Question

Can You Please put together the building depreciation schedule?
PLANNED ASSET ACQUISITIONS
Reminder that the company’s fiscal year is July 1 through June 30.
Asset	Cost	Useful life	Salvage Value	Depreciation Method	Purchase Date
Land	500,000	N/A	N/A	N/A	1-Jul-21
Building	490,500	30	40,500	Straight line	1-Jul-21
Office Equipment	479,500	3	14,500	Straight line	1-Nov-21
Delivery Equipment	550,000	5	20,000	production	1-Feb-22
Additional information related to the $550,000 delivery equipment purchase: It is ESTIMATED that the equipment will be ABLE TO DRIVE 250,000 total miles over its lifetime. To complete the depreciation schedule, PRESUME that the actual miles driven for its useful life are as indicated below. Also, round depreciation expense per unit to the nearest cent and depreciation expense to the nearest dollar.
	Year 1	32,500
	Year 2	56,800
	Year 3	55,950
	Year 4	52,600
	Year 5	56,500
Building Depreciation Schedule
		Depreciation for the Year
	Asset	Dep'ble		Depreciation	Accumulated	Book
Date	Cost	basis	Rate	Expense	Depreciation	Value
1/0/00
6/30/22
6/30/23
6/30/24
6/30/25
Office Equipment Depreciation Schedule
		Depreciation for the Year
	Asset	Dep'ble		Depreciation	Accumulated	Book
Date	Cost	basis	Rate	Expense	Depreciation	Value
1/0/00
6/30/22
6/30/23
6/30/24
6/30/25
Delivery Equipment Depreciation Schedule
		Depreciation for the Year
		Depreciation
	Asset	per unit	Units of	Depreciation	Accumulated	Book
Date	Cost		Production	Expense	Depreciation	Value
1/0/00
6/30/22
6/30/23
6/30/24
6/30/25
6/30/26

Answer 1

Solution 1:

Depreciation Schedule - SLM - Building
Date	Asset Cost	Depreciable Cost	Rate	Depreciation Expense for the year (1/30 of depreciable cost)	Accumulated Depreciation	Book Value
1-Jul	$490,500.00
30-Jun-22		$450,000.00	3.33%	$15,000.00	$15,000.00	$475,500.00
30-Jun-23		$450,000.00	3.33%	$15,000.00	$30,000.00	$460,500.00
30-Jun-24		$450,000.00	3.33%	$15,000.00	$45,000.00	$445,500.00
30-Jun-25		$450,000.00	3.33%	$15,000.00	$60,000.00	$430,500.00
Total				$60,000.00

Solution 2:

Depreciation Schedule - SLM - Office equipment
Date	Asset Cost	Depreciable Cost	Rate	Depreciation Expense for the year	Accumulated Depreciation	Book Value
1-Nov-21	$479,500.00
30-Jun-22		$465,000.00	33.33%	$103,333	$103,333	$376,167
30-Jun-23		$465,000.00	33.33%	$155,000	$258,333	$221,167
30-Jun-24		$465,000.00	33.33%	$155,000	$413,333	$66,167
30-Jun-25		$465,000.00	33.33%	$51,667	$465,000	$14,500
Total				$465,000.00

Solution 3:

Cost of delivery equipment = $550,000

Salavage value = $20,000

Depreciable cost = $550,000 - $20,000 = $530,000

useful life = 250000 miles

Depreciation rate per mile = $530,000 / 250000 = $2.12 per mile

Depreciation Schedule - Unit of Activity
Date	Asset Cost	Depreciation per unit	units of production	Depreciation Expense for the year	Accumulated Depreciation	Book Value
1-Feb-22	$550,000.00
30-Jun-22		$2.12	32500	$68,900.00	$68,900.00	$481,100.00
30-Jun-23		$2.12	56800	$120,416.00	$189,316.00	$360,684.00
30-Jun-24		$2.12	55950	$118,614.00	$307,930.00	$242,070.00
30-Jun-25		$2.12	52600	$111,512.00	$419,442.00	$130,558.00
30-Jun-26		$2.12	56500	$110,558.00	$530,000.00	$20,000.00