Answer:
See the explanation below.
Explanation:
Given the following:
Asset    Acquisition-Cost   Expected-Life    Residual-Value   Time-Used 
Land        $104,300                 Infinite               $100,000            10 years 
Building     430,000               25 years                30,000             10 years 
Machine     285,000                5 years                  10,000              2 years 
Patent          80,000                10 years                     0                    3 years 
Truck            21,000             100,000 miles           3,000         44,000 miles
Therefore, we have:
Building annual depreciation = ($430,000 - $30,000) / 25 = $16,000
Building net book value (NBV) = $430,000 - (16,000 * 10) = $270,000
Machine annual depreciation = ($285,000 - 10,000) / 10 = $27,500
Machine NBV = $285,000 - ($27,500 * 2) = $230,000
Patent annual amortization = $80,000 / 10 = $8,000
Patent net written down value = $80,000 - ($8,000 * 3) = $56,000
Truck accumulated depreciation = ($21,000 - 3,000) * (44,000 / 100,000) = $7,920
Truck NBV = $21,000 - $7,920 = 13,080
Westfield Semiconductors Balance Sheet (Partial) as of December 31, 2019.
<u>Details                                                             $</u>
Property, plant, and equipment:
Land (Cost)                                                104,300
Building (NBV)                                          270,000
Machine (NBV)                                         230,000
Truck (NBV)                                             <u>    13,080</u>
Total PPM                                                  617,380 
Intangible assets:
Patent (NRV)                                              <u> 56,000</u>
Total tangible and intangible assets    <u> 673,380</u>