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HELP 1: Depreciation, amortization and depletion

Part 1. Calculate depreciation in the following cases.

1.La Rosa del Monte has a moving truck that does the big moves in the Miami area and at the end of the year has a balance of $ 88,250 with accumulated depreciation of $ 12,230. He also has a small truck that he uses in the Orlando area for $ 43,760 with accumulated depreciation of $ 7,120.

a.Determine what the depreciation is for each truck using the depreciation by units of activity method.

truck cost Estimated residual value Estimated useful life Accumulated depreciation at the beginning of the year Miles used in the year

Large truck $88,250 $17,000 230,000 miles $12,230 32,000

Small truck. 42,760 6,500 280,000 miles 7,120 27,300

2.A gamer computer has a cost of $ 3,850 with a residual of 800 and an estimated useful life of 5 years.

a.Calculate annual depreciation using the straight-line depreciation method.

b.Make the wage entries.

3.A refrigerator in a cafeteria with a shelf life of 8 years cost $ 5,250 and has no residual.

a.Calculate depreciation using the straight-line depreciation method and the declining balance method.

b.Make the wage entries for each depreciation method.

4.A sewing machine in a textile factory was purchased for $ 223,000, has an estimated residual of $ 22,000 and a useful life of 38,000 hours. It was used in the year for 4,200 hours.

a.Calculates depreciation for the year using the unit produced depreciation method, depreciable cost, and depreciation rate.

Part 2. Calculate amortization and depletion for each transaction.

1.A gold garment production company acquired the rights to a mine for $ 520,000,000. At the mine, there are an estimated 150,000,000 tons of gold. The amount of 50,000 tons was sold in the year.

a.Calculate the depletion rate and depletion expense for the year.

b.You must deliver the steps of how you got to the result.

2.A fast food business acquired the copyright to a recipe book for $ 80,000 with a useful life of 15 years.

a.Calculate amortization. You must present the calculation made.

3.A company pays a patent for $ 98,000 with a useful life of 12 years.

a.Calculate amortization. You must present the calculation made.

HELP 2: Liability transactions

Make the corresponding wage entries to report short-term liabilities.

1.Make the entries to the journal.

2.Journalizes the adjustment entries for each accrued expense at the end of the year. The cost of the product warranty is $ 7,000.

a.Journalize the remaining interest on the Home Depot account.

DateTransaction

February 2 Merchandise was purchased on credit for $ 310,000 with a term of n / 45 in Pueblo Caribe.

March 4 Aires Caribe provided Pueblo Caribe with a 5% note for $ 120,000 with a 30-day credit term.

May 6 Pueblo Caribe paid the amount of the March 4 note.

May 10 Consoles were purchased from Air Wholesale for $ 75,000 on a 90-day note with a 4% discount. With monthly payments of 25,000.

June 12 A loan (short-term note / note payable) of 30 days with 3% for $ 240,000 was requested from Banco del Pueblo.

June 15 The overdue amount of the May 10 transaction was paid. A customer bought $ 2,000 worth of merchandise for cash.

July 18 The customer who purchased merchandise on the 15th returned $ 500 worth of merchandise because it was defective. A customer made a purchase for $ 3,500 with a term of 3/40 n / 60

August 20The customer who made the purchase on July 18 paid in full with the corresponding discount.

September 30 The overdue amount of the Banco del Pueblo note of June 12 was paid.

September 30 The overdue amount of the transaction of May 10 was paid.

November 4 Tools were purchased at Home Depot for $ 75,000. $ 12,000 was paid and the remainder was divided into series of ten into 3% notes of $ 6,300 each maturing at 45-day intervals.

December 4 The first of the notes they took on November 4 was paid to Home Depot.

HELP 3: Report of long-term liabilities

Part 1. Answer the following questions of the case presented.

Los Cidros reported the following information on long-term debt:

Current yearPrevious year

Total long-term debt $ 14,578 million $ 18,564 million

Less current portion (1,290) million(1,540) million

Long-term debts 13,288 million 17,024 million

a.Determine how much total current liabilities changed between the previous year and the current year as a result of the long-term debt portion. Explain your answer in your own words.

b.Indicates the balance of the debt the following year if Los Cidros does not acquire another long-term debt in the next few years.

Part 2. Do the following exercises.

a.Bellezas del Mar purchased inventory from a large supplier. The supplier offered him a credit term of 3/10, n / 30. Indicate whether this debt is an example of an account payable, long-term or short-term debt.

b.Adopciones y Ms drew on 8 annual notes that amounted to $ 250,000 to be paid when the office it is building is completed. The company intends to pay $ 75,000 next year. What is considered that portion?

c.Pet Supply Co. issued a 65-day 7% note for $ 110,000 to Pets Co. Performs the payroll entry of the note and the entry of the note payment with interest.

d.Librera Especial issued an 80-day note at 11% for $ 2,000 in arrears. Make the payroll entries of the note and the entry with the accumulated interest.

NO MISSING INFORMATION !!!

MAKE IT IN EXCEL FOR MY BETTER UNDERSTANDING !!

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