Homework Answers
journal entry under straight line method would be
debited to depreciation expense and credit accumulated depreciation
accumulated depreciation is deducted from asset on balance sheet
journal
| debit | credit | |||
| depreciation expense | 2550 | |||
| accumulated depreciation | 2550 | |||
27000-1500 /10years
=25500/10
=2550$
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Compute deprediation expense for 2020 and 2021 using (1) the straight-line method, (2) the units-of-activity method,...
(62) Assume that Bridgeport uses the straight-line method. Show how the truck would be reported in...
(62) Assume that Bridgeport uses the straight-line method. Show how the truck would be reported in the December 31, 2020, balance 2,125.) BRIDGEPORT COMPANY Partial Balance Sheet December 31, 2020 By accessing this Question Assistance, you will learn while you earn points based on the Point Potential Policy set by your instructor Attempts: 0 of 6 nere to search W R . Compute depreciation expense for 2020 and 2021 using (1) the straight-line method, (2) the units of activity method,...
sing this question Assistance, you will learn while you earn points based on the Point Potential...
sing this question Assistance, you will learn while you earn points based on the Point Potential policy set by your instructor the double declining balance meth om depreciation expense 154 Rudal 2020 and 2021 using (t) the straight line method, (2) the units of activity method, and to decalcese 2.125) Detection 2011 (1) Straight line method (2) units of activity method Debeth B o n , you learn while you ambao DELL se 10-11-12 Part Level ) port Company purchased...
Flint Company purchased a delivery truck for $29,000 on January 1, 2020. The truck has an...
Flint Company purchased a delivery truck for $29,000 on January
1, 2020. The truck has an expected salvage value of $2,740, and is
expected to be driven 101,000 miles over its estimated useful life
of 10 years. Actual miles driven were 16,600 in 2020 and 13,100 in
2021.
Calculate depreciation expense per mile under units-of-activity
method. (Round answer to 2 decimal places, e.g.
0.50.)
Depreciation expense
$
per mile
Compute depreciation expense for 2020 and 2021 using (1) the
straight-line...
Concord Corporation purchased a delivery truck for $36,800 on January 1, 2020. The truck has an...
Concord Corporation purchased a delivery truck for $36,800 on January 1, 2020. The truck has an expected salvage value of $1,800, and is expected to be driven 100,000 miles over its estimated useful life of 8 years. Actual miles driven were 13,500 in 2020 and 13,000 in 2021. Calculate depreciation expense per mile under units-of-activity method. (Round answer to 2 decimal places, e.g. 0.50.) Depreciation expense $ per mile e Textbook and Media List of Accounts Compute depreciation expense for...
Bridgeport Company purchased a delivery truck for $27,000 on January 1, 2020. The truck has an...
Bridgeport Company purchased a delivery truck for $27,000 on
January 1, 2020. The truck has an expected salvage value of $1,500,
and is expected to be driven 102,000 miles over its estimated
useful life of 10 years. Actual miles driven were 12,800 in 2020
and 14,300 in 2021.
Compute depreciation expense for 2020 and 2021 using (1) the
straight-line method, (2) the units-of-activity method, and (3) the
double-declining-balance method. (Round depreciation
cost per unit to 2 decimal places, e.g. 0.50...
Please explain how to do units of activity method and declining balance. Novak Corp. purchased a...
Please explain how to do units of activity method and declining balance. Novak Corp. purchased a delivery truck for $35,600 on January 1, 2020. The truck has an expected salvage value of $1,600, and is expected to be driven 100,000 miles over its estimated useful life of 8 years. Actual miles driven were 16,100 in 2020 and 11,700 in 2021. Compute depreciation expense for 2020 and 2021 using (1) the straight-line method, (2) the units-of-activity method, and (3) the double-declining-balance...
as follows. RCES Useful life Accumulated Depreciation Salvage Value Date in Years (Part Old Proposed Old...
as follows. RCES Useful life Accumulated Depreciation Salvage Value Date in Years (Part Old Proposed Old Acquired 1/1/20 Proposed Type of Asset Cost Building 1/1/14 -b2 ssion) b (Part $830,000 $118,350 40 50 $41,000 $64,850 102,000 Warehouse 1/1/15 19,240 25 20 5,800 12,260 All assets are deprediated by the straight-line method. Swifty Company uses a calendar year in preparing annual financial state accept Terry's proposed changes. (a) wStudy Your answer is correct. Compute the revised annual depreciation on each asset...
Pronghorn Company purchased a delivery truck for $26,000 on January 1, 2020. The truck has an...
Pronghorn Company purchased a delivery truck for $26,000 on January 1, 2020. The truck has an expected salvage value of $1,280, and is expected to be driven 103,000 miles over its estimated useful life of 10 years. Actual miles driven were 12,700 in 2020 and 10,200 in 2021. a. Calculate depreciation expense per mile under units-of-activity method. (Round answer to 2 decimal places, e.g. 0.50.) Depreciation expense $ per mile b. Compute depreciation expense for 2020 and 2021 using (1)...
