P10-43 Calculating and journalizing partial-year depreciation This problem continues the Canyon Canoe Company situation from Chapter 9. Amber Wilson is continuing to review business practices. Currently, she is reviewing the company's property, plant, and equipment and has gathered the following information: Estimated Monthly Acquisition Estimated Residual Depreciation Depreciation Asset Date Cost Life Value Method* Expense Canoes Nov. 3, 2018 $ 4,800 4 years $ 0 SL $ 100 Land Dec. 1, 2018 85,000 n/a Building Dec. 1, 2018 35,000 5 years 5,000 SL 500 Canoes Dec. 2, 2018 7,200 4 years 0 SL 150 Computer Mar. 2, 2019 3,600 3 years 300 DDB Office Furniture Mar. 3, 2019 3,000 5 years 600 SL "SL = Straight-line, DDB = Double-declining-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