Homework Answers
Depreciation per year = (Cost - Salvage value) /useful life
= (778,000 - 48,000)/10
= 73,000 per year
Accumulated Depreciation
= 73,000 * 2 years
= 146,000
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Required information Problem 7-8A Record the disposal of equipment (L07-6) [The following information applies to the...
Required information Problem 7-8A Record the disposal of equipment (L07-6) [The following information applies to the...
Required information Problem 7-8A Record the disposal of equipment (L07-6) [The following information applies to the questions displayed below.] New Morning Bakery is in the process of closing its operations. It sold its two-year-old bakery ovens to Great Harvest Bakery for $540,000. The ovens originally cost $734,000, had an estimated service life o years, had an estimated residual value of $44,000, and were depreciated using straight-line depreciatio Complete the requirements below for New Morning Bakery. Problem 7-8A Part 2 2....
Problem 7-8A Record the disposal of equipment (L07-6) The following information applies to the questions displayed...
Problem 7-8A Record the disposal of equipment (L07-6) The following information applies to the questions displayed below. New Morning Bakery is in the process of closing its operations. It sold its two-year-old bakery ovens to Great Harvest Bakery for $650,000. The ovens originally cost $855,000, had an estimated service life of 10 years, had an estimated residual value of $55,000, and were depreciated using straight-line depreciation. Complete the requirements below for New Morning Bakery. Problem 7-8A Part 1 Required: 1....
Required Information Problem 7-8A Record the disposal of equipment (L07-6) The following information applies to the...
Required Information Problem 7-8A Record the disposal of equipment (L07-6) The following information applies to the questions displayed below.] New Morning Bakery is in the process of closing its operations. It sold its two-year-old bakery ovens to Great Harvest Bakery for $600,000. The ovens originally cost $800.000, had an estimated service life of 10 years, had an estimated residual value of $50,000, and were depreciated using straight-line depreciation. Complete the requirements below for New Morning Bakery Problem 7-8A Part 4...
Required Information Problem 7-8A Record the disposal of equipment (LO7-6) [The following information applies to the...
Required Information Problem 7-8A Record the disposal of equipment (LO7-6) [The following information applies to the questions displayed below.) New Morning Bakery is in the process of closing its operations. It sold its two-year-old bakery ovens to Great Harvest Bakery for $600,000. The ovens originally cost $800,000, had an estimated service life of 10 years, had an estimated residual value of $50.000, and were depreciated using straight-line depreciation. Complete the requirements below for New Morning Bakery. Problem 7-8A Part 1...
Problem 7-8A Record the disposal of equipment (LO7-6) The following information applies to the questions displayed...
Problem 7-8A Record the disposal of equipment (LO7-6) The following information applies to the questions displayed below.) New Morning Bakery is in the process of closing its operations. It sold its two-year-old bakery ovens to Great Harvest Bakery for $650,000. The ovens originally cost $855,000, had an estimated service life of 10 years, had an estimated residual value of $55,000, and were depreciated using straight-line depreciation. Complete the requirements below for New Morning Bakery. Problem 7-8A Part 4 4. Record...
Required Information Problem 7-8B Record the disposal of equipment (LO7-6) The following information applies to the...
Required Information Problem 7-8B Record the disposal of equipment (LO7-6) The following information applies to the questions displayed below.] New Dell Is in the process of closing Its operations. It sold Its three-year-old ovens to Sicily Pizza for $316,400. The ovens originally cost $422.000, had an estimated service life of 10 years, had an estimated residual value of $27,000, and were depreciated using straight-line depreciation. Complete the requirements below for New Dell. Problem 7-8B Part 1 Requlred: 1. Calculate the...
Problem 7-8B Record the disposal of equipment (LO7-6) [The following information applies to the questions displayed...
Problem 7-8B Record the disposal of equipment (LO7-6)
[The following
information applies to the questions displayed below.]
New Deli is in the
process of closing its operations. It sold its three-year-old ovens
to Sicily Pizza for $320,500. The ovens originally cost $427,500,
had an estimated service life of 10 years, had an estimated
residual value of $27,500, and were depreciated using straight-line
depreciation. Complete the requirements below for New Deli.
Required information Problem 7-8B Record the disposal of equipment (LO7-6)...
[The following information applies to the questions displayed below.] New Morning Bakery is in the process...
[The following information applies to the questions displayed below.] New Morning Bakery is in the process of closing its operations. It sold its two-year-old bakery ovens to Great Harvest Bakery for $520,000. The ovens originally cost $712,000, had an estimated service life of 10 years, had an estimated residual value of $42,000, and were depreciated using straight-line depreciation. Complete the requirements below for New Morning Bakery. Required: 1. Calculate the balance in the accumulated depreciation account at the end of...
Required information Problem 7-88 Record the disposal of equipment (LO7-6) [The following information applies to the...
