Required:

Calculate and record depreciation for the year just ended April 30, 2021, for both the building and equipment. 

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Use the following table: Big Sky Farms Partial Balance Sheet April 30, 2020 Property, plant and equipment: Land $ 650,000 Building! Less: Accumulated depreciation 5975,000 715,000 260,000 Equipment? Less: Accumulated depreciation 758, 000 318, 000 432,000 Total property, plant and equipment $1,342,000 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. 2The 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 lfe is 10 years with a residual value of $250.000. Use the following table: Big Sky Farms Partial Balance Sheet April 30, 2020 Property, plant and equipment: Land $ 650,000 Building! Less: Accumulated depreciation 5975,000 715,000 260,000 Equipment? Less: Accumulated depreciation 758, 000 318, 000 432,000 Total property, plant and equipment $1,342,000 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. 2The 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 lfe is 10 years with a residual value of $250.000.

Answer rating: 100% (QA)

Given data For the year ended April 30 2021 the depreciation as per SLM method is 97500... View the full answer