Problem 9-7A Calculating depreciation LO2 Use the following table: $ 690,000 Big Sky Farms Partial Balance sheet April 30, 2020 Property, plant and equipment: Land Building Less: Accumulated depreciation Equipment? Less: Accumulated depreciation Total property, plant and equipment 212,000 $795,000 583,000 530,000 224, 720 305, 280 $1,207,280 'The building was purchased on May 3, 2009, and is depreciated to the nearest whole month using the straight line method. Depreciation is based on a 15-year life, after which it will be demolished and replaced with a new one. 2 The equipment was purchased on November 3, 2017, and is depreciated to the nearest whole month using the double-declining balance method. The total estimated useful life is 10 years with a residual value of $200,000 Required: 1. Calculate and record depreciation for the year just ended April 30, 2021, for both the building and equipment Journal entry worksheet 1 2 Record the depreciation for the building, for the year ended April 30, 2021. Note: Enter debits before credits. Date Credit Debit General Journal Apr. 30, 2021 Record entry Clear entry View general journal Journal entry worksheet