Question

At December 31, 2013, Oroplata Exploration’s balance sheet showed total PPE assets of $802,000 and total accumulated depreciation of $339,980 as detailed in the PPE Subledger below. Oroplata calculates depreciation to the nearest whole month.


1 S/L—Straight-Line; DDB—Double-Declining-Balance
2 There have been no disposals or subsequent capital expenditures since the date of purchase.

Required
Complete the schedule by calculating depreciation expense for 2014 for each asset and then determining the balance of accumulated depreciation at December 31, 2014 (round to the nearest whole dollar).

Analysis Component: The depreciation methods used by Oroplata are not consistent between the building, modular furniture, and truck. Is this in accordance with GAAP? Explain why or whynot.


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  • CreatedJanuary 08, 2015
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