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Assignment #2 QS 9-1 Cost of PPE LO1 Sydney Lanes, a local bowling alley, installed automatic scorekeeping equipment. The electrical work required to prepare
Assignment #2 QS 9-1 Cost of PPE LO1 Sydney Lanes, a local bowling alley, installed automatic scorekeeping equipment. The electrical work required to prepare for the installation was $18,000. The invoice price of the equipment was $180.000 Additional costs were $3.000 for delivery and $600 for insurance during transportation. During the installation, a component of the equipment was damaged because it was carelessly left on a lane and h by the automatic lane cleaning machine. The cost of repairing the component was $2.250. What is the cost that should be capitalized of the automatic scorekeeping equipment? QS 9-5 Calculating depreciation-straight-line L02 On January 2, 2017, Crosstre acquired sound equipment for concert performances at a cost of $55,900 The rock band estimated that it would use this equipment for four years and then sell the equipment for $1,900 Calculate depreciation for each year of the sound equipments estimated the using the straight line method. Crossfire's year-end is December 31. QS 9-6 Calculating depreciation-units-of-production LO2 Papaya, a specialty greeting card company, purchased a photocopier costing $45,000 on January 1 2017. The equipment is expected to produce a total of 4,000,000 copies over its productive residual value at the end of its useful ite is estimated to be $5.000. The equipment actualy produced 2017 2018 2019 2020 2021 650,000 798,000 424,000 435,000 1.143,000 Click here for a description of Table OS Calculate depreciation for 2017 through to 2021 using the units of production method. Papaya's year-end in December 31. QS 9-7 Calculating depreciation-double-declining-balance LO2 Patty's Ples acquired a delivery truck on January 1, 2017, for $86.000. It is expected to last five years and then sell for about $16.000 Calculate depreciation for each year of the truck's Be using the double- declining balance method. Patty's Pies year-end is December 31. QS 9-15 Disposal of PPE LO6 Huang Furniture Company showed the following adjusted account balances on September 30, 2017. Click here for a description of List: OS 9-15. Prepare the entries to record the following on October 1, 2017: a Equipment was sold for cash of $17,000. b. Machinery was sold for cash of $27,000. Delivery truck was sold for cash of $11,000 d. Furniture was given to a charity 16.000 3000 33,000 3000 25.000
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