Question: please full calculation and explanation On July 2, 2019, Vicuna Inc. purchased equipment. Vicuna has a policy of calculating and recording depreciation for the portion

 please full calculation and explanation On July 2, 2019, Vicuna Inc.

please full calculation and explanation

On July 2, 2019, Vicuna Inc. purchased equipment. Vicuna has a policy of calculating and recording depreciation for the portion of the year the asset is used. Vicuna has a December 31 year end. Other information pertaining to the new equipment follows: Cost of equipment $ 720,491 Residual value (at end of 6-year useful life) $ 28,820 Salvage value (at end of 7-year physical life) $ 7,205 Vicuna depreciates its capital assets based on the number of months in the current year in which the asset is owned REQUIRED: A. Assume that Vicuna follows IFRS. a) Determine the 2019 and 2020 depreciation expense assuming the straight-line method is used. b) Determine the 2019 and 2020 depreciation expense assuming the double-declining- balance method is used. B. Assume that Vicuna follows ASPE. Determine the 2019 and 2020 depreciation expense assuming that the straight-line method is chosen

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