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Tundra Tours runs tundra buggy expeditions in northern Manitoba for tourists to catch a glimpse of the abundant caribou, polar bears, and other wildlife. Tundra
Tundra Tours runs tundra buggy expeditions in northern Manitoba for tourists to catch a glimpse of the abundant caribou, polar bears, and other wildlife. Tundra purchased a tundra buggy on October 19, 2020, for cash of $145,000. Its estimated useful life is five years or 100,000 kilometres with a residual value estimated at $25,000. Tundra Tours' yearend is December 31. Required Calculate depreciation expense for each fiscal year of the asset's useful life by completing a schedule with the following headings (round calculations to the nearest whole dollar): Depreciation Method Year Straight-Line Double Declining-Balance Units-of-Production? Deprecation is calculated to the nearest month. 2 Assumes actual kilometres of use were 2020. 5.800:2021, 19,400 2022. 22,850, 2023, 25,700: 2024, 19.950, 2025. 14.500 Problem 9-6B Calculating depreciation-partial periods Lo2, 3 Refer to the information in Problem 9-5B. Redo the question assuming that depreciation for partial periods is calculated using the half- year convention EIE
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