur 1,500.00 20 101.25 150.00
October 1, 2020 Star Ship Lexington 1,750.00 20 98.44 175.00
Total 4,250.00 289.69

The company uses straight line depreciation.

During 2022, the following transactions occurred related to the star ships fixed assets:

April 1, 2022: Purchased a new star ship, the Intrepid, for $2,000.00 by paying $1,800.00 in cash and issuing a 2-year, 6% note payable for $200.00. Interest is payable on the due date of the note. Useful life of the Intrepid is 20 years with a salvage value of $200.00.

September 1, 2022: On this date, the star ship Excalibur was lost when it wondered into the neutral zone. The Romulans returned the entire crew unharmed, but kept the star ship, Excalibur. The Federation had no choice but to write off the asset.

What was the value of the loss, if any, for the Sept 1, 2022 transaction (round to 2 decimal points.)?

What was the depreciation expense recorded on December 31, 2022 (round to 2 decimal points.)?

What was the net book value of the Federations' star ships (fixed assets) at December 31, 2022 (round to 2 decimal points)?

As of December 31, 2022, what was the interest expense for the Note Payable dated April 1, 2022 (round to 2 decimal points)?

If double declining depreciation method was used for only the Intrepid, as of December 31, 2022, what would the depreciation expense have been for the Intrepid (round to 2 decimal points)?

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