please explain how you get depreciation expense and accumulated
depreciationHomework Answers
Journal entry
| No | Date | General Journal | Debit | Credit |
| 1 | Apr 01 | Equipment | 50400 | |
| Cash | 50400 | |||
| 2 | Dec 31 | Depreciation expense (600*9) | 5400 | |
| Accumulated depreciation-equipment | 5400 | |||
2) Balances :
Depreciation expense = $5400
Accumulated depreciation-equipment = $5400
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please explain how you get depreciation expense and accumulated
depreciation
Beaver Construction purchases new equipment for...
What i have entered is incorrect, please help! Beaver Construction purchases new equipment for $45,360 cash...
What i have entered is incorrect, please help!
Beaver Construction purchases new equipment for $45,360 cash on April 1, 2018. At the time of purchase, the equipment is expected to be used in operations for seven years (84 months) and have no resale or scrap value at the end. Beaver depreciates equipment evenly over the 84 months ($540/month). value: Required information 10.00 points 1. & 2. Record the necessary entries in the Journal Entry Worksheet below. (If no entry is...
Beaver Construction purchases new equipment for $25,800 cash on April 1, 2021. At the time of...
Beaver Construction purchases new equipment for $25,800 cash on April 1, 2021. At the time of purchase, the equipment is expected to be used in operations for five years (60 months) and have no resale or scrap value at the end. Beaver depreciates equipment evenly over the 60 months ($430/month). Required: 1.&2. Record the necessary entries in the Journal Entry Worksheet below. 3. Calculate the year-end adjusted balances of Accumulated Depreciation and Depreciation Expense (assuming the balance of Accumulated Depreciation...
Beaver Construction purchases new equipment for $34,800 cash on April 1, 2021. At the time of...
Beaver Construction purchases new equipment for $34,800 cash on April 1, 2021. At the time of purchase, the equipment is expected to be used in operations for five years (60 months) and have no resale or scrap value at the end. Beaver depreciates equipment evenly over the 60 months ($580/month). Required: 1.&2. Record the necessary entries in the Journal Entry Worksheet below. 3. Calculate the year-end adjusted balances of Accumulated Depreciation and Depreciation Expense (assuming the balance of Accumulated Depreciation...
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A company purchases new equipment for $54,000 cash on August 1, 2021. At the time of...
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What i have entered is incorrect, please help!
Beaver Construction purchases new equipment for $45,360 cash on April 1, 2018. At the time of purchase, the equipment is expected to be used in operations for seven years (84 months) and have no resale or scrap value at the end. Beaver depreciates equipment evenly over the 84 months ($540/month). value: Required information 10.00 points 1. & 2. Record the necessary entries in the Journal Entry Worksheet below. (If no entry is...
Beaver Construction purchases new equipment for $25,800 cash on April 1, 2021. At the time of purchase, the equipment is expected to be used in operations for five years (60 months) and have no resale or scrap value at the end. Beaver depreciates equipment evenly over the 60 months ($430/month). Required: 1.&2. Record the necessary entries in the Journal Entry Worksheet below. 3. Calculate the year-end adjusted balances of Accumulated Depreciation and Depreciation Expense (assuming the balance of Accumulated Depreciation...
A company purchases new equipment for $54,000 cash on August 1, 2021. At the time of purchase, the equipment is expected to be used in operations for four years (48 months) and have no resale or scrap value at the end of the four years. The company depreciates the equipment evenly over the 48 months ($1,125/month). Record the adjusting entry for depreciation on December 31, 2021. (If no entry is required for a transaction/event, select "No Journal entry required" In...
A company purchases new equipment for $24,000 cash on August 1, 2016. Al the time of purchase the opment is expected to be used in operations for four years (40 months and have no resale or scrap value at the end The company depreciate the equipment evenly over the 48 months ($500/month) Record the adjusting entry for depreciation on December 31, 2018 no entry is required for a transaction event, select "No journal entry required in the first account ed.)...
For each separate case, record an adjusting entry (if necessary). a. Barga Company purchases $36,000 of equipment on January 1. The equipment is expected to last five years and be worth $5,200 at the end of that time. b. Welch Company purchases $11,600 of land on January 1. The land is expected to last forever. Prepare the entries to record one year's depreciation expense of $6,160 for the equipment and what depreciation adjustment, if any, should be made with respect...
Check The property, plant, and equipment section of the Jasper Company's December 31, 2020, balance sheet contained the following: $116,000 Property, plant, and equipment: Land Building Less: Accumulated depreciation Equipment Less: Accumulated depreciation Total property, plant, and equipment $ 936,000 (180,00) 163,000 756,000 ? The land and building were purchased at the beginning of 2016. Straight-line depreciation is used and a residual value of $36.000 for the building is anticipated The equipment is comprised of the following three machines Life...
a. Barga Company purchases $31,000 of equipment on January 1, 2017. The equipment is expected to last five years and be worth $4,200 at the end of that time. b. Welch Company purchases $11,100 of land on January 1, 2017. The land is expected to last indefinitely Prepare the entries to record one year's depreciation expense of $5,360 for the equipment and what depreciation adjustment, if any, should be made with respect to the Land account as of December 31,...
Solich Sandwich Shop had the following long-term asset balances as of December 31, 2021: Accumulated Depreciation Land Building Equipment Patent Cost $ 83,000 448,000 250,000 190,000 $(85, 120) (47, 600) (76, 000) Book Value $ 83,000 362, 880 202, 400 114,000 Solich purchased all the assets at the beginning of 2019 (3 years ago). The building is depreciated over a 20-year service life using the double-declining-balance method and estimating no residual value. The equipment is depreciated over a 10- year...
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