Exercise 10-07 a1-b2 Concord Company purchased a delivery truck for $29,000 on January 1, 2020. The...
Exercise 10-07 a1-b2
Concord Company purchased a delivery truck for $29,000 on
January 1, 2020. The truck has an expected salvage value of $1,000,
and is expected to be driven 100,000 miles over its estimated
useful life of 10 years. Actual miles driven were 12,300 in 2020
and 13,200 in 2021.
Your answer is correct.
Calculate depreciation expense per mile under units-of-activity
method. (Round answer to 2 decimal places, e.g.
0.50.)
Depreciation expense
$
per mile
SHOW LIST OF ACCOUNTS...
By accessing this Question Assistance, you will learn while you earn points based on the Point...
By accessing this Question Assistance, you will learn while you earn points based on the Point Potential Policy set by your i Part on on) (b1) Assume that Bridgeport uses the straight-line method. Prepare the journal entry to record 2020 depredation. (Credit accous entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for ta 2,125.) tudy Account Titles and Explanation Debit Credit By accessing this Question Assistance, you will...
(62) Assume that Bridgeport uses the straight-line method. Show how the truck would be reported in the December 31, 2020, balance 2,125.) BRIDGEPORT COMPANY Partial Balance Sheet December 31, 2020 By accessing this Question Assistance, you will learn while you earn points based on the Point Potential Policy set by your instructor Attempts: 0 of 6 nere to search W R . Compute depreciation expense for 2020 and 2021 using (1) the straight-line method, (2) the units of activity method,...
sing this question Assistance, you will learn while you earn points based on the Point Potential policy set by your instructor the double declining balance meth om depreciation expense 154 Rudal 2020 and 2021 using (t) the straight line method, (2) the units of activity method, and to decalcese 2.125) Detection 2011 (1) Straight line method (2) units of activity method Debeth B o n , you learn while you ambao DELL se 10-11-12 Part Level ) port Company purchased...
Flint Company purchased a delivery truck for $29,000 on January
1, 2020. The truck has an expected salvage value of $2,740, and is
expected to be driven 101,000 miles over its estimated useful life
of 10 years. Actual miles driven were 16,600 in 2020 and 13,100 in
2021.
Calculate depreciation expense per mile under units-of-activity
method. (Round answer to 2 decimal places, e.g.
0.50.)
Depreciation expense
$
per mile
Compute depreciation expense for 2020 and 2021 using (1) the
straight-line...
Concord Corporation purchased a delivery truck for $36,800 on January 1, 2020. The truck has an expected salvage value of $1,800, and is expected to be driven 100,000 miles over its estimated useful life of 8 years. Actual miles driven were 13,500 in 2020 and 13,000 in 2021. Calculate depreciation expense per mile under units-of-activity method. (Round answer to 2 decimal places, e.g. 0.50.) Depreciation expense $ per mile e Textbook and Media List of Accounts Compute depreciation expense for...
Bridgeport Company purchased a delivery truck for $27,000 on
January 1, 2020. The truck has an expected salvage value of $1,500,
and is expected to be driven 102,000 miles over its estimated
useful life of 10 years. Actual miles driven were 12,800 in 2020
and 14,300 in 2021.
Compute depreciation expense for 2020 and 2021 using (1) the
straight-line method, (2) the units-of-activity method, and (3) the
double-declining-balance method. (Round depreciation
cost per unit to 2 decimal places, e.g. 0.50...
as follows. RCES Useful life Accumulated Depreciation Salvage Value Date in Years (Part Old Proposed Old Acquired 1/1/20 Proposed Type of Asset Cost Building 1/1/14 -b2 ssion) b (Part $830,000 $118,350 40 50 $41,000 $64,850 102,000 Warehouse 1/1/15 19,240 25 20 5,800 12,260 All assets are deprediated by the straight-line method. Swifty Company uses a calendar year in preparing annual financial state accept Terry's proposed changes. (a) wStudy Your answer is correct. Compute the revised annual depreciation on each asset...
Exercise 10-07 a1-b2
Concord Company purchased a delivery truck for $29,000 on
January 1, 2020. The truck has an expected salvage value of $1,000,
and is expected to be driven 100,000 miles over its estimated
useful life of 10 years. Actual miles driven were 12,300 in 2020
and 13,200 in 2021.
Your answer is correct.
Calculate depreciation expense per mile under units-of-activity
method. (Round answer to 2 decimal places, e.g.
0.50.)
Depreciation expense
$
per mile
SHOW LIST OF ACCOUNTS...
By accessing this Question Assistance, you will learn while you earn points based on the Point Potential Policy set by your i Part on on) (b1) Assume that Bridgeport uses the straight-line method. Prepare the journal entry to record 2020 depredation. (Credit accous entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for ta 2,125.) tudy Account Titles and Explanation Debit Credit By accessing this Question Assistance, you will...
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