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West Coast Tours runs boat tours along the West Coast of British Columbia. On March 5, 2020, it purchased, with cash, a cruising boat for
West Coast Tours runs boat tours along the West Coast of British Columbia. On March 5, 2020, it purchased, with cash, a cruising boat for $828,000, having a useful life of 10 years or 13.250 hours, with a residual value of $192,000. The company's year-end is December 31. Required: Calculate depreciation expense for the fiscal years 2020, 2021. and 2022 by completing a schedule. (Note: Depreciation is calculated using half year convention. Assume actual hours of service were: 2020,720: 2021. 1780: 2022. 1.535.) Answer is complete but not entirely correct. Year Depreciation Method Double Units-of- Straight-Line Declining Production Balance S 53,000 Xs 137,945 X $ 34,580 IS 63.600ls 138.011 Xs 85,440 S 63,800 110.400 X $ 73,680 2020 2021 2022 an
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