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EX 9-16 Capital expenditure and depreciation Obj. 1, 2 Willow Creek Company purchased and installed carpet...
12. EX.09-16.ALGO (Algorithmic) Capital Expenditure and Depreciation Willow Creek purchased and installed carpet in its new...
12. EX.09-16.ALGO (Algorithmic) Capital Expenditure and Depreciation Willow Creek purchased and installed carpet in its new general offices on April 30 for a total cos $12,780. The carpet is estimated to have a 15-year useful life and no residual value. a. Prepare the journal entry necessary for recording the purchase of the new carpet. April 30 b. Record the December 31 adjusting entry for the partial-year depreciation expense for the carpet, assuming that Willow Creek uses the straight-line method. Do...
(2) Willow Creek Company purchased and installed carpet in its new general offices on April 30...
(2) Willow Creek Company purchased and installed carpet in its new general offices on April 30 for a total cost of $36,288. The carpet is estimated to have a 16-year useful life and no residual value. A. Prepare the journal entry necessary for recording the purchase of the new carpet. Refer to the Chart of Accounts for exact wording of account titles. B. Record the December 31 adjusting entry for the partial-year depreciation expense for the carpet, assuming that Willow...
Capital expenditure and depreciation Instructions Willow Creek Company purchased and installed carpet in its new general...
Capital expenditure and depreciation Instructions Willow Creek Company purchased and installed carpet in its new general offices on April 30 for a total cost of $27,504. The carpet is estimated to have a 12-year useful life and no residual value. A. Prepare the journal entry necessary for recording the purchase of the new carpet. Refer to the Chart of Accounts for exact wording of account titles. B. Record the December 31 adjusting entry for the partial-year depreciation expense for the...
Instructions Willow Creek Company purchased and installed carpet in its new general offices on April 30...
Instructions Willow Creek Company purchased and installed carpet in its new general offices on April 30 for a total cost of $35, 136. The carpet is estimated to have a 16-year useful life and no residual value. A. Prepare the journal entry necessary for recording the purchase of the new carpet. Refer to the Chart of Accounts for exact wording of account titles. B. Record the December 31 adjusting entry for the partial-year depreciation expense for the carpet, assuming that...
Depreciation by Units-of-activity Method A diesel-powered tractor with a cost of $304,360 and estimated residual value...
Depreciation by Units-of-activity Method A diesel-powered tractor with a cost of $304,360 and estimated residual value of $4,900 is expected to have a useful operating life of 93,000 hours. During April, the tractor was operated 100 hours. Determine the depreciation for the month. If required, carry out any division to two decimal places. $ Willow Creek Company purchased and installed carpet in its new general offices on April 30 for a total cost of $35,136. The carpet is estimated to...
1: straight preciation, $22,500 PR 9-2A Comparing three depreciation methods Obj. 2 Dexter Industries purchased packaging...
1: straight preciation, $22,500 PR 9-2A Comparing three depreciation methods Obj. 2 Dexter Industries purchased packaging equipment on January 8 for $72,000. The equipment was expected to have a useful life of three years, or 18,000 operating hours, and a residual value of $4,500. The equipment was used for 7.600 hours during Year 1, 6,000 hours in Year 2, and 4,400 hours in Year 3. EXCEL TEMPLATE Instructions 1. Determine the amount of depreciation expense for the three years ending...
April 1 for $270,000. The equipment was expected Obj. 2 Perdue Company purchased equipment on April...
April 1 for $270,000. The equipment was expected Obj. 2 Perdue Company purchased equipment on April 1 for $270,000. The eau to have a useful life of three years or 18,000 operating hours, and a residual value of $0 000 The equipment was used for 7,500 hours during Year 1, 5,500 hours in Year 24000 . Year 3, and 1,000 hours in Year 4. Instructions Determine the amount of depreciation expense for the years ended December 31. Year 1 Year...
2. A company purchased and installed equipment on January 1 at a total cost of $72,000....
2. A company purchased and installed equipment on January 1 at a total cost of $72,000. Straight-line depreciation was calculated based on the assumption of a five-year life and no salvage value. The equipment was disposed of on July 1 of the fourth year. The company uses the calendar year. 1. Prepare the general journal entry to update depreciation to July 1 in the fourth year. 2. Prepare the general journal entry to record the disposal of the equipment under...
