Question 2 [9 points]

At December 31, 2013 ABC Inc.'s balance sheet showed plant and equipment information as detailed in the schedule below. ABC Inc. calculates depreciation to the nearest whole month.

Question 2 [9 points] At December 31, 2013 ABC Inc.'s balance sheet showed plant and equipment information as detailed in the schedule below. ABC Inc. calculates depreciation to the nearest whole month. Please complete the schedule. Round depreciation per unit of production to the nearest cent. Cost Information Depreciation Accum. Dep. Dep. Expense Accum. Dep. Description Purchase Date Depreciation Method Cost Residual Life Dec. 31, 2013 for 2014 Dec. 31, 2014 Equipment November 1, 2011 Straight-line 286,000 10,000 1 Machinery November 3, 2013 Double-declining 102,000 10,000 5 years balance Units of production 209,800 10,000 666,000 km Trucks September 4, 2012 10 years There have been no disposals or subsequent capital expenditures on the asset since the date of purchase. The kilometres the truck was actually driven were as follows: 2012: 177,000 2013: 172,000 2014 : 109,000 For simplicity, assume that the asset is depreciated as an individual item and will not be broken down into parts and depreciated