Question

Required: 1. Use your spreadsheet to recalculate Depreciation Expense, Accumulated Depreciation, and the Book Value for Year 6 under each method. Note your revised values below. Double-Declining- Balance Activity-Based Straight-Line Depreciation Expense Accumulated Depreciation 16,711 S 14,100 $ 18,612 18,612 wwww 14,100 16,711 Book Value 112,800 112,800 .. 112,800 2. Prepare the journal entry to record depreciation in Year 6 for each of the methods. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet 1 2 3 Record the Depreciation Expense for the period under the straight-line method.

3. Record the Depreciation Expense for the period under the double-declining-balance method.

4.Record the Depreciation Expense for the period under the activity-based method.

Answer 1

Answer → Prepare the Journal entry to record depreciation in year for each of the methods I. Record the Depreciation Expense for the period under the straight line method : Journal entry Date / particulars Debit credit Iyear 6 14100 14100 Depreciation Expense ale Accumulated Depreciation alc ( Being Depreciation Expense recorded 2. Record the Depreciation Expense for the period under the Double Declining Balance method :- Tournal Entry Debit credit Date I particulars year 6 16711 16711 Depreciation Expense alc Accumulated Depreciation aic ( Being Depreciation Expense recorded)

3. Record the Depreciation Expense for the period under the activity-based method Journal Entry Date Particulars Debit credit Year6 18612 19612 Depreciation Expense alc Accumulated Depreciation at (Being Depreciation Expense recorded