Required information Problem 7-88 Record the disposal of equipment (LO7-6) [The following information applies to the questions displayed below.] New Deli is in the process of closing its operations. It sold its three-year-old ovens to Sicily Pizza for $320,500. The ovens originally cost $427,500, had an estimated service life of 10 years, had an estimated residual value of $27,500, and were depreciated using straight-line depreciation. Complete the requirements below for New Deli Problem 7-8B Part 4 4. Record the sale...
Required Information [The following information applies to the questions displayed below.] New Morning Bakery is in...
Required Information [The following information applies to the questions displayed below.] New Morning Bakery is in the process of closing its operations. It sold its two-year-old bakery ovens to Great Harvest Bakery for $530,000. The ovens originally cost $723.000, had an estimated service life of 10 years, had an estimated residual value of $43.000, and were depreciated using straight-line depreciation. Complete the requirements below for New Morning Bakery Required: 1. Calculate the balance in the accumulated depreciation account at the...
Required information Problem 7-8A Record the disposal of equipment (L07-6) [The following information applies to the questions displayed below.] New Morning Bakery is in the process of closing its operations. It sold its two-year-old bakery ovens to Great Harvest Bakery for $540,000. The ovens originally cost $734,000, had an estimated service life o years, had an estimated residual value of $44,000, and were depreciated using straight-line depreciatio Complete the requirements below for New Morning Bakery. Problem 7-8A Part 2 2....
Problem 7-8A Record the disposal of equipment (L07-6) The following information applies to the questions displayed below. New Morning Bakery is in the process of closing its operations. It sold its two-year-old bakery ovens to Great Harvest Bakery for $650,000. The ovens originally cost $855,000, had an estimated service life of 10 years, had an estimated residual value of $55,000, and were depreciated using straight-line depreciation. Complete the requirements below for New Morning Bakery. Problem 7-8A Part 1 Required: 1....
Required Information Problem 7-8A Record the disposal of equipment (L07-6) The following information applies to the questions displayed below.] New Morning Bakery is in the process of closing its operations. It sold its two-year-old bakery ovens to Great Harvest Bakery for $600,000. The ovens originally cost $800.000, had an estimated service life of 10 years, had an estimated residual value of $50,000, and were depreciated using straight-line depreciation. Complete the requirements below for New Morning Bakery Problem 7-8A Part 4...
Required Information Problem 7-8A Record the disposal of equipment (LO7-6) [The following information applies to the questions displayed below.) New Morning Bakery is in the process of closing its operations. It sold its two-year-old bakery ovens to Great Harvest Bakery for $600,000. The ovens originally cost $800,000, had an estimated service life of 10 years, had an estimated residual value of $50.000, and were depreciated using straight-line depreciation. Complete the requirements below for New Morning Bakery. Problem 7-8A Part 1...
Problem 7-8A Record the disposal of equipment (LO7-6) The following information applies to the questions displayed below.) New Morning Bakery is in the process of closing its operations. It sold its two-year-old bakery ovens to Great Harvest Bakery for $650,000. The ovens originally cost $855,000, had an estimated service life of 10 years, had an estimated residual value of $55,000, and were depreciated using straight-line depreciation. Complete the requirements below for New Morning Bakery. Problem 7-8A Part 4 4. Record...
Required Information Problem 7-8B Record the disposal of equipment (LO7-6) The following information applies to the questions displayed below.] New Dell Is in the process of closing Its operations. It sold Its three-year-old ovens to Sicily Pizza for $316,400. The ovens originally cost $422.000, had an estimated service life of 10 years, had an estimated residual value of $27,000, and were depreciated using straight-line depreciation. Complete the requirements below for New Dell. Problem 7-8B Part 1 Requlred: 1. Calculate the...
Problem 7-8B Record the disposal of equipment (LO7-6)
[The following
information applies to the questions displayed below.]
New Deli is in the
process of closing its operations. It sold its three-year-old ovens
to Sicily Pizza for $320,500. The ovens originally cost $427,500,
had an estimated service life of 10 years, had an estimated
residual value of $27,500, and were depreciated using straight-line
depreciation. Complete the requirements below for New Deli.
Required information Problem 7-8B Record the disposal of equipment (LO7-6)...
Required information Problem 7-88 Record the disposal of equipment (LO7-6) [The following information applies to the questions displayed below.] New Deli is in the process of closing its operations. It sold its three-year-old ovens to Sicily Pizza for $320,500. The ovens originally cost $427,500, had an estimated service life of 10 years, had an estimated residual value of $27,500, and were depreciated using straight-line depreciation. Complete the requirements below for New Deli Problem 7-8B Part 4 4. Record the sale...
Required Information [The following information applies to the questions displayed below.] New Morning Bakery is in the process of closing its operations. It sold its two-year-old bakery ovens to Great Harvest Bakery for $530,000. The ovens originally cost $723.000, had an estimated service life of 10 years, had an estimated residual value of $43.000, and were depreciated using straight-line depreciation. Complete the requirements below for New Morning Bakery Required: 1. Calculate the balance in the accumulated depreciation account at the...
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