Answer Happy

At December 31, 2019, Dynamic Exploration's balance sheet showed total PPE assets of $1,094,000 and total accumulated depreciation of $475,974 as detailed in the PPE Subledger below. Dynamic calculates depreciation to the nearest whole month. Cost Information Description Building Modular Furniture Truck Date of Purchase May 2, 2014 May 2, 2014 Jan 25, 2017 Assets Current assets Property, plant and equipment: Depreciation Method S/L 5/L DDB S/L-Straight-Line; DDB-Double-Declining-Balance. 2 There have been no disposals or subsequent capital expenditures since the date of purchase. Cost² Residual $850,000 $350,000 144,000 100,000 20,000 0 DYNAMIC EXPLORATION Partial Balance Sheet December 31, 2019 Furniture Less: Accumulated depreciation Building Less: Accumulated depreciation Truck Less: Accumulated depreciation Total property, plant and equipment Total assets Life 10 yr. 6 yr. s yr. Assume that the only other assets at December 31, 2019, were total current assets of $358,000. Prepare the asset section of Dynamic Exploration's classified balance sheet at December 31, 2019. Depreciation Balance of Accum. Deprec. Dec. 31, 2019 $283,333 136,000 56,641