Problem 9-7A Calculating depreciation LO2 Use the following table the Sky Farms Partial Balance sheet A 30. 2020 Property, plant and equipment Land tullding? Less Accumulated depreciation Equipment? Lesst Accumulated depreciation Total property, plant and equipment $870,000 638,000 580, 245,920 $440,000 232,000 $1,306,080 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 $250,000. Required: 1. Calculate and record depreciation for the year just ended April 30, 2021, for both the building and equipment, 1. Calculate and record depreciation for the year just ended April 30, 2021, for both the building and equipment 1 View transaction tist Journal entry worksheet 2 Record the depreciation for the building, for the year ended Apell 30, 2021. fences Note: Enter debits before credits General Journal Del Credit Apr 30, 2021 Record entry Clear entry View general journal 2 Prepare the property, plant, and equipment section of the balance sheet at April 30, 2021 (Enter all amounts os positive values.) Property, plant and equipment Land Building Equipment Total property, plant and equipment