INSTRUCTIONS: Solve each of the following problems and record the answers in the Answers column.

13. Equipment costing $250,000 is sold for $60,000.
1.... If the accumulated depreciation was $150,000, the amount of gain or loss (G or L) is	$

2.... If the accumulated depreciation was $200,000, the amount of gain or loss (G or L) is	$
3.... If the accumulated depreciation was $250,000, the amount of gain or loss (G or L) is	$
4.... A patent with a cost of $200,000 has an estimated useful life of 10 years and a legal life of 20 years. The annual amortization is	$
57.... Machinery acquired on the first day of the current fiscal year for $550,000 has an estimated useful life of 5 years or 50,000 hours and a residual value of $0. Determine the depreciation for the current year by each of the following methods:
5.... Straight-line	$
6.... Double-declining-balance	$
7.... Units-of-production (the equipment was used for 5,000 hours during the year)	$
89.... Based on the data in Question 57, and assuming that the machinery was used for 10,000 hours in the second year, determine the depreciation for the second year by each of the following methods:
8.... Double-declining-balance	$
9.... Units-of-production	$
1011... Based on the data in Question 57, and assuming that the machinery was used for 5,500 hours in the third year, determine the depreciation for the third year by each of the following methods:
10.... Double-declining-balance	$
11.... Units-of-production	$