Homework Answers
| 1 | Straight-line | ||||
| Year | Depreciation % | Depreciation Exp. | Acc. Dep | Book Value year-end | |
| 1 | 20.00% | $2,400 | $2,400 | $10,600 | |
| 2 | 20.00% | $2,400 | $4,800 | $8,200 | |
| 3 | 20.00% | $2,400 | $7,200 | $5,800 | |
| 4 | 20.00% | $2,400 | $9,600 | $3,400 | |
| 5 | 20.00% | $2,400 | $12,000 | $1,000 | |
| Depreciation per year = ($13,000 - $1,000)/5 = $2,400 | |||||
| 2 | Double declining balance method | ||||
| Year | Depreciation Rate | Depreciation Exp. | Acc. Dep | Book Value year-end | |
| 1 | 40.00% | $5,200 | $5,200 | $7,800 | |
| 2 | 40.00% | $3,120 | $8,320 | $4,680 | |
| 3 | 40.00% | $1,872 | $10,192 | $2,808 | |
| 4 | 40.00% | $1,123 | $11,315 | $1,685 | |
| 5 | 40.00% | $685 | $12,000 | $1,000 | |
| 3 | Units of activity | ||||
| Year | Activity Miles | Depreciation Exp. | Acc. Dep | Book Value year-end | |
| 1 | 12,000 | $1,440 | $1,440 | $11,560 | |
| 2 | 18,000 | $2,160 | $3,600 | $9,400 | |
| 3 | 21,000 | $2,520 | $6,120 | $6,880 | |
| 4 | 14,000 | $1,680 | $7,800 | $5,200 | |
| 5 | 60,000 | $4,200 | $12,000 | $1,000 | |
| 125,000 | |||||
| Depreciation per hour = ($13,000 - $1,000)/100,000 = $.12 per hour | |||||
| Date of Purchase | Jan 1, 2012 | ||||
| Life Years | 5 | ||||
| Depreciation Rate % | 20% | ||||
| Cost | $13,000 | ||||
| Salvage value | $1,000 | ||||
| Depreciable Cost | $12,000 | ||||
| 1st years # Months | |||||
| Date of Disposal | Dec 31, 2013 | ||||
| Sale Price (cash) | $7,500 | ||||
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Next Journalize the purchase of the truck, the first year's
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Here's the data:
Purchased on January 1, 2012 for $13,000. Has an
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Depreciation Schedules Barb's Florists Name: Units Table $ SI Purchased new truck Jan 1, 2012 Sold Dec 31, 2013 for $7.500 Accounts Expected value Estimated nule in years Estimated useful life in miles 100.000 Extra Credit Complete A, B, C, D 50 7.5 minutes C: Journalize Purchase and DDB Depreciation: Generalural Notestateulations Intreti rmia >> A Prepare the straight line depreciation tabl Straight line Der's Degree Exp Acum JE Purchase for cash: Dale of Purchase Life years Dacation Rate Cost...
Prepare the depreciation tables for A. Straight Line, B. Double
Declining Balance, and C. Units of Activity.
Next Journalize the purchase of the truck, the first year's
depreciation expense, and the disposal of the
truck. (including explanations)
Here's the data:
Purchased on January 1, 2012 for $13,000. Has an
estimated residual value of $1,000.
Useful life of 5 years or 100,000 miles.
Sold on December 31st, 2013
100 Depr Scheds Barb's Florists Solution with JE thru Disposal and T accounts XX...
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in the blanks.
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