At December 31, 2017, Cord Company's plant asset and accumulated depreciation and amortization accounts had balances as follows:
Category | Plant Asset | Accumulated Depreciation and Amortization |
|||||
Land | $ | 173,000 | $ | — | |||
Buildings | 1,400,000 | 326,900 | |||||
Machinery and equipment | 1,025,000 | 315,500 | |||||
Automobiles and trucks | 170,000 | 98,325 | |||||
Leasehold improvements | 212,000 | 106,000 | |||||
Land improvements | — | — | |||||
Depreciation methods and useful lives:
Buildings—150% declining balance; 25 years.
Machinery and equipment—Straight line; 10 years.
Automobiles and trucks—150% declining balance; 5 years, all
acquired after 2014.
Leasehold improvements—Straight line.
Land improvements—Straight line.
Depreciation is computed to the nearest month and residual values
are immaterial. Transactions during 2018 and other
information:
Required:
1. Prepare a schedule analyzing the changes in each of the plant asset accounts during 2018. Do not analyze changes in accumulated depreciation and amortization.
Prepare a schedule analyzing the changes in each of the plant asset accounts during 2018. Do not analyze changes in accumulated depreciation and amortization.
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2. For each asset category, prepare a schedule showing depreciation or amortization expense for the year ended December 31, 2018.
For each asset category, prepare a schedule showing depreciation or amortization expense for the year ended December 31, 2018. (Do not round intermediate calculations. Round your final answers to nearest whole dollar.)
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At December 31, 2017, Cord Company's plant asset and accumulated depreciation and amortization accounts had balances...
At December 31, 2017, Cord Company's plant asset and accumulated depreciation and amortization accounts had balances as follows: Accumulated Depreciation and Amortization Category Land Buildings Machinery and equipment Automobiles and trucks Leasehold improvements Land improvements Plant Asset $ 176,000 1,550,000 1,175,000 173,000 218,000 329,900 318,500 101,325 109,000 Depreciation methods and useful lives: Buildings-150% declining balance; 25 years. Machinery and equipment-Straight line; 10 years. Automobiles and trucks-150% declining balance; 5 years, all acquired after 2014. Leasehold improvements-Straight line. Land improvements-Straight line....
At December 31, 2017, Cord Company's plant asset and accumulated depreciation and amortization accounts had balances as follows: Category Plant Asset Accumulated Depreciation and Amortization Land $ 167,000 $ — Buildings 1,100,000 320,900 Machinery and equipment 725,000 309,500 Automobiles and trucks 164,000 92,325 Leasehold improvements 200,000 100,000 Land improvements — — Depreciation methods and useful lives: Buildings—150% declining balance; 25 years. Machinery and equipment—Straight line; 10 years. Automobiles and trucks—150% declining balance; 5 years, all acquired after 2014. Leasehold improvements—Straight...
At December 31, 2017, Cord Company's plant asset and accumulated depreciation and amortization accounts had balances as follows: Accumulated Depreciation Category Land Buildings Machinery and equipment Automobiles and trucks Leasehold improvements Land improvements Plant Asset 185,00e 2,808,600 1,625,000 182,000 236,000 and Amortizati 338,980 327,500 110,325 118,888 Depreciation methods and useful lives Buildings-150% declining balance, 25 years. Machinery and equipment-Straight line, 10 years. Automobiles and trucks-150% declining balance: 5 years, all acquired after 2014. Leasehold improvements-Straight line Land improvements -Straight line...
At December 31, 2020, Cord Company's plant asset and accumulated depreciation and amortization accounts had balances as follows: Category Plant Asset Accumulated Depreciation and Amortization Land $ 170,000 $ — Buildings 1,250,000 323,900 Equipment 875,000 312,500 Automobiles and trucks 167,000 95,325 Leasehold improvements 206,000 103,000 Land improvements — — Depreciation methods and useful lives: Buildings—150% declining balance; 25 years. Equipment—Straight line; 10 years. Automobiles and trucks—200% declining balance; 5 years, all acquired after 2017. Leasehold improvements—Straight line. Land improvements—Straight line....
