Acquired cost of equipment | $ 100,000 |
Less: Accumulated depreciation for 4 year (100000/10=10000) (10000*4) |
$ 40,000 |
Book value of equipment | $ 60,000 |
original cost | $ 100,000 | ||
Book value | $ 60,000 | ||
Accumulated Depreciation at the date of transfer | $ 40,000 | ||
Year | 5 | 6 | |
Depreciation expense | $ 10,000 | $ 10,000 | |
Accumulated Depreciation | $ 50,000 | $ 60,000 |
Equipment transferred | $ 66,000 | |||
Less: | Book value | $ 60,000 | ||
Gain on transfer | $ 6,000 | |||
Equipment transferred | $ 66,000 | |||
Divided by: | Remaining life at the date of transfer (In years) | 6 | ||
Depreciation expense | $ 11,000 | |||
Year | 5 | 6 | ||
Depreciation expense | $ 11,000 | $ 11,000 | ||
Accumulated Depreciation | $ 11,000 | $ 22,000 |
Accumulated Depreciation | ||||
Accumulated Depreciation after two years as per Book value | $ 60,000 | |||
Less: | Accumulated Depreciation after two years as per Equipment transferred | $ 22,000 | ||
Add in the Accumulated depreciation | $ 38,000 |
Fourth option is correct. | Credit 38,000 | ||
Accumulated depreciation would be added by credit entry of $38,000. |
Photos - Screenshot (255).png See all phalus + Add to Search > Edit & Create S...
Photos - Screenshot (255).png See all phalus + Add to Search > Edit & Create S hare 6 .. Question 2 (1 point) The Parent Company had purchased a piece of equipment for $100,000 the equipment is expected to last 10 years with no salvage. At the beginning of year 5, Parent Company sold the equipment to its wholly owned subsidiary Subbie Company for $66000. Subbie Company believes the machine will last 6 years and have no salvage. Subbie also...
Photos - Screenshot (250).png - 0% See all phalus + Add to Search > Edit & Create S hare 6 .. Question 4 (1 point) The Parent Company had purchased a piece of equipment for $100,000 the equipment is expected to last 10 years with no salvage. At the beginning of year 5, Parent Company sold the equipment to its wholly owned subsidiary Subbie Company for $66000. Subbie Company believes the machine will last 6 years and have no salvage....
Photos - Screenshot (257).png See all phalus + Add to Search > Edit & Create S hare 6 .. The Parent Company had purchased a piece of equipment for $100,000 the equipment is expected to last 10 years with no salvage. At the beginning of year 5, Parent Company sold the equipment to its wholly owned subsidiary Subbie Company for $66000. Subbie Company believes the machine will last 6 years and have no salvage. Subbie also uses straight line depreciation....
Photos - Screenshot (259).png See all phalus + Add to Search X Edit & Creale Share 8 ... Page 1: The Parent Company had purchased a piece of equipment for $100,000 the equipment is expected to last 10 years with no salvage. At the beginning of year 5, Parent Company sold the equipment to its wholly owned subsidiary Subbie Company for $66000. Subbie Company believes the machine will last 6 years and have no salvage. Subbie also uses straight line...
Number 4 Screenshot (15).png - Photos share . See all photos Add to a creation secured together O ate clearly. Edit & Create v Homework turned in without following above directions will be subjected to point deductions. 1) [10%] Problem 12-16 A particle is moving along a straight line with an initial velocity of 6 m/s when it is subjected to a deccleration of a = (-15v2) m/s, where v is in mis. Determine how far it travels before it...
USE JAVA PROGRAMMING LANGUAGE See all photos + Add to a ♡ Search Edit & Create Share . Benny the Barber owns a one-chair shop. They told Benny that customers are not happy with waiting in lines and not get processed in order they arrived. As computer scientist, you are going to help Benny to write a Java program to manage waiting lines and to process customers in the same order they arrive. Here are the functional requirements of the...
Photos Screerwhot (1png See all photos + Ad to O Search thare The following events occurred for Favata Company a. Received $20.000 cash from owners and issued stock to them. b. Borrowed $17,000 cash from a bank and signed a note due later this year. c. Bought and received $1,800 of equipment on account. d. Purchased land for $32,000: paid $3,000 in cash and signed a long-term note for $29,000. e. Purchased $13,000 of equipment; paid $3,000 in cash and...