Homework Answers
| Building | Warehouse | |
| Revised depreciation | (808000-115800-36600/44) = 14900 | (114000-21860-24640)/15 = 4500 |
Journal entry
| Account title and explanation | Debit | Credit |
| Depreciation expense | 14900 | |
| Accumulated depreciation-Building | 14900 |
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Exercise 10-08 a-b (Video) Terry Wade, the new controller of Blue Spruce...
System Announcements Exercise 10-08 a-b (Part Level Submission) (Video) Terry Wade, the new controller of Swifty...
System Announcements Exercise 10-08 a-b (Part Level Submission) (Video) Terry Wade, the new controller of Swifty Company, has reviewed the expected useful lives and salvage va Useful life in Years Accumulated Depreciation Date Salvage Value Type of Asset Acquired Cost 1/1/20 Old Proposed Old Proposed Building 1/1/14 $830,000 $118,350 40 $41,000 50 $64,850 Warehouse 1/1/15 102,000 19,240 25 20 5,800 12,260 All assets are depreciated by the straight-line method. Swifty Company uses a calendar year in preparing annua (a) Compute...
System Announcements Exercise 10-08 a-b (Part Level Submission) (Video) Terry Wade, the new controller of Swifty...
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Terry Wade, the new controller of Sheffield Corp., has reviewed the expected useful lives and salvage...
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please show steps. i would like to practice Exercise 9-6 Victor Mineli, the new controller of...
please show steps. i would like to practice
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Exercise 9-07 Victor Mineli, the new controller of Sandhill Co., has reviewed the expected useful lives and salvage values of selected depreciable assets at the beginning of 2022. Here are hi findings: Type of Asset Building Warehouse Acquired Jan. 1, 2014 Jan. 1, 2017 Cost $908,000 153,000 Accumulated Depreciation, Jan. 1, 2022 $168,500 29,680 Useful Life (in years) Old Proposed 4058 25 20 Salvage Value Old Proposed $65,500 $36,600 4,600 5,420 All assets are depreciated by the straight-line method. Sandhill...
Victor Mineli, the new controller of Oriole Company, has reviewed the expected useful lives and salvage...
Victor Mineli, the new controller of Oriole Company, has reviewed the expected useful lives and salvage values of selected depreciable assets at the beginning of 2022. Here are his findings: Useful Life (In years) Old Pro Type of Asset Building Warehouse Date Acquired Jan. 1, 2014 Jan 1, 2017 Cost $797,500 118,500 Accumulated Depreciation, Jan. 1, 2022 $145,600 22,540 40 Salvage Value Old Proposed $69,500 $36,800 5,800 5,960 25 All assets are depreciated by the straight-line method. Oriole Company uses...
Exercise 9-08 On July 1, 2019, Crane Company purchased new equipment for $75,000. Its estimated useful...
Exercise 9-08 On July 1, 2019, Crane Company purchased new equipment for $75,000. Its estimated useful life was 5 years with a 58,000 salvage value. On December 31, 2022, the company estimated that the equipment's remaining useful life was 10 years, with a revised salvage value of $5,000. Prepare the journal entry to record depreciation on December 31, 2019. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No...
Additional Exercise 251 Frank White the new controller of Youngman Company, has reviewed the expected useful lives and...
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Weygandt, Accounting Principles, 13e Help System Announcements Exercise 10-08 a b (Part Level Submission) (Video) T...
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PRINTER VERSION BACK NEXT Exercise 9-08 On July 1, 2019, Sheridan Company purchased new equipment for...
PRINTER VERSION BACK NEXT Exercise 9-08 On July 1, 2019, Sheridan Company purchased new equipment for $75,000. Its estimated useful life was 5 years with a $10,000 salvage value. On December 31, 2022, the company estimated that the equipment's remaining useful life was 10 years, with a revised salvage value of $5,000. Prepare the journal entry to record depreciation on December 31, 2019. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry...
