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CH 9 Problem 9-14B Partial-period depreciation; disposal of PPE LO2,3,6 CHECK FIGURES: 1. Accum. Deprec.= $42,175; 2. Accum. Deprec. = $33,082; 3. Accum. Deprec. =
CH 9 Problem 9-14B Partial-period depreciation; disposal of PPE LO2,3,6 CHECK FIGURES: 1. Accum. Deprec.= $42,175; 2. Accum. Deprec. = $33,082; 3. Accum. Deprec. = $48,300 Every Where Development Co. showed the following selected PPE balances on January 31, 2017: Van Accumulated depreciation, van. Machinery.. Accumulated depreciation, machinery2. Equipment Accumulated depreciation, equipment. $64,400 40,600 128,800 20,440 75,600 44,800 Remaining estimated useful life is 40,000 kilometres with a residual value of $9,800; depreciated using the units-of-production method. 2 Total estimated useful life is 10 years with a residual value of $16,800; depreciated using the double-declining-balance method to the nearest whole month 3 Remaining estimated useful life is three years with a residual value of $5,600; depreciated using the straight-line method to the nearest whole month. Required Prepare the entries to record the following disposals: 1. The van was sold on March 2, 2017, for cash of $17,920. It had been driven 4,500 kilometres from January 31, 2017, to the date of sale. 2. The machinery was sold on August 27, 2017, for cash of $95,718. 3. The equipment was sold on June 29, 2017, for cash of $27,720.
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