Question

What is the depreciation expense for the last year using the units-of-production method $______
     What is the accumulated depreciation balance at the end of the last year using the double-declining balance $________

Straight Line Method (Year End Book Value = Cost less Accumulated Depreciation) Depreciation for the Year Depreciation Rate Depreciation Accumulated Expense Asset Depreciable Cost Вook Cost 380,000 Date 1/2/15 Depreciation Value 344,000 12/31/15 86,000 3 12/31/16 12/31/17 12/31/18 208,000 36,000 Total 344,000 Units-of-Production (Year End Book Value Cost less Accumulated Depreciation) Step 1: Rate per Unit = (Cost - Residual Value)/Total Estimated Life in Units of Usage = ( hours of life Depreciation for the Year Number of Units Depreciation Accumulated Expense Book Depreciation Per Unit Asset Date Cost Depreciation Value 1/2/15 380,000 12/31/15 12/31/16 12/31/17 86,000 4. 60,200 36,000 12/31/18 Total R.R.M Double-Declining Balance (Year End Book Value = Cost less Accumulated Depreciation) Depreciation for the Year Depreciation Accumulated Expense Book Value Beginning Book Value Double Asset S/L Rate Date Cost 380,000 Depreciation 1/2/15 12/31/15 380,000 190,000 12/31/16 95,000 5. 11,500* 12/31/17 12/31/18 36,000 Total Final year: Beginning Book Value ( ) less Residual Value ( )= 11,500 For the double-declining balance method for 2017, make the journal entry for depreciation: General Journal Account Name Debit Credit 12/31/17 record depreciation --double declining bal

What is the account balance in Paid-In Capital in Excess of Par - Preferred $______
            What is the EXACT wording and amounts that should appear on the Preferred Stock line
            (top line)?
            wording:_______________________________________________________________

Answer 1

Information about units of production is Missing.

Straight Line Method
Date	Asset Cost	Depreciable Cost	Depreciation Rate	Depreciation Expense	Accumulated Depreciation	Book Value
1/2/15	$                380,000.00					$ 380,000.00
12/31/15	$                380,000.00	$ 344,000.00	25%	$      86,000.00	$  86,000.00	$ 294,000.00
12/31/16	$                380,000.00	$ 344,000.00	25%	$      86,000.00	$172,000.00	$ 208,000.00
12/31/17	$                380,000.00	$ 344,000.00	25%	$      86,000.00	$258,000.00	$ 122,000.00
12/31/18	$                380,000.00	$ 344,000.00	25%	$      86,000.00	$344,000.00	$   36,000.00
Total
Double declining Method
Date	Asset Cost	Beginning Book value	Double SL Depreciation Rate	Depreciation Expense	Accumulated Depreciation	Book Value
1/2/15	$                380,000.00					$ 380,000.00
12/31/15	$                380,000.00	$ 380,000.00	50%	$    190,000.00	$190,000.00	$ 190,000.00
12/31/16	$                380,000.00	$ 190,000.00	50%	$      95,000.00	$285,000.00	$   95,000.00
12/31/17	$                380,000.00	$   95,000.00	50%	$      47,500.00	$332,500.00	$   47,500.00
12/31/18	$                380,000.00	$   47,500.00	24%	$      11,500.00	$344,000.00	$   36,000.00
What is the accumulated depreciation balance at the end of the last year using the double-declining balance $	$                344,000.00
Account Titles and Explanation	Debit	Credit
Depreciation Expenses	$                  47,500.00
Accumulated Depreciation		$   47,500.00