Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

PLEASE ANSWER ALL QUESTIONS!! #2, #5, & #7 Cala Manufacturing purchases land for $425,000 as part of its plans to build a new plant. The

PLEASE ANSWER ALL QUESTIONS!! #2, #5, & #7
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
Cala Manufacturing purchases land for $425,000 as part of its plans to build a new plant. The company pays $25,600 to tear down an old building on the lot and $37,843 to fill and level the lot. it also pays construction costs of $1,332,800 for the new building and $84,130 for lighting and paving a parking area. Prepare a single joumal entry to record these costs incurted by Cala, all of which are paid in cash Journal entry worksheet Apex Fitness Club uses straight line deprecistion for a machine costing $19,700, with an estimated four-yeor life and a $2,100 salvage 1. Compute the machine's book value at tho end of its second yeat 2. Compute the amount of depreciation for each of the final thece years given the revised estimates. Complete this question by entering your answers in the tabs below. Compute the amount of deprectation for each of the firal three vears given the revised estimates. Apex fitness Club uses straight-line depreciation for a machine costing $19,700, with an estimated four-year life and a $2:100 saivage value. At the beginining of the third yeoc, Apex dotermines that the machine has three more years of remaining useful life, ofter which it will hove an estimoted $1,650 solvage value. 1. Compute the machine's book value at the end of its second year 2. Compute the amount of depreciation for each of the final three years given the revised estimates. Complete this question by entering your answers in the tabs below. Compute the machine's book value at the end of its second yeac. Note: Do not round intermediate calculations. Round rour final answers to the nearest whole dollar- Required information The following information applies fo the questions displiayed beilow] Newiech purchases computer equipment for $272,000 to use in operating activities for the next four years it estimates the equipment's salvage value at $20,000 repare a table showing depreciation and book value for each of the four years assuming straight-line depreciation. Cala Manufacturing purchases land for $425,000 as part of its plans to build a new plant. The company pays $25,600 to tear down an old building on the lot and $37,843 to fill and level the lot. it also pays construction costs of $1,332,800 for the new building and $84,130 for lighting and paving a parking area. Prepare a single joumal entry to record these costs incurted by Cala, all of which are paid in cash Journal entry worksheet Apex Fitness Club uses straight line deprecistion for a machine costing $19,700, with an estimated four-yeor life and a $2,100 salvage 1. Compute the machine's book value at tho end of its second yeat 2. Compute the amount of depreciation for each of the final thece years given the revised estimates. Complete this question by entering your answers in the tabs below. Compute the amount of deprectation for each of the firal three vears given the revised estimates. Apex fitness Club uses straight-line depreciation for a machine costing $19,700, with an estimated four-year life and a $2:100 saivage value. At the beginining of the third yeoc, Apex dotermines that the machine has three more years of remaining useful life, ofter which it will hove an estimoted $1,650 solvage value. 1. Compute the machine's book value at the end of its second year 2. Compute the amount of depreciation for each of the final three years given the revised estimates. Complete this question by entering your answers in the tabs below. Compute the machine's book value at the end of its second yeac. Note: Do not round intermediate calculations. Round rour final answers to the nearest whole dollar- Required information The following information applies fo the questions displiayed beilow] Newiech purchases computer equipment for $272,000 to use in operating activities for the next four years it estimates the equipment's salvage value at $20,000 repare a table showing depreciation and book value for each of the four years assuming straight-line depreciation

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Horngrens Cost Accounting A Managerial Emphasis

Authors: Srikant Datar, Madhav Rajan

16th Global Edition

1292211547, 9781292211541

More Books

Students also viewed these Accounting questions

Question

Discuss the five steps that can be used to conduct a task analysis

Answered: 1 week ago

Question

Discuss the purpose and advantages of conducting a needs assessment

Answered: 1 week ago