Amber and Zack Wilson are continuing to review business practices. Currently, they are reviewing the company's property, plant, and equipment and have gathered the following information:

Requirements
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.

Transcribed Image Text:

Monthly Estimated Residual Depreciation Depreciation Estimated Acquisition Date Life Value Method* Asset Cost Expense 4 years $ 100 Nov. 3, 2018 Canoes $4,800 SL Land Dec. 1, 2018 85,000 n/a Building Dec. 1, 2018 35,000 5 years 5,000 SL 500 7,200 4 years Canoes Dec. 2, 2018 SL 150 З уears 3,600 Computer Mar. 2, 2019 300 DDB Office Furniture Mar. 3, 2019 5 years 3,000 600 SL