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Help Save & CH Required information The following information applies to the questions displayed below.) Complete the requirements for each of the following independent cases: Sanders Company purchased the following on January 1, 2019: Office equipment at a cost of $52,000 with an estimated useful life to the company of three years and a residual value of $15,500 The company uses the double-declining balance method of depreciation for the equipment Factory equipment at an invoice price of $775,600 plus shipping costs of $31,000. The equipment has an estimated useful life of 109,000 hours and no residual value. The company uses the units-of-production method of depreciation for the equipment - A patent at a cost of $429,000 with an estimated useful life of 13 years. The company uses the straight-line method of amortization for intangible assets with no residual value. The company's year ends on December 31 Required: 1-a. Prepare a partial depreciation schedule of office equipment for 2019, 2020, and 2021. 1-b. Prepare a partial depreciation schedule of factory equipment. The company used the equipment for 8,900 hours in 2019,10,100 hours in 2020, and 9,800 hours in 2021. 2. On January 1 2022, Sanders altered its corporate strategy dramatically. The company sold the factory equipment for $672,020 in cash. Record the entry related to the sale of the factory equipment. 3. On January 1, 2022, when the company changed its corporate strategy, its patent had estimated future cash flows of $305,000 and a fair value of $280,000. What would the company report on the income statement (account and amount) regarding the patent on January 1, 2022? Complete this question by entering your answers in the tabs below. Reg 1a Req 16 Reg 2 Reg 3 Naut Help Parnament a ninunira nirante Crinn Feren in unmannean acron can Required information Vi 14 4 AN LG M ta v V 4 v sau 4 + N H. of 5 The company's year ends on December 31. Required: 1-a. Prepare a partial depreciation schedule of office equipment for 2019, 2020, and 2021 1-b. Prepare a partial depreciation schedule of factory equipment. The company used the equipment for 8,900 hours in 2019,10,100 hours in 2020, and 9,800 hours in 2021. 2. On January 1, 2022, Sanders altered its corporate strategy dramatically. The company sold the factory equipment for $672,020 in cash. Record the entry related to the sale of the factory equipment 3. On January 1, 2022, when the company changed its corporate strategy, its patent had estimated future cash flows of $305,000 and a fair value of $280,000. What would the company report on the income statement (account and amount) regarding the patent on January 1, 2022? ok Complete this question by entering your answers in the tabs below. ances Req la Reg 1b Reg 2 Reg 3 Prepare a partial depreciation schedule of office equipment for 2019, 2020, and 2021. (Do not round Intermediate calculations.) Year Depreciation Expense Accumulated Depreciation Net Book Value 12019 2020 2021 Reg 1 > 6 of 7 SIIVOU. The company's year ends on December 31. Required: 1-a. Prepare a partial depreciation schedule of office equipment for 2019, 2020, and 2021 1-b. Prepare a partial depreciation schedule of factory equipment. The company used the equipment for 8.900 hours in 2019,10,100 hours in 2020, and 9,800 hours in 2021. 2. On January 1, 2022, Sanders altered its corporate strategy dramatically. The company sold the factory equipment for $672.020 in cash. Record the entry related to the sale of the factory equipment 3. On January 1, 2022, when the company changed its corporate strategy, its patent had estimated future cash flows of $305,000 and a fair value of $280,000. What would the company report on the income statement (account and amounts regarding the potent on January 1, 2022? Complete this question by entering your answers in the tabs below. Req la R$ 16 Req 2 Reg 3 Prepare a partial depreciation schedule of factory equipment. The company used the equipment for 8,900 hours in 2019, 10,100 hours in 2020, and 9,800 hours in 2021. (Do not round intermediate calculations.) Depreciation Accumulated Net Book Your Expense Depreciation Value 2019 2020 2021 6 of 7 Next > nd of Week HW c Saved Required information Regla Req 1b Reg 2 Reg 3 On January 1, 2022, when the company changed its corporate strategy, its patent had estimated future cash flows of $305,000 and a fair value of $280,000. What would the company report on the income statement (account and amount) regarding the patent on January 1, 2022?
