Now change the Cost, Life of the Asset, and Salvage Value for all of the assets listed in the table in your worksheet to match theinformation below:Asset No.1-0011-0021-0031-0041-0051-0061-007Fixed Asset NameDesktop computer13"LaptopLaptop 15"Tablet4-person WorkstationOffice chairs (set of 4)70" Flat Screen TV-Straight-LineDouble-DecliningStraight-LineDouble-DecliningStraight-LineDouble-DecliningTotal DepreciationYear 1$1,940Cost$1,700$1,100$2,700$ 650Be sure to also check the Cost in both of your Depreciation Method tables in your worksheet so that it matches the updatedinformation.Total AccumulatedDepreciationYear 1$3,100$1,000$1,500Required:2a. Complete the chart below that shows comparisons of the two depreciation methods. (Round your answers to the nearest wholedollar.)Total Net BookValue Year 1Life of Asset5Total DepreciationYear 255510105Total AccumulatedDepreciationYear 2Salvage Value$ 0$ 0Total Net BookValue Year 2Total DepreciationYear 3es es es es eseTotal AccumulatedDepreciationYear 3OOTotal Net BookValue Year 3$ 0$ 0$500$100$250

Name: Now change the Cost, Life of the Asset, and Salvage Value for all of
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Description: Now change the Cost, Life of the Asset, and Salvage Value for all of the assets listed in the table in your worksheet to match theinformation below:Asset No.1-0011-0021-0031-0041-0051-0061-007Fixed Asset NameDesktop computer13"LaptopLaptop 15"Tablet

Straight Line Method (SLM): Under this method, a fixed portion of asset is depreciated each year…

Business

Accounting

Required: 2a. Complete the chart below that shows comparisons of the two depreciation methods. (Round your answers to the nearest whole dollar.) Straight-Line Double-Declining Straight-Line Double-Declining Straight-Line Double-Declining Total Depreciation Year 1 $ 1,940 Total Accumulated Depreciation Year 1 Total Net Book Value Year 1 Total Depreciation Year 2 Total Accumulated Depreciation Year 2 Total Net Book Value Year 2 Total Depreciation Year 3 Total Accumulated Depreciation Year 3 Total Net Book Value Year 3

Required: 2a. Complete the chart below that shows comparisons of the two depreciation methods. (Round your answers to the nearest whole dollar.) Straight-Line Double-Declining Straight-Line Double-Declining Straight-Line Double-Declining Total Depreciation Year 1 $ 1,940 Total Accumulated Depreciation Year 1 Total Net Book Value Year 1 Total Depreciation Year 2 Total Accumulated Depreciation Year 2 Total Net Book Value Year 2 Total Depreciation Year 3 Total Accumulated Depreciation Year 3 Total Net Book Value Year 3

