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Ocean Fishers Ltd had a 22.foot fishing boat with an inboard motor that was purchased on April 9. 2009. for $121,500. The PPE Sub lodger

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Ocean Fishers Ltd had a 22.foot fishing boat with an inboard motor that was purchased on April 9. 2009. for $121,500. The PPE Sub lodger shows the following information regarding the boat Fishing Boat - 22 Foot Wohnboard Motor: Component Date of Depec Purchase Method Fibreglass body Apr. 9700 SL Apr 09 Cost 5 46.500 $9.000 Estule 15 y $121.500 On June 27, 2017. $81.000 cash was paid for a new motor to replace the old one, which was scrapped. The new motor had an estimated useful le of 12 years and a residual value of $6.000. Early in 2017, was determined that the useful We of the boat's fibreglass body should be adjusted to a total of 20 years with no change in the residual value Required: 1. Record the appropriate entries regarding the a. Purchase of the replacement motor on June 27, 2017. (If no entry is required transaction, select "No journal entry required in the first account field.) View transaction list Vien Journal entry worksheet Debit Credit No Date June 27, 2017 General Journal Depreciation expense Boat-Motor Accumulated depreciation Boot - Motor 3.750 June 27, 2017 Boat - Motor new Accurate de ration Boat Motor b. Depreciation taken on the fishing boat body plus motor) on December 31, 2017. The company's year-end of no entry is required for a transaction, select "No journal entry required in the first account field. Round the final answers to the nearest whole dollar) View transaction list Journal entry worksheet Record revised depreciation for 2017 on the boat (boat body plus motor) Nobener det before credits Debit Credit General Journal Dec 31, 2017 Depreciation expense Boa Record entry Clear entry 2. Calculate total depreciation taken on the fishing boat (body plus motor) for the company's year ended December 31, 2017 Round the final answers to the nearest whole dollar) 2017 depreciation

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