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Homy Ice Cream Company bought a new ice cream maker at the beginning of the year at a cost of $9,800. The estimated useful life
Homy Ice Cream Company bought a new ice cream maker at the beginning of the year at a cost of $9,800. The estimated useful life was four years, and the residual value was $1,100. Assume that the estimated productive life of the machine was 10,000 hours. Actual annual usage was 3,700 hours in year 1; 3,000 hours in year 2; 2,600 hours in year 3; and 700 hours in year 4. Required: 1-a. Complete a separate depreciation schedule by using Straight-line method. (Round your answers to the nearest dollar amount. Make sure that the carrying amount at the end of year 4 is equal to the residual value. Depreciation expense for the last period should be calculated as Carrying value of 3rd year minus residual value.) 1-b. Complete a separate depreciation schedule by using Units-of-production method. (Round your answers to the nearest dollar amount. Make sure that the carrying amount at the end of year 4 is equal to the residual value. Depreciation expense for the last period should be calculated as Carrying value of 3 rd year minus residual value.) 1-c. Complete a separate depreciation schedule by using Double-declining-balance method. (Round your answers to the nearest dollar amount. Make sure that the carrying amount at the end of year 4 is equal to the residual value. Depreciation expense for the last period should be calculated as Carrying value of 3 rd year minus residual value.) FedEx Corporation is a global leader in express distribution. It has the world's largest fleet of all-cargo aircraft and thousands of vehicles, trailers and electric-powered autonomous delivery robots (bots) and drones to pick up and deliver packages. These bots and drones are used primarily for the "last mile (or kilometre) of delivery" in the most environmentally sustainable and cost-effective way. Assume that FedEx sold some of its robots as part of a modernization process. The bots had been used in the business for three years. The records of the company reflect the following (in millions): Required: 1. Prepare the journal entry to record the disposal of the fleet of bots and the related transaction effects, assuming that the sales price was (a) $12, (b) $13, or (c) $10. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) 1 Record the disposal of the truck assuming that the sales price was $12. 2 Record the disposal of the truck assuming that the sales price was $13. 3 Record the disposal of the truck assuming that the sales price was $10. Note : O= journal entry has been entered Journal entry worksheet Record the disposal of the truck assuming that the sales price was $12. Note: Enter debits before credits
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