pter 10: In-Class Activity 2 On January 1, the Matthews Band pays $68,400 for sound equipment. The band estimates it will use this equipment for four years and perform 200 concerts. It estimates that after four years it can sell the equipment for $1.000. During the first year, the band performs 45 concerts Compute the first-year depreciation using the units of production method. Production Book int Calculate the first year depreciation expense: Depreciation per concert Concerts in first year Depreciation in first year as LIDL CUSS ALVEU 3 A building is acquired on January 1, at a cost of $860,000 with an estimated useful life of 10 years and salvage value of $71,400 Compute depreciation expense for the first three years using the double-deciring-balance method. (Round your answers to the nearest dollar) 16.66 points Ende Period Den Beginning of Period Book Value for the Period Depreciation R) Experise Annual Period Accumulate Depreciation Bank Ve BOOK First Year Second Year Third Year 4 On October 1, Organic Farming purchases wind turbines for $260,000. The wind turbines are expected to last four years, have a salvage value of $32,000, and be depreciated using the straight-line method. 1. Compute depreciation expense for the last three months of the first year 2. Compute depreciation expense for the second year 1 Seragere depreciation for the last three months of the fast year 2. Stragene depreciation for the second year 5 Garcia Co. owns equipment that cost $79,600, with accumulated depreciation of $42.200 Record the sale of the equipment under the following three separate cases assuming Garcia sells the equipment for ( 549 100 cash, (2) $37,400 cash, and (3) $32,300 cash. 16.66 points Viow transaction list eBook Journal entry worksheet B Print Record the sale of equipment assuming Garcia sells the equipment for $19,100 cash. Note: Enter debts before credits Debit Credit General Journa Transaction 1 Vigala Cleary Record entry 5 Garcia Co. owns equipment that cost $79,600, with accumulated depreciation of $42200 Record the sale of the equipment under the following three separate cases assuming Garcia sells the equipment for ( 549300 cash (2) $37,400 cash, and (3) $32,300 cash 76.66 Joints View transaction list cBook Print Journal entry worksheet Perez Company acquires an ore mine at a cost of $4,200,000. It incurs additional costs of $1176,000 to access the mine, which is estimated to hold 3,000,000 tons of ore. 280,000 tons of ore are mined and sold the first year. The estimated value of the land after the ore is removed is $600,000. Calculate the depletion expense from the information given 1 & 2. Prepare the entry to record the cost of the ore mine and year-end adjusting entry Complete this question by entering your answers in the tabs below. Depletion Expense General Surnal Prepare the entry to record the cost of the ore mine and year-end adjusting entry. View transaction list Journal entry worksheet
