Question

Weygandt, Accounting Principles, 13e Help System Announcements Exercise 10-08 a b (Part Level Submission) (Video) Terry Wade, the new controller of Swifty Company, has reviewed the expected useful lives and salvage values of sel Date Type of Asset Acquired Building 1/1/14 Warehouse 1/1/15 Cost $830,000 102,000 Accumulated Depreciation 1/1/20 $118,350 19,240 Useful life in Years Old Proposed 40 50 25 2 0 Salvage Value Old Proposed $41,000 $64,850 5,800 12,260 All assets are depreciated by the straight line method. Swifty Company uses a calendar year in preparing annual financ Study Compute the revised annual depreciation on each asset in 2020. Building Warehouse Revised annual depreciation 4700 By accessing this question Assistance, you will learn while you earn points based on the Point Potential Policy set by your The parts of this questo ust be cooled in order. This part will be available when you complete the part above

Answer 1

A B Building 8,30,000 $ Warehouse 1 Particulars 2 Cost 1,02,000 Less: Accumulated 3 depreciation 4 Depreciable Value 5 Less: Proposed salvage value $ 6 Balance Depreciable amount 7 Proposed usefull 8 Life used till now 1,18,350 $ $ 19,240 7,11,650 $ 64,850 $ 6,46,800 $ 82,760 12,260 $ 70,500 50 20 5 9 Remaining new useful life 44 15 Revised annual depreciation (Balance depreciable amount / remaining new useful life) $646800 44 $70,500/15 $14,700 $4,700 10 11 Revised annual depreciation 14,700 $ $ 4,700

A В Warehouse 102000 Building 830000 1 Particulars 2 Cost Less: Accumulated depreciation 118350 19240 4 Depreciable Value 5 Less: Proposed salvage value 6 Balance Depreciable amount 7 Proposed usefull 8 Life used till now =B2-B3 64850 =B4-B5 -C2-C3 12260 ЕC4-C5 20 50 6 5 |ЕC7-С8 9 Remaining new useful life =B7-B8 Revised annual depreciation (Balance depreciable amount / remaining new useful life) $646800 44 $14,700 $70,500/15 -$4,700 10 11 Revised annual depreciation 4700 14700 1