Continuing Problem P9-43 Calculating and journalizing partial-year depreciation This problem continues the Canyon Canoe Company situation from Chapter 8. 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: Monthly Estimated Residual Depreciation Depreciation Expense Estimated Acquisition Date Asset Cost Life Value Method* Canoes Nov. 3, 2018 $4,800 SL $100 4 years Land Dec. 1, 2018 85,000 n/a Building Dec. 1, 2018 35,000 5,000 SL 500 5 years Canoes Dec. 2, 2018 7,200 4 years SL 150 300 Mar. 2, 2019 Computer 3,600 3 years DDB Office Furniture Mar. 3, 2019 3,000 5 years 600 SL SL = Straight-line; DDB Double-decining-balance 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, calcu- late 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