Silva company Silva Company uses straight-line depreciation and is considering a capital expenditure of which the...
Silva company
Silva Company uses straight-line depreciation and is considering a capital expenditure of which the following relevant cash flow data have been estimated: Estimated useful life: Initial investment: Savings year 1: Savings year 2: Savings year 3: Residual value after 3 yrs 3 years $500,000 $180,000 $190,000 $180,000 $40,000 The total depreciation expense over the life of the asset is $460,000. $20,000. $540,000. $190.000
Obj. 2 PR 9-3B Depreciation by three methods; partial years Layton Company purchased tool sharpening equipment...
Obj. 2 PR 9-3B Depreciation by three methods; partial years Layton Company purchased tool sharpening equipment on October 1 for $108,000. The eg ment was expected to have a useful life of three years or 12,000 operating hours, and a residual value of $7,200. The equipment was used for 1,350 hours during Year 1, 4,200 hours in Year 2 3,650 hours in Year 3, and 2,800 hours in Year 4. Instructions Determine the amount of depreciation expense for the years...
12. EX.09-16.ALGO (Algorithmic) Capital Expenditure and Depreciation Willow Creek purchased and installed carpet in its new general offices on April 30 for a total cos $12,780. The carpet is estimated to have a 15-year useful life and no residual value. a. Prepare the journal entry necessary for recording the purchase of the new carpet. April 30 b. Record the December 31 adjusting entry for the partial-year depreciation expense for the carpet, assuming that Willow Creek uses the straight-line method. Do...
Instructions Willow Creek Company purchased and installed carpet in its new general offices on April 30 for a total cost of $35, 136. The carpet is estimated to have a 16-year useful life and no residual value. A. Prepare the journal entry necessary for recording the purchase of the new carpet. Refer to the Chart of Accounts for exact wording of account titles. B. Record the December 31 adjusting entry for the partial-year depreciation expense for the carpet, assuming that...
1: straight preciation, $22,500 PR 9-2A Comparing three depreciation methods Obj. 2 Dexter Industries purchased packaging equipment on January 8 for $72,000. The equipment was expected to have a useful life of three years, or 18,000 operating hours, and a residual value of $4,500. The equipment was used for 7.600 hours during Year 1, 6,000 hours in Year 2, and 4,400 hours in Year 3. EXCEL TEMPLATE Instructions 1. Determine the amount of depreciation expense for the three years ending...
April 1 for $270,000. The equipment was expected Obj. 2 Perdue Company purchased equipment on April 1 for $270,000. The eau to have a useful life of three years or 18,000 operating hours, and a residual value of $0 000 The equipment was used for 7,500 hours during Year 1, 5,500 hours in Year 24000 . Year 3, and 1,000 hours in Year 4. Instructions Determine the amount of depreciation expense for the years ended December 31. Year 1 Year...
2. A company purchased and installed equipment on January 1 at a total cost of $72,000. Straight-line depreciation was calculated based on the assumption of a five-year life and no salvage value. The equipment was disposed of on July 1 of the fourth year. The company uses the calendar year. 1. Prepare the general journal entry to update depreciation to July 1 in the fourth year. 2. Prepare the general journal entry to record the disposal of the equipment under...
Silva company
Silva Company uses straight-line depreciation and is considering a capital expenditure of which the following relevant cash flow data have been estimated: Estimated useful life: Initial investment: Savings year 1: Savings year 2: Savings year 3: Residual value after 3 yrs 3 years $500,000 $180,000 $190,000 $180,000 $40,000 The total depreciation expense over the life of the asset is $460,000. $20,000. $540,000. $190.000
Obj. 2 PR 9-3B Depreciation by three methods; partial years Layton Company purchased tool sharpening equipment on October 1 for $108,000. The eg ment was expected to have a useful life of three years or 12,000 operating hours, and a residual value of $7,200. The equipment was used for 1,350 hours during Year 1, 4,200 hours in Year 2 3,650 hours in Year 3, and 2,800 hours in Year 4. Instructions Determine the amount of depreciation expense for the years...
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