Century 21 Accounting General Journal

11th Edition

ISBN:9781337680059

Author:Gilbertson

Publisher:Gilbertson

Chapter15: Preparing Adjusting Entries And A Trial Balance

Section15.3: Adjusting Accumulated Depreciation

Problem 1OYO

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* CengageNOW2 | Online teachin x + ignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress=false 它 ☆ SU login O Digital University |.. Tenant Portal - Login 围 eBook Show Me How E Print Item Straight-Line Depreciation A building acquired at the beginning of the year at a cost of $93,600 has an estimated residual value of $3,600 and an estimated useful life of 10 years. Determine the following: a. The depreciable cost 90,000 10 b. The straight-line rate c. The annual straight-line depreciation 90,000 X Feedback V Check My Work ifference betwee the asset's initial cost and its residual value. The residual value is the estimated value at Depreciable cost is the the end of the useful life. Straight-line depreciation allocates the depreciable cost of the asset equally over the expected useful life. 10:22 PM 46% -2°F 12/16/2021 F11 F10 F8 F7 1%/ 6. 4. R. * CO 5
CengageNOWv2 | Online teachin x + /ilrn/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSession Locator=&inprogress=... A Print Item A Determining Fixed Asset's Book Value The balance in the equipment account is $3,240,000, and the balance in the accumulated depreciation-equipment account is $2,134,000. a. What is the book value of the equipment? X b. Does the balance in the accumulated depreciation account mean that the equipment's loss of value is $2,134,000? ✓, because depreciation is an allocation of the cost No of the equipment to the periods benefiting from its use. E 00
y Home CengageNOWv2 | Online teachin x takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogressfalse eBook Show Me How Calculator Print Item Partial-Year Depreciation Equipment acquired at a cost of $105,000 has an estimated residual value of $12,000 and an estimated useful life of 10 years. It was placed into service on May 1 of the current fiscal year, which ends on December 31. a. Determine the depreciation for the current fiscal year and for the following fiscal year by the straight-line method. Depreciation Year 1 %24 6,200 Year 2 b. Determine the depreciation for the current fiscal year and for the following fiscal year by the double-declining-balance method. Depreciation Year 1 Year 2 Feedback TCheck My Work Asset cost minus residual value equals depreciable cost Book value is the asset cost minus accumulated depreciation. If an asset is used for only part of a year the depreciation is prorated based on the number of months the asset is in service.…
CengageNOwv2 | Online teaching and.. A AAMA - State Scope of Practice L Learning Module 1- ACCT1105: Financi. nt. C https://geyser.cl-cms.com/assets/fr5am.. eBook Show Me How Units-of-Activity Depreciation A truck acquired at a cost of $202,800 has an estimated residual value of $18,000, has an estimated useful life of 440,000 miles, and was driven 113,000 miles during the year. Determine the following. If required, round your answer for the depreciation rate to 2 decimal places. a. The depreciable cost b. The depreciation rate per mile c. The units-of-activity depreciation for the year Check My Work Previous Next All work saved. Save and Exit Submit Assignment for Grading étv MacBook Air 80 888 DII DD F4 F6 F7 F9 F10 F11 F12 %23 2$ & 3 4 5 7 8 - E T Y U { G J %3D K V M .... V IN
Ephy. discussion X 11 Chapter 9 Home X Question 4 - Chap X D21 Module Twelve: P X Biomedical Treatr X ps://ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Flms.mheducati... A ework i Cost of the asset Installation costs Renovation costs prior to use Repairs after production began Saved PA9-1 (Algo) Part 4 study guide - Go X Required momation PA9-1 (Algo) Computing Acquisition Cost and Recording Depreciation under Three Alternative Methods [LO 9-2, LO 9-3] [The following information applies to the questions displayed below.] Year 2 units-of-production depreciation expense Help At the beginning of the year, Buffalo Machinery bought three used machines. The machines immediately were overhauled, were installed, and started operating. Because the machines were different, each was recorded separately in the accounts. Details for Machine A are provided below. $10,900 990 1,170 890 Save & Exit S Check my v 4. Compute year 2 units-of-production…
