Question: At December 31, 2013 Stake Technology Inc.'s balance sheet showed plant and equipment information as detailed in the schedule below. Stake Technology Inc. calculates depreciation
At December 31, 2013 Stake Technology Inc.'s balance sheet showed plant and equipment information as detailed in the schedule below. Stake Technology Inc. calculates depreciation to the nearest whole month. Please complete the schedule. Round depreciation per unit of production to the nearest cent.
Cost InformationDepreciationDescriptionPurchase DateDepreciation MethodCostResidualLife
Accum. Dep. Dec. 31, 2013
Dep. Expense for 2014
Accum. Dep. Dec. 31, 2014
TrucksMay 2, 2012
Units of production
184,50010,000698,000 km
There have been no disposals or subsequent capital expenditures on the asset since the date of purchase. The kilometres the truck was actually driven were as follows:
| 2012 : | 146,000 |
| 2013 : | 235,000 |
| 2014 : | 209,000 |
At December 31, 2013 Stake Technology Inc.'s balance sheet showed plant and equipment information as detailed in the schedule below. Stake Technology Inc. calculates depreciation to the nearest whole month. Please complete the schedule. Round depreciation per unit of production to the nearest cent. Cost Information Depreciation Accum. Dep. Dec. Dep. Expense Accum. Dep. Dec. Description Purchase Date Depreciation Method Cost Residual Life 31, 2013 for 2014 31, 2014 May 2, 2012 Units of production 184,500 10.000 698,000 km Trucks There have been no disposals or subsequent capital expenditures on the asset since the date of purchase The kilometres the truck was actually driven were as follows: 2012: 146,000 2013 : 235,000 2014 : 209,000 For simplicity, assume that the asset is depreciated as an individual item and will not be broken down into parts and depreciated
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