1.A company purchased a piece of equipment for $30,000 on April 1, 2019.Management estimates salvage value of $4,000 and a useful life of five years.

Where applicable, it applies the halfyear rule.What is depreciation expense for 2019 using the doubledeclining balance method (rounded to nearest dollar)?

2.A company purchased a piece of equipment for $30,000 on May 1, 2019.Management estimates a salvage value of $4,500, a useful life of four years and estimated production output of 15,000 units.It produced 3,000 units in 2019.

Where applicable, it applies the halfyear rule.What is depreciation expense for 2019 using the straight line method (rounded to nearest dollar)?

3.The engine of a truck burned out and needed to be replaced two years after it was originally purchased.The original cost of the engine was $7,000 with a useful life of five years and salvage value of $1,000.The journal entry to record the disposal of the engine includes

4.A company purchased a piece of equipment for $30,000 on January 1, 2019.Management estimates salvage value of $3,000 and a useful life of five years.It uses the straightline method of depreciation.Where applicable, it applies the halfyear rule. On December 31, 2021 the equipment's fair value is estimated to be $3,000.What is the impairment loss for 2021

5.Paddie Inc purchased a piece of equipment for $20,000 on January 1, 2019.Management estimates salvage value of $2,000 and a useful life of five years.It uses the straightline method of depreciation.Where applicable, it applies the halfyear rule. On December 1, 2021 it disposed of the asset for $13,000 cash.What is included in the journal entry to record the disposal