QS 8-3 Straight-line depreciation LO P1

On January 2, 2017, the Matthews Band acquires sound equipment for concert performances at a cost of $65,800. The band estimates it will use this equipment for four years, during which time it anticipates performing about 200 concerts. It estimates that after four years it can sell the equipment for $2,000. During year 2017, the band performs 45 concerts.

Compute the year 2017 depreciation using the straight-line method.

6 Safari File am View History Bookmarks Window Help , l3? , e a 2.? mil:- Thu11219PM q o ' O O O i i E] a newconnecttmneducationtcom 1 ' 51 I Chp a Quick Study 0 Saved Help Save 1. Exit Submit Check my work as 8-3 Straight-line depreciation LO P1 12.5 On January 2, 2017, the Matthews Band acquires sound equipment for concert performances at a cost of $65,800. The band estimates points it will use this equipment for four years, during which time it anticipates performing about 200 concerts. It estimates that aer four years it can sell the equipment for $2,000. During year 2017, the band performs 45 concerts. skipped Compute the year 2017 depreciation using the straight-line method. Depreciation expense H\" IF. References ( Prev 5 of 8 Next > , ' Safari File Edit View History Bookmarks Window Help , , 9 L2 4;\" MEI- Thu11219PM Q o O O O El] newconneettmheducationtcum Q1 l Chp s Quick Study 0 Saved Help Save 1. Exit Submit Check my work 115 On January 4 of this year. Diaz Boutique incurs a $105,000 cost to modernize its store' Improvements include new floors. ceilings, points wiring, and wall coverings. These improvements are estimated to yield benefits for 10 years. Diaz leases its store and has eight years remaining on the lease' 05 8-12 Intangible assets and amortization L0 P4 skipped 1. l: 2. Prepare the journal entry to record the cost of modernization and amortization at the end of this current year. eEook Journal entry worksheet Him