SEPT 2023 OCT 2022 Attractions Building & Equipment 35,255 33,798 Furniture fixtures & Equipment 26,358 24,409 Land Improvement 7,419 7,757 Lease 1,058 1,037 Total 70,090 66,998 Depreciation -42,610 -39,356 Question. Assume at beginning of 2023 half the cost of PPE and half the accumulated depreciation pertained to Equipment purchased 1 year ago. Equip. depreciated using lower limit. (2-3 years lifespan) straight method. Calculate depreciation expense, Accumulated depreciation and net book value for equipment at end of 2023.

SEPT 2023 OCT 2022 Attractions Building & Equipment 35,255 33,798 Furniture fixtures & Equipment 26,358 24,409 Land Improvement 7,419 7,757 Lease 1,058 1,037 Total 70,090 66,998 Depreciation -42,610 -39,356 Question. Assume at beginning of 2023 half the cost of PPE and half the accumulated depreciation pertained to Equipment purchased 1 year ago. Equip. depreciated using lower limit. (2-3 years lifespan) straight method. Calculate depreciation expense, Accumulated depreciation and net book value for equipment at end of 2023.

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter11: Long-term Assets

Section: Chapter Questions

Problem 8PA: Referring to PA7 where Kenzie Company purchased a 3-D printer for $450,000, consider how the...

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Subject: accounting