Newbirth Coatings Company purchased waterproofing equipment on Jan.2,2009, for 380,000. The equipment was expected to have a useful life of four years, or 8,000 operating hours, and a residual value of 36,000. The equipment was used for 3,000 hours during 2009, 2,500 hours in 2010,1,400 hours in 2011, and 1,100 hours in 2012. instructions Determine the amount of depreciation expense for the years endedDecember 31, 2009, 2010, 2011and 2012 by (a)the straight-line method, (B) the units of production method, and (c) the double-declining-balance method. Also determine the total depreciation expense for the four years by each method. The following columnar headings are suggested for recording the depreciation expense amounts. PR-10-2A obj.2 a. 2009: straight-line depreciation 86,000 PR 10-6A Amortization and depletion entries obj.4,5 b. 33,750 Data related to the acquisition of timber rights and intangible assets during the current year ended cec. 31 are as follows; a. on Dec. 31, the company determined that 20,000,000 of goodwill was impaired. b. Governmental and legal cost of 675,000 were incurred on june 30 in obtaining apatent with an estimated economic life of 10 years. Amortization is to be for one-half year. c. Timber rights on a tract of land were purchased for 1,665,000 on Feb. 16 . The stand of timber is estimated at 9,000,000 board feet. During the current year 2,400,000 board feet of timber were cut and sold. Instructions 1. Determine the amount of the amortization, depletion, or impairment for the current year for each of the foregoing items. 2. Journlize the adjusting entries to record the amortization, depletion, or impairment for each item. the years ene

Problem 10-2A Name: Section: Enter the appropriate amounts in the shaded cells below and the table will complete itself. A red asterisk (*) will appear below an incorrect amount. Calculations: Straight-line method: ( Err:511 Err:511 Units-of-production method: ) ( ) Err:511 2009 Err:511 Err:511 2010 Err:511 2011 Err:511 2012 = Err:511 per year per hour Err:511 = Err:511 @ Err:511 Err:511 = Err:511 @ Err:511 = Err:511 @ Err:511 = Err:511 @ Err:511 = Err:511 = Err:511 Err:511 Declining-balance method: x 2009 2010 2011 2012 ( ( ( Err:511 Err:511 Err:511 Err:511 Year 2009 2010 2011 2012 Total - Err:511 Err:511 Err:511 Err:511 Depreciation Expense Units-ofStraight-Line Production Method Method Err:511 Err:511 Err:511 Err:511 Err:511 Err:511 Err:511 Err:511 Err:511 Err:511 )x )x )- = Err:511 Err:511 Err:511 DecliningBalance Method Err:511 Err:511 Err:511 Err:511 Err:511 Err:511 = Err:511 = Err:511 Problem 10-6A Name: JOHN ONEAL Section: AC116-02 Enter the appropriate amount or account in the shaded cells. An asterisk (*) will appear next to an incorrect item or amount in the outlined cells. 1. a. Amount of amortization, depletion or impairment: Err:511 b. Amount of amortization, depletion or impairment: Err:511 c. Amount of amortization, depletion or impairment: Err:511 2. Err:511 Err:511 Err:511 Err:511 Err:511 Err:511 Err:511 JOURNAL Description a. Loss on Impairment of Goodwill Goodwill b. Amortization Expense - Patents c. Debit Err:511 Err:511 Err:511 Err:511 Err:511 Err:511 Err:511 Err:511 Err:511 Credit Err:511 Err:511 Err:511 Err:511 Err:511 Err:511 Err:511 Err:511 Err:511 Err:511 Err:511 Err:511 Err:511 Err:511 Err:511 Err:511 Err:511 Err:511