Homework Answers
| Old Depreciation Expense = ($10,000 - $1250)/5 | 1750 |
| Book value on Jan 21 = ($10000 - (1750 x 2 years)) | 6500 |
| New Depreciation Expense = (6500/2) | $ 3,250.00 |
| Depreciation Expense for year 2021 | $ 3,250.00 |
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Brief Exercise 11-07 Novak Company purchased a computer for $10,000 on January 1, 2019. Straight-line depreciation...
Answer is NOT 3250, 6500, or 1750. Brief Exercise 11-07 Novak Company purchased a computer for...
Answer is NOT 3250, 6500, or 1750.
Brief Exercise 11-07 Novak Company purchased a computer for $10,000 on January 1, 2019. Straight-line depreciation is used, based on a 5-year life and a $1,250 salvage value. On January 1, 2021, the estimates are revised. Novak now feels the computer will be used until December 31, 2022, when it can be sold for $625. Compute the 2021 depreciation. (Round answer to 0 decimal places, e.g. 45,892.) Depreciation expense, 2021 $
Brief Exercise 11-07 Crane Company purchased a computer for $8,080 on January 1, 2019. Straight-line depreciation...
Brief Exercise 11-07
Crane Company purchased a computer for $8,080 on January 1,
2019. Straight-line depreciation is used, based on a 5-year life
and a $1,010 salvage value. On January 1, 2021, the estimates are
revised. Crane now feels the computer will be used until December
31, 2022, when it can be sold for $505.
Compute the 2021 depreciation. (Round answer to 0
decimal places, e.g. 45,892.)
Depreciation expense, 2021
$
PLEASE SHOW ALL WORK.
explanation very appreciated Blue Company purchased a computer for $9,760 on January 1, 2019. Straight-line depreciation...
explanation very appreciated
Blue Company purchased a computer for $9,760 on January 1, 2019. Straight-line depreciation is used, based on a 5-year life and a $1,220 salvage value. In 2021, the estimates are revised. Blue now feels the computer will be used until December 31, 2022, when it can be sold for $610. Compute the 2021 depreciation. (Round answer to 0 decimal places, e.g. 45,892.) Depreciation expense, 2021
Windsor Company purchased a computer for $8,640 on January 1, 2019. Straight-line depreciation is used, based...
Windsor Company purchased a computer for $8,640 on January 1, 2019. Straight-line depreciation is used, based on a 5-year life and a $1,080 salvage value. On January 1, 2021, the estimates are revised. Windsor now feels the computer will be used until December 31, 2022, when it can be sold for $540. Compute the 2021 depreciation
x Your answer is incorrect. Wildhorse Company purchased a computer for $9,440 on January 1, 2019....
x Your answer is incorrect. Wildhorse Company purchased a computer for $9,440 on January 1, 2019. Straight-line depreciation is used, based on a 5-year life and a $1,180 salvage value. On January 1, 2021, the estimates are revised. Wildhorse now feels the computer will be used until December 31, 2022, when it can be sold for $590. Compute the 2021 depreciation. (Round answer to 0 decimal places, e.g. 45,892.) Depreciation expense, 2021 $ 2478 eTextbook and Media
CALCULATOR FULL SCREEN PRINTER VERSION BACK NEXT Brief Exercise 11-7 Sweet Company purchased a computer for...
CALCULATOR FULL SCREEN PRINTER VERSION BACK NEXT Brief Exercise 11-7 Sweet Company purchased a computer for $8,480 on January 1, 2016. Straight-line depreciation is used, based on a 5 year life and a $1,060 salvage value. In 2018, the estimates are revised. Sweet now feels the computer will be used until December 31, 2019, when it can be sold for $530. Compute the 2018 depreciation. (Round answer to 0 decimal places, e.g. 45,892.) Depreciation expense, 2018 LINK TO TEXT
Johnson Company purchased a computer system for $66,800 on January 1, 2019. It was depreciated based...
Johnson Company purchased a computer system for $66,800 on January 1, 2019. It was depreciated based on a 6-year life and an $17,000 salvage value. On January 1, 2021, Johnson revised these estimates to a total useful life of 4 years and a salvage value of $10,000. Johnson uses straight-line depreciation. Prepare Johnson's entry to record 2021 depreciation expense
Sunland Company purchased a hot tub for $11,210 on January 1, 2016. Straight-line depreciation is used,...
