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West Coast Tours runs boat tours along the west coast of British Columbia. On March 5, 2017, it purchased, with cash, a cruising boat for
West Coast Tours runs boat tours along the west coast of British Columbia. On March 5, 2017, it purchased, with cash, a cruising boat for $894,000, having a useful life of 10 years or 16,725 hours with a residual value of $225,000. The companys year-end is December 31. Required: Calculate depreciation expense for the fiscal years 2017, 2018, and 2019 by completing a schedule. (Note: Depreciation is calculated to the nearest month. Assume actual hours of service were: 2017, 830; 2018, 1,890; 2019, 1,645.)
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