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NewTech purchases computer equipment for $267,000 to use in operating activities for the next four years. It estimates the equipments salvage value at $25,000.

Exercise 8-7 (Algo) Straight-line depreciation LO P1

Prepare a table showing depreciation and book value for each of the four years assuming straight-line depreciation.

153,700 tons of ore duting the yeat. Prepare the December 31 year-end entries to record both the ore deposit depletion and the mining mach nery depreciation. Mining machinery depreciation should be in proportion to the mine's depletion. Note: Do not round intermediate calculations, Round your final answers to the nearest whiole number. Journal entry worksheet Hecord the year-end adjusting entry for the depletion expense of ore mine. Natel Entardetits Befune credits. Exercise 8-19 (Algo) Depletion of natural resources LO P3 Montana Mining Company pays $4,577,350 for an orepdeposit containing 1,446,000 tons. The company installs machinery in the mine costing $179.000. Both the ore and machinery will have no salvage value after the ore is completely mined. Montana mines and sells 153,700 tons of ore during the year. Prepare the December 31 year-end entries to record both the ore deposit depletion ond the mining machinery depreciation. Mining machinery depreciation should be in proportion to the mine's depletion. Note: Do not round intermediate calculations. Round your final answers to the nearest whole number. Journal entry worksheet 2 Record the year-end adjusting entry for the depletion expense of ore mine. Notel Enter debits before credits