Question: Saved At December 31, 2019, Dynamic Exploration's balance sheet showed total PPE assets of $889,600 and total accumulated depreciation of $380,778 as detailed in

Saved At December 31, 2019, Dynamic Exploration's balance sheet showed total PPE

Saved At December 31, 2019, Dynamic Exploration's balance sheet showed total PPE assets of $889,600 and total accumulated depreciation of $380,778 as detailed in the PPE Subledger below. Dynamic calculates depreciation to the nearest whole month. Required: Complete the schedule by calculating depreciation expense for 2020 for each asset and then determining the balance of accumulated depreciation at December 31, 2020. (Do not round intermediate calculations and round the final answers to nearest whole dollar.) Cost Information Depreciation Balance of Description Date of Purchase Depreciation Method1 Cost2 Residual Life Accum. Deprec. Dec. 31, 2019 Depreciation Expense for 2020 Balance of Accum. Deprec. Dec. 31, 2020 Building Modular Furniture May 2, 2014 S/L $ 710,000 $ May 2, 2014 S/L Truck Jan 25, 2017 DDB 93,600 86,000 280,000 10 yr 06 yr $ 243,667 88,400 13,000 8 yr 48,711 1S/L-Straight-Line; DDB-Double-Declining-Balance. 2 There have been no disposals or betterments since the date of purchase.

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