Equipment was acquired on January 1, 2018 at a cost of $78,300. The equipment was originally estimated to have a salvage value of $5,040 and an estimated life of 10 years. Depreciation has been recorded through December 31, 2021 using the straight-line method. On January 1, 2022, the estimated salvage value was revised to $7,440 and the useful life was revised to a total of 10 years. Determine the depreciation expense for 2022. (Round answer to o decimal place, e.g. 1500.) Depreciation expense for 2022 $ Click if you would like to show Work for this question Open Show Work Pina Colada Corp purchased a new machine on October 1, 2022 at a cost of $83,200. The company estimated that the machine has a salvage value of $6,400. The machine is expected to be used for 64,000 working hours during its 3-year life Compute depreciation using the following methods in the year indicated Straight-line for 2022 and 2023, assuming a December 31 year-end. (Round answers to o decimal place, c.9. 1520.) 2022 2023 Straight-line method 5 5 Declining balance using double the straight-line rate for 2022 and 2023. 2022 2023 Declining-balance method 5 $ Units-of-activity for 2022, assuming machine usage was 2,320 hours. (Round depreciation per unit to the nearest cent.) Units of activity method 2022 5 Click if you would like to Show Work for this question: Open Show Work Pharoah Company received a notice with its bank statement that the bank had collected a note receivable for $24.200 plus $800 of interest. The bank bad credited these amounts to Pharoah's account. Pharoah Company had already accrued the interest for this note on its books. How will these items affect Pharoah Company's bank reconciliation Effect on cash balance per books Item Note receivable Interest SHOW LIST OF ACCOUNTS Prepare the journal entry that Pharoah Company will make to record this information on its books. (Credit account tities are automatically indented when the amount is entered. Do not Indent manually) Account Titles and Explanation Debit Credit Click if you would like to Show Work for this question: Open Show Work Oriole Company uses the straight-line method of depreciation. The company's fiscal year and is December 31. The following transacions occurred aung 2024 lan 1 Purchased equipment from the Pina Colada Corp. for $32,500 plus sales tax of 52,925 and shipping costs of $555 May 13 incurred $364 routine maintenance on the equipment. Dec 31 Recorded 2022 depreciation on the basis of a 3-year life and estimated salvage value of $12.610. Prepare the necessary entries. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit Click if you would like to show Work for this question: Open Show Work
