In: Accounting
Pearl Industries Ltd., a public company, presents you with the
following information:
(a)
Complete the table for the year ended December 31, 2024. The
company depreciates all assets for a half year in the year of
acquisition and the year of disposal. (Round answers to
0 decimal places, e.g. 5,275.)
Description | Date Purchased |
Cost | Residual Value |
Life in Years |
Depreciation Method |
Accumulated Depreciation to Dec. 31, 2023 |
Depreciation for 2024 |
|||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Machine A |
Dec. 2, 2022 |
$150,000 | $16,000 | 10 | select a method |
$42,000 | $enter a dollar amount | |||||||||||||
Machine B |
Aug. 15, 2021 |
enter a dollar amount | 21,000 | 5 | Straight-line | 29,500 | enter a dollar amount | |||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Machine C |
July 21, 2020 |
72,800 | 24,000 | 8 | Double-declining-balance | enter a dollar amount | enter a dollar amount |