Exercise 11-3 Blue Spruce Corporation purchased a new plant asset on April 1, 2020, at a cost of $984,000. It was estimated to have a useful life of 20 years and a residual value of $384,000, a physical life of 30 years, and a salvage value of $0. Blue Spruce's accounting period is the calendar year. Blue Spruce prepares financial statements in accordance with IFRS. O Your answer is partially correct. Try again. Calculate the depreciation for this asset for 2020 and 2021 using the straight-line method. (Round answers to 0 decimal places, e.g. 5,275.) Depreciation 2020 30000 2021 LINK TO ΤΕXΤ Your answer is incorrect. Try again. Calculate the depreciation for this asset for 2020 and 2021 using the double-declining-balance method. (Round answers to 0 decimal places, e.g. 5,275.) Depreciation 2020 2021 LINK Το EXT 2 Your answer is partially correct. Try again. Calculate the depreciation for this asset for 2020 and 2021 using the straight-line method and assuming Blue Spruce prepares financial statements in accordance with ASPE. (Do not round intermediate calculations and round answers to 0 decimal places, e.g. 5,275.) Depreciation 2020 2021 32800

Corporate Financial Accounting
14th Edition
ISBN:9781305653535
Author:Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:Carl Warren, James M. Reeve, Jonathan Duchac
Chapter9: Long-term Assets: Fixed And Intangible
Section: Chapter Questions
Problem 9.4BE: Revision of depreciation Equipment with a cost of 180,000 has an estimated residual value of 14,400,...
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Exercise 11-3
Blue Spruce Corporation purchased a new plant asset on April 1, 2020, at a cost of $984,000. It was estimated to have a useful life of 20 years and a
residual value of $384,000, a physical life of 30 years, and a salvage value of $0. Blue Spruce's accounting period is the calendar year. Blue Spruce
prepares financial statements in accordance with IFRS.
Your answer is partially correct. Try again.
Calculate the depreciation for this asset for 2020 and 2021 using the straight-line method. (Round answers to 0 decimal places, e.g. 5,275.)
Depreciation
2020
2021
30000
LINK TO TEXT
X Your answer is incorrect. Try again.
Calculate the depreciation for this asset for 2020 and 2021 using the double-declining-balance method. (Round answers to 0 decimal places, e.g.
5,275.)
Depreciation
2020
2021
LINK TO TEXT
Your answer is partially correct. Try again.
Calculate the depreciation for this asset for 2020 and 2021 using the straight-line method and assuming Blue Spruce prepares financial statements in
accordance with ASPE. (Do not round intermediate calculations and round answers to O decimal places, e.g. 5,275.)
Depreciation
2020
2021
32800
Transcribed Image Text:Exercise 11-3 Blue Spruce Corporation purchased a new plant asset on April 1, 2020, at a cost of $984,000. It was estimated to have a useful life of 20 years and a residual value of $384,000, a physical life of 30 years, and a salvage value of $0. Blue Spruce's accounting period is the calendar year. Blue Spruce prepares financial statements in accordance with IFRS. Your answer is partially correct. Try again. Calculate the depreciation for this asset for 2020 and 2021 using the straight-line method. (Round answers to 0 decimal places, e.g. 5,275.) Depreciation 2020 2021 30000 LINK TO TEXT X Your answer is incorrect. Try again. Calculate the depreciation for this asset for 2020 and 2021 using the double-declining-balance method. (Round answers to 0 decimal places, e.g. 5,275.) Depreciation 2020 2021 LINK TO TEXT Your answer is partially correct. Try again. Calculate the depreciation for this asset for 2020 and 2021 using the straight-line method and assuming Blue Spruce prepares financial statements in accordance with ASPE. (Do not round intermediate calculations and round answers to O decimal places, e.g. 5,275.) Depreciation 2020 2021 32800
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