Explain with full steps please Problem 9-15A Partial-period depreciation; disposal of PPE LO2, 3, 6
Problem 9-15A Partial-period depreciation; disposal of PPE LO2, 3, 6
Endblast Productions showed the following selected asset balances on December 31, 2020:
| Land | $ | 432,800 | |
| Building | 562,400 | ||
| Accumulated depreciation, building1 | 408,000 | ||
| Equipment | 189,200 | ||
| Accumulated depreciation, equipment2 | 80,000 | ||
1Remaining estimated useful life is eight years with a residual value of $20,000; depreciated using the straight-line method to the nearest whole month.
2Total estimated useful life is 10 years with a residual value of $24,000; depreciated using the double-declining-balance method to the nearest whole month.
Required:
Prepare the entries for each of the following. (Round intermediate calculations to the nearest whole dollar.)
1. The land and building were sold on September 27, 2021, for $610,000 cash.
2. The equipment was sold on November 2, 2021, for $57,700 cash.
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Explain with full steps please Problem 9-15A Partial-period depreciation; disposal of PPE LO2, 3, 6
eexplain with proper steps ans calculations Endblast Productions showed the following selected asset balances on December...
eexplain with proper steps ans
calculations
Endblast Productions showed the following selected asset balances on December 31, 2020: Land Building Accumulated depreciation, building Equipment Accumulated depreciation, equipment $428,800 558,400 406,400 187,200 81,000 "Remaining estimated useful life is eight years with a residual value of $20,000; depreciated using the straight-line method to the nearest whole month. 2Total estimated useful life is 10 years with a residual value of $24,000; depreciated using the double-declining balance method to the nearest whole month. Required:...
Problem 9-7A Calculating depreciation LO2 Use the following table: Big Sky Farms Partial Balance Sheet April...
Problem 9-7A Calculating depreciation LO2 Use the following table: Big Sky Farms Partial Balance Sheet April 30, 2020 Property, plant and equipment: Land $ 660,000 Building1 $ 750,000 Less: Accumulated depreciation 550,000 200,000 Equipment2 500,000 Less: Accumulated depreciation 212,000 288,000 Total property, plant and equipment $ 1,148,000 1The building was purchased on May 3, 2009, and is depreciated to the nearest whole month using the straight-line method. Depreciation is based on a 15-year life, after which it will be demolished...
Problem 9-18A Partial year's depreciation; alternative methods; exchange/disposal of PPE LO2, 3, 6 CHECK FIGURES: a....
Problem 9-18A Partial year's depreciation; alternative methods; exchange/disposal of PPE LO2, 3, 6 CHECK FIGURES: a. Machine 1550 - $6,075; Machine 1795 - $22.646: Machine BT-311 = $77,810 Zephyr Minerals completed the following transactions involving machinery. Machine No. 1550 was purchased for cash on April 1. 2020, at an installed cost of $52.900. Its useful life was estimated to be six years with a $4.300 trade in value. Straight-line depreciation was recorded for the machine at the ends of 2020...
Thank you for answering this, I appreciate it!! Problem 9-7A PPE costs; partial year's depreciation; alternative...
Thank you for answering this, I appreciate it!!
Problem 9-7A PPE costs; partial year's depreciation; alternative methods LO1,2,3 eXcel CHECK FIGURES: 2. $31,320; 3. $21,000 Logic Co. recently negotiated a lump-sum purch of business. The purchase was completed on March 1, 2017, at a total cash price of $1,260,000 a CHAPTER 9 Property. Plant and Equipment and Intangibles The estimated market valu 100, land improvements, $68,000, and vehicles, $176.8 included a building, land, certain land improvements, and 12 vehicles. the...
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Problem 9-8A PPE costs; partial year's depreciation; alternative methods L01, 2, 3 CHECK FIGURES: 2. $31,320;...
Problem 9-8A PPE costs; partial year's depreciation; alternative methods L01, 2, 3 CHECK FIGURES: 2. $31,320; 3. $21,000 Logic Co. recently negotiated a lump-sum purchase of several assets from a company that was going out of business. The purchase was completed on March 1, 2020, at a total cash price of $1,260,000 and included a 673 CHAPTER 9 Property. Plant, and Equipment and Intangibles bunding, land, certain land improvements and 12 vehicles. The estimated market values of the assets were...
apter 9 Lab 6 Help Save & Exit Use the following table: 25 $ 120,000 Big...
apter 9 Lab 6 Help Save & Exit Use the following table: 25 $ 120,000 Big Sky Tans Partial Balance Sheet April 30, 2020 Property. plant and equipment Land Building LASSE Accumulated depreciation Aquipment? Last Accumulated depreciation Total property, plant and equipment $728.000 572.000 660,000 279,840 156.000 900 160 $1,256,160 The building was purchased on May 3, 2009, and is depreciated to the nearest whole month using the straight-line method. Depreciation is based on a 14-year life, after which it...
А 6 Problem 9-18B Partial year's depreciation; alternative methods; exchange/disposal of PPE 102,03,06 CHECK FIGURES: 1....
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P 11-6 Depreciation methods, partial-year depreciation; sale of assets .LO11-2 On March 31, 2021, the Herzog...