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Terry Wade, the new controller of Sheffield Corp., has reviewed the expected useful lives and salvage values of selected depreciable assets at the beginning of 2020. His findings are as follows. Accumulated Depreciation Useful life in Years Date Salvage Value Type of Asset Proposed Old Proposed Acquired 1/1/14 Cost $810,000 Building 1/1/20 $115,950 22,360 Old 40 25 50 $37,000 20 4,200 $73,650 27,640 Warehouse 1/1/15 116,000 All assets are depreciated by the straight-line method. Sheffield Corp. uses a calendar year...
please show steps. i would like to practice
Exercise 9-6 Victor Mineli, the new controller of Pbargah Company, has reviewed the expected useful lives and salvage values of selected depreciable assets at the beginning of 2017. Here are his findings: Type of Asset Date Acquired Jan. 1, 2009 Cost $728,500 Accumulated Depreciation, Jan. 1, 2017 $134,200 Useful Life (in years) Old Proposed 40 4 8 Salvage Value Old Proposed $57,500 $36,100 Building Warehouse 2012 Jan. 1, 161,500 31,200 25 2...
Exercise 9-07 Victor Mineli, the new controller of Sandhill Co., has reviewed the expected useful lives and salvage values of selected depreciable assets at the beginning of 2022. Here are hi findings: Type of Asset Building Warehouse Acquired Jan. 1, 2014 Jan. 1, 2017 Cost $908,000 153,000 Accumulated Depreciation, Jan. 1, 2022 $168,500 29,680 Useful Life (in years) Old Proposed 4058 25 20 Salvage Value Old Proposed $65,500 $36,600 4,600 5,420 All assets are depreciated by the straight-line method. Sandhill...
Victor Mineli, the new controller of Oriole Company, has reviewed the expected useful lives and salvage values of selected depreciable assets at the beginning of 2022. Here are his findings: Useful Life (In years) Old Pro Type of Asset Building Warehouse Date Acquired Jan. 1, 2014 Jan 1, 2017 Cost $797,500 118,500 Accumulated Depreciation, Jan. 1, 2022 $145,600 22,540 40 Salvage Value Old Proposed $69,500 $36,800 5,800 5,960 25 All assets are depreciated by the straight-line method. Oriole Company uses...
Exercise 9-08 On July 1, 2019, Crane Company purchased new equipment for $75,000. Its estimated useful life was 5 years with a 58,000 salvage value. On December 31, 2022, the company estimated that the equipment's remaining useful life was 10 years, with a revised salvage value of $5,000. Prepare the journal entry to record depreciation on December 31, 2019. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No...
Additional Exercise 251 Frank White the new controller of Youngman Company, has reviewed the expected useful lives and salvage values of selected depreciable assets at the beginning of 2018. His findings are as follows. Useful Life Salvage Value (in Years) Accumulated Depreciation, 1/1/18 Date Туре of Proposed Acquired Old Old Asset Cost Proposed Building 1/1/12 $1,600,000 $228,000 $80,000 $52,000 40 50 Warehouse 1/1/13 207,000 40,000 25 20 7,000 5,000 ancial statements. After discussion, management has All assets are depreciated by...
Weygandt, Accounting Principles, 13e Help System Announcements Exercise 10-08 a b (Part Level Submission) (Video) Terry Wade, the new controller of Swifty Company, has reviewed the expected useful lives and salvage values of sel Date Type of Asset Acquired Building 1/1/14 Warehouse 1/1/15 Cost $830,000 102,000 Accumulated Depreciation 1/1/20 $118,350 19,240 Useful life in Years Old Proposed 40 50 25 2 0 Salvage Value Old Proposed $41,000 $64,850 5,800 12,260 All assets are depreciated by the straight line method. Swifty...
PRINTER VERSION BACK NEXT Exercise 9-08 On July 1, 2019, Sheridan Company purchased new equipment for $75,000. Its estimated useful life was 5 years with a $10,000 salvage value. On December 31, 2022, the company estimated that the equipment's remaining useful life was 10 years, with a revised salvage value of $5,000. Prepare the journal entry to record depreciation on December 31, 2019. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry...
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