Homework Answers
| Asset | Cost | Estimated Salvage | Depreciable | Estimated Life | Depreciation Per Year |
| A | 44,700.00 | 5,500.00 | 39,200.00 | 10.00 | 3,920.00 |
| B | 32,400.00 | 4,500.00 | 27,900.00 | 9.00 | 3,100.00 |
| C | 35,000.00 | 3,500.00 | 31,500.00 | 9.00 | 3,500.00 |
| D | 20,000.00 | 1,800.00 | 18,200.00 | 7.00 | 2,600.00 |
| E | 23,900.00 | 2,900.00 | 21,000.00 | 6.00 | 3,500.00 |
| 156,000.00 | 18,200.00 | 137,800.00 | 16,620.00 |
Composite Life = 137,800/16,620 = 8.29 Years
Composite Rate = 16,620/156,000 = 10.65%
| Debit | Credit | |
| Depreciation Expense | 16,620.00 | |
| Accumulated Depreciation - Plant Assets | 16,620.00 |
| Debit | Credit | |
| Cash | 5,300.00 | |
| Accumulated Depreciation - Plant Assets | 14,700.00 | |
| Plant Assets | 20,000.00 |
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Presented below is information related to Sunland Manufacturing
Corporation.
Asset
Cost
Estimated Salvage
Estimated Life (in years)
A
$41,600
$5,900
10
B
34,000
4,300
9
C
36,500
4,100
9
D
19,800
2,300
7
E
24,400
3,100
6
Your answer is incorrect. Try again.
Compute the rate of depreciation per year to be applied to the
plant assets under the composite method. (Round answer
to 2 decimal place, e.g. 4.83%.)
Composite rate
enter the composite rate in percentages rounded...
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Asset
Cost
Estimated Salvage
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A
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B
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9
C
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9
D
19,800
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E
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6
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