At December 31, 2015, Cord Company's plant asset and accumulated depreciation and amortization accounts had balances as follows: JUST NEED AUTO ANSWER MARKED IN RED RESOLVED. At December 31, 2015, Cord Company's plant asset and accumulated depreciation and amortization accounts had balances as follows: Category Land Buildings Machinery and equipment Automobiles and trucks Leasehold improvements Land improvements Plant Asset $ 169,000 1,200,000 825,000 166,000 204,000 Accumulated Depreciation and Amortization $ - 322,900 311,500 94,325 102,000 Depreciation methods and useful lives:...
At December 31, 2020, Cord Company's plant asset and accumulated depreciation and amortization accounts had balances as follows: Category Land Buildings Equipment Automobiles and trucks Leasehold improvements Land improvements Plant Asset $ 178,000 1,650,000 1,275,000 175,000 Accumulated Depreciation and Amortization $ - 331,900 320,500 103,325 222,000 111,000 Depreciation methods and useful lives: Buildings—150% declining balance; 25 years. Equipment-Straight line; 10 years. Automobiles and trucks—200% declining balance; 5 years, all acquired after 2017. Leasehold improvements-Straight line. Land improvements-Straight line. Depreciation is...
At December 31, 2020, Cord Company's plant asset and accumulated depreciation and amortization accounts had balances as follows: Category Land Buildings Equipment Automobiles and trucks Leasehold improvements Land improvements Plant Asset $ 185,000 2,000,000 1,625,000 182,000 Accumulated Depreciation and Amortization $ - 338,900 327,500 110,325 236,000 118,000 Depreciation methods and useful lives: Buildings—150% declining balance; 25 years. Equipment-Straight line; 10 years. Automobiles and trucks-200% declining balance; 5 years, all acquired after 2017. Leasehold improvements—Straight line. Land improvements-Straight line. Depreciation is...
At December 31, 2020, Cord Company's plant asset and accumulated depreciation and amortization accounts had balances as follows: Category Plant Asset Accumulated Depreciation and Amortization Land $ 185,000 $ — Buildings 2,000,000 338,900 Equipment 1,625,000 327,500 Automobiles and trucks 182,000 110,325 Leasehold improvements 236,000 118,000 Land improvements — — Depreciation methods and useful lives: Buildings—150% declining balance; 25 years. Equipment—Straight line; 10 years. Automobiles and trucks—200% declining balance; 5 years, all acquired after 2017. Leasehold improvements—Straight line. Land improvements—Straight line....
At December 31, 2020, Cord Company's plant asset and accumulated depreciation and amortization accounts had balances as follows: Accumulated Depreciation and Amortization Category Land Buildings Equipment Automobiles and trucks Leasehold improvements Land improvements Plant Asset $ 165,000 1,000,000 625,000 162,000 196,000 318,900 307,500 90,325 98,000 Depreciation methods and useful lives: Buildings—150% declining balance; 25 years. Equipment-Straight line; 10 years. Automobiles and trucks-200% declining balance; 5 years, all acquired after 2017. Leasehold improvements-Straight line. Land improvements-Straight line. Depreciation is computed to...
Check my work At December 31, 2017, Cord Company's plant asset and accumulated depreciation and amortization accounts had balances as follows: Accumulated Depreciation and Amortization Category Land Buildings Machinery and equipment Automobiles and trucks Leasehold improvements Land improvements Plant Asset $ 167, eee 1,100,000 725,000 164,000 200,000 320,909 309,500 92,325 100,000 Depreciation methods and useful lives: Buildings--150% declining balance: 25 years. Machinery and equipment-Straight line: 10 years. Automobiles and trucks-150% declining balance, 5 years, all acquired after 2014 Leasehold improvements-Straight...