Depreciation expense for 2020 8. The net book value (NBV) and undepreciated capital cost (UCC) for the capital assets are as follows:NBVUCCLandBuildingsFurniture and fixturesMachinery and equipmentLeasehold improvements20202019$ 1,250,000 $1,250,0002020n/a4,500,750 4,650,775 $2,767,211 $ 3,255,543650,000693,333412,533485,33312,567,000 13,404,8007,975,8569,383,3602,456,000 2,701,600 1,607,452 1,891,120$21,423,750 $22,700,508 $12,763,052 $15,015,3562019n/a9. There were no capital asset additions or dispositions during the year.

Depreciation charges on fixed assets except land . Leasehold improvement shall amortization over the…

Land Buildings Furniture and fixtures NBV 2020 2019 $1,250,000 $1,250,000 4,500,750 650,000 2020 n/a 4,650,775 $2,767,211 $ 3,255,543 693,333 412,533 485,333 7,975,856 9,383,360 1,607,452 1,891,120 Machinery and equipment 12,567,000 13,404,800 Leasehold improvements 2,456,000 2,701,600 UCC 9. There were no capital asset additions or dispositions during the year. 2019 n/a $21,423,750 $22,700,508 $12,763,052 $15,015,356

Land Buildings Furniture and fixtures NBV 2020 2019 $1,250,000 $1,250,000 4,500,750 650,000 2020 n/a 4,650,775 $2,767,211 $ 3,255,543 693,333 412,533 485,333 7,975,856 9,383,360 1,607,452 1,891,120 Machinery and equipment 12,567,000 13,404,800 Leasehold improvements 2,456,000 2,701,600 UCC 9. There were no capital asset additions or dispositions during the year. 2019 n/a $21,423,750 $22,700,508 $12,763,052 $15,015,356

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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