Homework Answers
| Asset | Cost | Salvage Value | Depreciable Value | Estimated Life | Annual Depreciation |
| a | b | c | d=b-c | e | f=d/e |
| A | $ 44,900 | $ 6,200 | $ 38,700 | 10 | $ 3,870 |
| B | $ 33,200 | $ 4,400 | $ 28,800 | 9 | $ 3,200 |
| C | $ 35,700 | $ 3,300 | $ 32,400 | 9 | $ 3,600 |
| D | $ 19,800 | $ 2,300 | $ 17,500 | 7 | $ 2,500 |
| E | $ 24,500 | $ 3,200 | $ 21,300 | 6 | $ 3,550 |
| Total | $ 1,58,100 | $ 16,720 | |||
| Composite Depreciation Rate = Total Annual Depreciation/ total cost | |||||
| =$16720/158100 | |||||
| 10.58% | |||||
| Date | Account Title | Debit | Credit | ||
| Depreciation Expenses | $ 16,720 | ||||
| Accumulated Depreciation | $ 16,720 | ||||
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Compsite rate amd journal
Presented below is information related to Novak Manufacturing Corporation. Estimated Salvage Estimated...
Presented below is information related to Novak Manufacturing Corporation. Asset Estimated Life (in years) Cost $44,900...
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Exercise 11-09 Presented below is information related to Sunland Manufacturing Corporation. Asset Cost Estimated Salvage Estimated...
Exercise 11-09
Presented below is information related to Sunland Manufacturing
Corporation.
Asset
Cost
Estimated Salvage
Estimated Life (in years)
A
$41,600
$5,900
10
B
34,000
4,300
9
C
36,500
4,100
9
D
19,800
2,300
7
E
24,400
3,100
6
Your answer is incorrect. Try again.
Compute the rate of depreciation per year to be applied to the
plant assets under the composite method. (Round answer
to 2 decimal place, e.g. 4.83%.)
Composite rate
enter the composite rate in percentages rounded...
*Exercise 11-09 Presented below is information related to Oriole Manufacturing Corporation Estimated Life (in years) Estimated...
*Exercise 11-09 Presented below is information related to Oriole Manufacturing Corporation Estimated Life (in years) Estimated Salvage Asset Cost $40,100 $6,200 А 10 В 32,100 5,100 9 36,800 3,500 1,600 9 19,800 7 E 24,700 3,100 6 Compute the rate of depreciation per year to be applied to the plant assets under the composite method. (Round answer to 2 decimal place, e.g. 4.83%.) Composite rate Prepare the adjusting entry necessary at the end of the year to record depreciation for...
Presented below is information related to Concord Manufacturing Corporation. Estimated Salvage Estimated Life (in years) Asset...
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Presented below is information related to Novak Manufacturing Corporation. Asset Estimated Life (in years) Cost $44,900 33,200 35,700 19,800 24,500 Estimated Salvage $6,200 4,400 3,300 2,300 3,200 (a) Your answer is correct. Compute the rate of depreciation per year to be applied to the plant assets under the composite method. (Round answer to 2 decimal place, .g. 4.839.) Composite rate 10.57% Click If you would like to show Work for this questions Open Show Work Prepare the entry to record...
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Exercise 11-09
Presented below is information related to Sunland Manufacturing
Corporation.
Asset
Cost
Estimated Salvage
Estimated Life (in years)
A
$41,600
$5,900
10
B
34,000
4,300
9
C
36,500
4,100
9
D
19,800
2,300
7
E
24,400
3,100
6
Your answer is incorrect. Try again.
Compute the rate of depreciation per year to be applied to the
plant assets under the composite method. (Round answer
to 2 decimal place, e.g. 4.83%.)
Composite rate
enter the composite rate in percentages rounded...
*Exercise 11-09 Presented below is information related to Oriole Manufacturing Corporation Estimated Life (in years) Estimated Salvage Asset Cost $40,100 $6,200 А 10 В 32,100 5,100 9 36,800 3,500 1,600 9 19,800 7 E 24,700 3,100 6 Compute the rate of depreciation per year to be applied to the plant assets under the composite method. (Round answer to 2 decimal place, e.g. 4.83%.) Composite rate Prepare the adjusting entry necessary at the end of the year to record depreciation for...
Presented below is information related to Concord Manufacturing Corporation. Estimated Salvage Estimated Life (in years) Asset Cost $44,700 $5,500 32,400 4,500 35,000 3,500 20,000 1,800 23,900 2,900 Compute the rate of depreciation per year to be applied to the plant assets under the composite method. (Round answer to 2 decimal place, e.g. 4.83%.) Composite rate e Textbook and Media Prepare the adjusting entry necessary at the end of the year to record depreciation for the year. (If no entry is...
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