https://ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launch Url=https%253A%252F%252Fmymasonportal.gmu.edu%252Fweba 8: Homework i ces Listed below are costs (or discounts) to purchase or construct new plant assets. (1) Indicate whether the costs should be expensed or capitalized (Meaning they are included in the cost of the plant assets on the balance sheet.) (2) For costs that should be capitalized, indicate in which category of plant assets (Equipment, Building, or Land) the related costs should be recorded on the balance sheet. List 1. Costs to clear and grade land purchased for a new plant. 2. Parking ticket fees incurred by the delivery truck that illegally parked when delivering new equipment. 3. Demolition costs to remove an old building on land purchased. 4. Janitorial costs incurred to clean equipment. 5. Repair costs to fix new equipment damaged by the crew that unpacked it. 6. Costs to lay foundation for a new building. 7. Costs to unpack and assemble…
Online Test Window- Google Chrome tests.mettl.com/test-window/f55ac827#/testWindow/0/17/1 EY Accounting Assessment O Total 00:54:42 Finish Test Section 1 of 1 Section #1 v 10 11 12 13 14 15 16 17 19 18 18 of 45 All 43 Question # 18 G Revisit Choose the best option An entity purchased a machine for 700,000. The machine was depreciated using the straight-line method and had a residual value of 40,000, The machine was sold on December 31, 20X1. The accumulated depreciation related to the machine was 495,000 on that date. The entity reported a O 280,000 O 240,000 O 205,000 gain on the sale of the machine of 75,000 in its income statement for the fiscal year ending December 31, 20X1. The selling price of the machine was O 115,000 Prev Questen Next Question +91-82878-03040 Zaineh | Support +1-650-924-9221 metti 4:13 PM 1/16/2021 Type here to search 20
Sepreciation Caict ssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress=false MSU login O Digital University .. O Tenant Portal - Login 国Reac eBook Show Me How E Print Item Units-of-Activity Depreciation A truck acquired at a cost of $250,000 has an estimated residual value of $15,000, has an estimated useful life of 47,000 miles, and was driven 3,800 miles during the year. Determine the following. If required, round your answer for the depreciation rate to two decimal places. a. The depreciable cost b. The depreciation rate per mile c. The units-of-activity depreciation for the year 5:39 AM 36% 4°F A @ O E O 12/17/2021 24 & 4. 6. 7. 81 近
S.olivia Activity No. 3 assets. The following invoice displays the cost of furniture you have bought. Th items have an estimated salvage value of $5,000, and it is expected that will be used for 7 years. Design the depreciation schedule for the a Qatar Machinery QBN 48741 568 952 588 Salwa Road, Al Sadd, Doha, Qatar 3358 9625 Ashraf@busmachines.com Qty 11 18 40 5 Year Customer Information: Doha Product Description Boardroom Table Chairman chair Desk cupboard 00 File stand 025 injoj duz 300 T2D T2D+lotoidu2 noitollotant Invoice: tripisy tolonel Opening book value Annual Depreciation amount Invoice Invoice Number: A782528AM Invoice Date: 09 October 2013 Travel Agenvy Amount Each 800 500 nor 350 M29 400 bipopque 250 brote sl Sub total GST 10% Subtotal + GST Installation Freight Grand Total Amount Closing book value 2000 1500 Accumulated depreciation amount
1. Prepare depreciation schedules using Straight-Line, Units-of-Production, and Double-Declining Balance Depreciation. Finance Depreciation Schedules - Excel Sign In FILE НOМE INSERT PAGE LAYOUT FORMULAS DATA REVIEW VIEW Calibri -11 Alignment Number Conditional Format as Cell Formatting Table Styles - Paste в I U A. Cells Editing Clipboard Font Styles A1 fx Sullivan Ranch Corporation has purchased a new tractor. The following A D F 1 Sullivan Ranch Corporation has purchased a new tractor. The following information is given: 2 $ 150,000 10,000 3 Cost: 4 Estimated Residual: 5 Estimated Life in years: 4 6 Estimated Life in hours: 1200 7 Actual Hours: Year 1 360 9. Year 2 270 10 Year 3 350 11 Year 4 220 12 Prepare the following Straight Line depreciation schedule by using the excel SLN FUNCTION (fx) to calculate the 13 Depreciation Expense for Years 1-4 in the Depreciation Expense column. Enter formulas or absolute cell references for the remaining cells. 14 15 16 SULLIVAN RANCH…
Preview File Edit View Go Tools Window Help mgt120h-j17.pdf Page 5 of 10 V a. $8,800 b. $21,200 c. $12,600 d. $17,400 C ● 0 CC ✩ 10. ABC Company sold a delivery truck for cash of $10,700. The original cost of the truck was $30,000 and a loss of $1,900 was recognized on the sale. The accumulated depreciation at the date of sale must have been: V Search ((. Ơ Sat Apr 15 2:54 PM Low 9. If beginning inventory is overstated by $20,000 and ending inventory is overstated by $15,000 a. Net income is overstated by $5,000 b. Net income is understated by $5,000 c. Net income is overstated by $35,000 d. Net income is understated by $35,000 10. ABC Company sold a delivery truck for cash of $10,700. The original cost of the truck was $30.000 and a loss of $1.900 was recognized on the cole The accum 400-0 0