1. Calculate the amount of monthly depreciation expense for the computer and office furniture for 2019....

  

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1. Calculate the amount of monthly depreciation expense for the computer and office furniture for 2019. 2. For each asset, determine the book value as of December 31, 2018. Then, calculate the depreciation expense for the first six months of 2019 and the book value as of June 30, 2019. 3. Prepare a partial balance sheet showing Property, Plant, and Equipment as of June 30, 2019. Data Table Estimated Acquisition Date Monthly Depreciation Expense Residual Depreciation Method* Asset Cost Estimated Life Value Canoes Νov 3,2018 $ 5,760 4 years SL 120 Land Dec. 1, 2018 85,000 n/a Building Dec. 1, 2018 136,000 10 years 16,000 SL 1,000 Canoes Dec. 2, 2018 6,720 4 years SL 140 Computer Mar. 2, 2019 7,200 4 years 1,400 DDB Office Furniture Mar. 3, 2019 3,380 8 years 500 SL * SL = Straight-line; DDB = Double-declining-balance Print Done Anya and Zander Waldon are continuing to review business practices. Currently, they are reviewing the company's property, plant, and equipment and have gathered the following information: E (Click the icon to view the information.) Read the reguirements Requirement 1. Calculate the amount of monthly depreciation expense for the computer and office furmiture for 2019. (Calculate a full month's depreciation. It is not necessary to prorate depreciation based on the number of days in service.) Estimated Year 1 - Monthly Acquisition Estimated Residual Depreciation Depreciation Asset Date Cost Life Value Method Expense Computer Mar. 2, 2019 7,200 4 years 1,400 DDB 300 Office Furniture Mar. 3, 2019 3,380 8 years 500 SL 30 Requirement 2. For each asset, determine the book value as of December 31, 2018. Then, calculate the depreciation expense for the first six months of 2019 and the book value as of June 30, 2019. Begin by completing the table by entering the amounts for 2018 for the assets placed in service during 2018. In the following step we will complete the table for the first six months of 2019 for all assets placed in service prior to June 30, 2019. Accum. Book 2018 Depr. Value Acquisition Depr. Dec. 31, Dec. 31, Asset Date Cost Expense 2018 2018 Canoes Nov. 3, 2018 $ 5,760 Land Dec. 1, 2018 85,000 Building Dec. 1, 2018 136,000 Canoes Dec. 2, 2018 6,720 Computer Mar. 2, 2019 7,200 Office Furniture Mar. 3, 2019 3,380 1. Calculate the amount of monthly depreciation expense for the computer and office furniture for 2019. 2. For each asset, determine the book value as of December 31, 2018. Then, calculate the depreciation expense for the first six months of 2019 and the book value as of June 30, 2019. 3. Prepare a partial balance sheet showing Property, Plant, and Equipment as of June 30, 2019. Data Table Estimated Acquisition Date Monthly Depreciation Expense Residual Depreciation Method* Asset Cost Estimated Life Value Canoes Νov 3,2018 $ 5,760 4 years SL 120 Land Dec. 1, 2018 85,000 n/a Building Dec. 1, 2018 136,000 10 years 16,000 SL 1,000 Canoes Dec. 2, 2018 6,720 4 years SL 140 Computer Mar. 2, 2019 7,200 4 years 1,400 DDB Office Furniture Mar. 3, 2019 3,380 8 years 500 SL * SL = Straight-line; DDB = Double-declining-balance Print Done Anya and Zander Waldon are continuing to review business practices. Currently, they are reviewing the company's property, plant, and equipment and have gathered the following information: E (Click the icon to view the information.) Read the reguirements Requirement 1. Calculate the amount of monthly depreciation expense for the computer and office furmiture for 2019. (Calculate a full month's depreciation. It is not necessary to prorate depreciation based on the number of days in service.) Estimated Year 1 - Monthly Acquisition Estimated Residual Depreciation Depreciation Asset Date Cost Life Value Method Expense Computer Mar. 2, 2019 7,200 4 years 1,400 DDB 300 Office Furniture Mar. 3, 2019 3,380 8 years 500 SL 30 Requirement 2. For each asset, determine the book value as of December 31, 2018. Then, calculate the depreciation expense for the first six months of 2019 and the book value as of June 30, 2019. Begin by completing the table by entering the amounts for 2018 for the assets placed in service during 2018. In the following step we will complete the table for the first six months of 2019 for all assets placed in service prior to June 30, 2019. Accum. Book 2018 Depr. Value Acquisition Depr. Dec. 31, Dec. 31, Asset Date Cost Expense 2018 2018 Canoes Nov. 3, 2018 $ 5,760 Land Dec. 1, 2018 85,000 Building Dec. 1, 2018 136,000 Canoes Dec. 2, 2018 6,720 Computer Mar. 2, 2019 7,200 Office Furniture Mar. 3, 2019 3,380

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Requirement 1 Monthly Depreciation expense for computer office furniture purchased on March 2019 Com... View the full answer