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nonmonetary exchange and depreciation can you help with these two thank yoyv 22. Wonmonetery erchamgr. alresdy bees updeted. Istretilens recorded for Building M on Hodge's

nonmonetary exchange and depreciation
can you help with these two
thank yoyv
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image text in transcribed
22. Wonmonetery erchamgr. alresdy bees updeted. Istretilens recorded for Building M on Hodge's bocki. (Round is the beureat dollie.) 23. Calculete deprecietion. Inveretiens Calculate the depreciutice expense (to the neareit dollin) by each of the following methodi, abowing the figmbs mod (i) Streight-line for 2010 (b) Double-dectining balince for 2011 (c) Sum-of Ahe-yenr'-digits for 2011 22. Nonmonetary exchange. Hodge Co, exchanged Building 24 which has an appraised value of $3,200,000, a cost of $5,060,000, and accumulated depreciation of $2,400,000 for Building M belonging to Fine Co. Building M has an appraised value of $3,008,000, a cost of $6,020,000, and accumulated depreciation of $3,168,000. The correct amount of cash was also paid. Assume depreciation has already been updated. Instructions Prepare the entries on both companies' books assuming the exchange had no commercial substance. Show a check of the amot recorded for Building M on Hodge's books. (Round to the nearest dollar.) 23. Calculate depreciation. A machine cost $500,000 on April 1, 2010. Its estimated salvage value is $50,000 and its expected life is eight years. Instructions Calculate the depreciation expense (to the nearest dollar) by each of the following methods, showing the figuris used. (a) Straight-line for 2010 (b) Double-declining balance for 2011 (c) Sum-of-the-years'-digits for 2011

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