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West Coast Tours run boat tours along the west coast in British Columbia. On March 5, 2020, it purchased, with cash, a cruising boat for
West Coast Tours run boat tours along the west coast in British Columbia. On March 5, 2020, it purchased, with cash, a cruising boat for $834,000- having a useful life of 10 yrs or 21,300 hrs, with a residual value of $195,000. The companys year-end is December 31, 2020. Calculate: Calculate depreciation expense for the fiscal years 2020, 2021, and 2022 by completing a schedule.* Depreciation is calculated to the nearest month. Assume actual hours of service were: 2020, 730- 2021, 1,790- 2022, 1,545)
Year | Straight line | Double- Declining Balance | Units of Production |
---|---|---|---|
2020 | |||
2021 | |||
2022 |
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