question 1: Required information

[The following information applies to the questions displayed below.]

In 2019, Alliant Corporation acquired On March 31, 2021, Susquehanna Insurance purchased an office building for $10,200,000. Based on their relative fair values, one-third of the purchase price was allocated to the land and two-thirds to the building. Furniture and fixtures were purchased separately from office equipment on the same date for $1,300,000 and $800,000, respectively. The company uses the straight-line method to depreciate its buildings and the double-declining-balance method to depreciate all other depreciable assets. The estimated useful lives and residual values of these assets are as follows:

Service

LifeResidual

ValueBuilding255% of costFurniture and fixtures105% of costOffice equipment5$40,000

Required:

Calculate depreciation for 2021 and 2022.(Do not round intermediate calculations.)

Inc. for $412 million, of which $62 million was allocated to goodwill. At the end of 2021, management has provided the following information for a required goodwill impairment test:

Fair value of Centerpoint Inc.$318millionBook value of Centerpoint's net assets (excluding goodwill)288millionBook value of Centerpoint's net assets (including goodwill)350million

2.Determine the amount of the impairment loss assuming that the fair value of Centerpoint is $380 million.(Enter your answer in millions (i.e., 10,000,000 should be entered as 10)).

Impairment loss. _____________

question 2: Required information

[The following information applies to the questions displayed below.]

In 2019, Alliant Corporation acquired Centerpoint Inc. for $412 million, of which $62 million was allocated to goodwill. At the end of 2021, management has provided the following information for a required goodwill impairment test:

Fair value of Centerpoint Inc.$318millionBook value of Centerpoint's net assets (excluding goodwill)288millionBook value of Centerpoint's net assets (including goodwill)350million

Required:

1.Determine the amount of the impairment loss.(Enter your answer in millions (i.e., 10,000,000 should be entered as 10)).

impairment loss________________

Question 3:

General Optic Corporation operates a manufacturing plant in Arizona. Due to a significant decline in demand for the product manufactured at the Arizona site, an impairment test is deemed appropriate. Management has acquired the following information for the assets at the plant:

Cost$42,500,000Accumulated depreciation15,200,000General's estimate of the total cash flows to be generated by selling the products

manufactured at its Arizona plant, not discounted to present value17,000,000

The fair value of the Arizona plant is estimated to be $16,000,000.

Required:

1.Determine the amount of impairment loss.

2.If a loss is indicated, prepare the entry to record the loss.

3. & 4.Determine the amount of impairment loss assuming that the estimated undiscounted sum of future cash flows is (3) $16,000,000 instead of $17,000,000 and (4) $27,950,000 instead of $17,000,000.

3 impairment loss_____________

4 impairment loss______________

question 4:

Required information

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Wardell Company purchased a mainframe on January 1, 2019, at a cost of $45,000. The computer was depreciated using the straight-line method over an estimated five-year life with an estimated residual value of $3,000. On January 1, 2021, the estimate of useful life was changed to a total of 10 years, and the estimate of residual value was changed to $1,800.

Required:

1.Prepare the year-end journal entry for depreciation in 2021. No depreciation was recorded during the year.(If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Round your final answer to nearest whole dollar.)

question 5 : On January 2, 2021, the Jackson Company purchased equipment to be used in its manufacturing process. The equipment has an estimated life of eight years and an estimated residual value of $63,125. The expenditures made to acquire the asset were as follows:

Purchase price$264,000Freight charges10,000Installation charges14,000

Jackson's policy is to use the double-declining-balance (DDB) method of depreciation in the early years of the equipment's life and then switch to straight line halfway through the equipment's life.

Required:

1.Calculate depreciation for each year of the asset's eight-year life.

2.Are changes in depreciation methods accounted for retrospectively or prospectively?

please use exactly same format .

ccsu.blackboard.com Blackboard Learn Course Hero [Solved] Chapter 1, Problem 1 - Biology: The. Homework Help - Q&A from Online Tutors... In 2019, Alliant Corporation Acquired Cente. + Central Connecticut State University Reshma Shaikh MyCourses@CCSU Organizations@CCSU Content Collection Connect HW X Chapter 11 i Saved Help Save & Exit Submit 1. Calculate depreciation for each year of the asset's eight-year life. 3 2. Are changes in depreciation methods accounted for retrospectively or prospectively? Complete this question by entering your answers in the tabs below. 2.5 Required 1 Required 2 points Skipped Calculate depreciation for each year of the asset's eight-year life. Depreciation for the Period End of Period eBook Beginning of Year Period Book Depreciation Annual Accumulated Book Value Hint Value Rate Depreciation Depreciation 2021 % Print 2022 % References 2023 % 0 0 2024 % 2025 2026 2027 2028 Total 0