P 11-6 Depreciation methods, partial-year depreciation; sale of assets .LO11-2 On March 31, 2021, the Herzog Company purchased a factory complete with vehicles and equipment. The allocation of the total purchase price of $1,000,000 to the various types of assets along with estimated useful lives and residual values are as follows: Estimated Residual Estimated Useful Asset Cost Value Life (in years) Land $ 100.000 ΝΙΑ N/A Building 500,000 none Equipment 240.000 10% of cost Vehicles 160,000 $12.000 Total $1,000,000 On...
pplease help me with the exact calculations of this sums Use the following table: $ 650,000...
pplease help me with the exact calculations
of this sums
Use the following table: $ 650,000 Big Sky Farms Partial Balance Sheet April 30, 2020 Property, plant and equipment: Land Building1 Less: Accumulated depreciation Equipment 2 Less: Accumulated depreciation Total property, plant and equipment 260,000 $975,000 715,000 750,000 318,000 432,000 $1,342,000 'The building was purchased on May 3, 2009, and is depreciated to the nearest whole month using the straight-line method. Depreciation is based on a 15-year life, after which...
eexplain with proper steps ans
calculations
Endblast Productions showed the following selected asset balances on December 31, 2020: Land Building Accumulated depreciation, building Equipment Accumulated depreciation, equipment $428,800 558,400 406,400 187,200 81,000 "Remaining estimated useful life is eight years with a residual value of $20,000; depreciated using the straight-line method to the nearest whole month. 2Total estimated useful life is 10 years with a residual value of $24,000; depreciated using the double-declining balance method to the nearest whole month. Required:...
Problem 9-18A Partial year's depreciation; alternative methods; exchange/disposal of PPE LO2, 3, 6 CHECK FIGURES: a. Machine 1550 - $6,075; Machine 1795 - $22.646: Machine BT-311 = $77,810 Zephyr Minerals completed the following transactions involving machinery. Machine No. 1550 was purchased for cash on April 1. 2020, at an installed cost of $52.900. Its useful life was estimated to be six years with a $4.300 trade in value. Straight-line depreciation was recorded for the machine at the ends of 2020...
Thank you for answering this, I appreciate it!!
Problem 9-7A PPE costs; partial year's depreciation; alternative methods LO1,2,3 eXcel CHECK FIGURES: 2. $31,320; 3. $21,000 Logic Co. recently negotiated a lump-sum purch of business. The purchase was completed on March 1, 2017, at a total cash price of $1,260,000 a CHAPTER 9 Property. Plant and Equipment and Intangibles The estimated market valu 100, land improvements, $68,000, and vehicles, $176.8 included a building, land, certain land improvements, and 12 vehicles. the...
Problem 9-8A PPE costs; partial year's depreciation; alternative methods L01, 2, 3 CHECK FIGURES: 2. $31,320; 3. $21,000 Logic Co. recently negotiated a lump-sum purchase of several assets from a company that was going out of business. The purchase was completed on March 1, 2020, at a total cash price of $1,260,000 and included a 673 CHAPTER 9 Property. Plant, and Equipment and Intangibles bunding, land, certain land improvements and 12 vehicles. The estimated market values of the assets were...
apter 9 Lab 6 Help Save & Exit Use the following table: 25 $ 120,000 Big Sky Tans Partial Balance Sheet April 30, 2020 Property. plant and equipment Land Building LASSE Accumulated depreciation Aquipment? Last Accumulated depreciation Total property, plant and equipment $728.000 572.000 660,000 279,840 156.000 900 160 $1,256,160 The building was purchased on May 3, 2009, and is depreciated to the nearest whole month using the straight-line method. Depreciation is based on a 14-year life, after which it...
А 6 Problem 9-18B Partial year's depreciation; alternative methods; exchange/disposal of PPE 102,03,06 CHECK FIGURES: 1. Machine 6690 = $10,800, Machine 6691 = $8.325: Machine 6711 = $7155 Vidéotron Ltée completed the following transactions involving printing equipment. Machine 6690 was purchased for cash on May 1, 2020, at an installed cost of $72.900. Its useful life was estimated to be four years with an $8.100 trade-in value. Straight-line depreciation was recorded for the machine at the end of 2020 and...
P 11-6 Depreciation methods, partial-year depreciation; sale of assets .LO11-2 On March 31, 2021, the Herzog Company purchased a factory complete with vehicles and equipment. The allocation of the total purchase price of $1,000,000 to the various types of assets along with estimated useful lives and residual values are as follows: Estimated Residual Estimated Useful Asset Cost Value Life (in years) Land $ 100.000 ΝΙΑ N/A Building 500,000 none Equipment 240.000 10% of cost Vehicles 160,000 $12.000 Total $1,000,000 On...
pplease help me with the exact calculations
of this sums
Use the following table: $ 650,000 Big Sky Farms Partial Balance Sheet April 30, 2020 Property, plant and equipment: Land Building1 Less: Accumulated depreciation Equipment 2 Less: Accumulated depreciation Total property, plant and equipment 260,000 $975,000 715,000 750,000 318,000 432,000 $1,342,000 'The building was purchased on May 3, 2009, and is depreciated to the nearest whole month using the straight-line method. Depreciation is based on a 15-year life, after which...
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