Sunland Company purchased a hot tub for $11,210 on January 1, 2016. Straight-line depreciation is used, based on a 6-year life and a $1,790 salvage value. In 2018, the estimates are revised. Sunland now feels the hot tub will be used until December 31, 2020, when it can be sold for $840. Compute the 2018 depreciation. Depreciation expense, 2018
Brief Exercise 22-5 Blossom Company purchased a computer system for $78,800 on January 1, 2016. It...
Brief Exercise 22-5 Blossom Company purchased a computer system for $78,800 on January 1, 2016. It was depreciated based on a 8-year life and an $16,800 salvage value. On January 1, 2018, Blossom revised these estimates to a total useful life of 4 years and a salvage value of $10,200. Blossom uses straight-line depreciation. Prepare Blossom's entry to record 2018 depreciation expense. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is...
Danish Inc purchased a computer on January 1, 2019, for $1,600,000. The straight-line method of depreciation...
Danish Inc purchased a computer on January 1, 2019, for $1,600,000. The straight-line method of depreciation was used, based on an expected life of 6 years and a residual value of $130,000. Prepare the journal entries to record depreciation for the first 6 months of 2021 and the sale of the computer on July 1, 2021, for $1,000,000.
Answer is NOT 3250, 6500, or 1750.
Brief Exercise 11-07 Novak Company purchased a computer for $10,000 on January 1, 2019. Straight-line depreciation is used, based on a 5-year life and a $1,250 salvage value. On January 1, 2021, the estimates are revised. Novak now feels the computer will be used until December 31, 2022, when it can be sold for $625. Compute the 2021 depreciation. (Round answer to 0 decimal places, e.g. 45,892.) Depreciation expense, 2021 $
Brief Exercise 11-07
Crane Company purchased a computer for $8,080 on January 1,
2019. Straight-line depreciation is used, based on a 5-year life
and a $1,010 salvage value. On January 1, 2021, the estimates are
revised. Crane now feels the computer will be used until December
31, 2022, when it can be sold for $505.
Compute the 2021 depreciation. (Round answer to 0
decimal places, e.g. 45,892.)
Depreciation expense, 2021
$
PLEASE SHOW ALL WORK.
explanation very appreciated
Blue Company purchased a computer for $9,760 on January 1, 2019. Straight-line depreciation is used, based on a 5-year life and a $1,220 salvage value. In 2021, the estimates are revised. Blue now feels the computer will be used until December 31, 2022, when it can be sold for $610. Compute the 2021 depreciation. (Round answer to 0 decimal places, e.g. 45,892.) Depreciation expense, 2021
x Your answer is incorrect. Wildhorse Company purchased a computer for $9,440 on January 1, 2019. Straight-line depreciation is used, based on a 5-year life and a $1,180 salvage value. On January 1, 2021, the estimates are revised. Wildhorse now feels the computer will be used until December 31, 2022, when it can be sold for $590. Compute the 2021 depreciation. (Round answer to 0 decimal places, e.g. 45,892.) Depreciation expense, 2021 $ 2478 eTextbook and Media
CALCULATOR FULL SCREEN PRINTER VERSION BACK NEXT Brief Exercise 11-7 Sweet Company purchased a computer for $8,480 on January 1, 2016. Straight-line depreciation is used, based on a 5 year life and a $1,060 salvage value. In 2018, the estimates are revised. Sweet now feels the computer will be used until December 31, 2019, when it can be sold for $530. Compute the 2018 depreciation. (Round answer to 0 decimal places, e.g. 45,892.) Depreciation expense, 2018 LINK TO TEXT
Sunland Company purchased a hot tub for $11,210 on January 1, 2016. Straight-line depreciation is used, based on a 6-year life and a $1,790 salvage value. In 2018, the estimates are revised. Sunland now feels the hot tub will be used until December 31, 2020, when it can be sold for $840. Compute the 2018 depreciation. Depreciation expense, 2018
Brief Exercise 22-5 Blossom Company purchased a computer system for $78,800 on January 1, 2016. It was depreciated based on a 8-year life and an $16,800 salvage value. On January 1, 2018, Blossom revised these estimates to a total useful life of 4 years and a salvage value of $10,200. Blossom uses straight-line depreciation. Prepare Blossom's entry to record 2018 depreciation expense. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is...
Danish Inc purchased a computer on January 1, 2019, for $1,600,000. The straight-line method of depreciation was used, based on an expected life of 6 years and a residual value of $130,000. Prepare the journal entries to record depreciation for the first 6 months of 2021 and the sale of the computer on July 1, 2021, for $1,000,000.
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