SIDUAL 3,000 # YEARS 5 YRI 35200 YR 2 YR 3 YR 4 YR 5 25000 Estimated Prodn Hrs: YRI 110,000 YR 2 105,000 YR 3 100,000 YR 4 100,000 YR 5 85,000 500,000 500,000 38500 ZO 2 DOO 35 00 2750 1125000 YR % DEPREC BK VAL YRI 40 14 71200 200 142720 Loko 25232 u 153 R. d 23 . 2006. 2002 0 YR 4 YR 5 YR 1 YR 2 YR 3 YR 4 YR 5 YR 6 L eciali 0.2000 SOO 0.3200 5690 0.1920 34176 0.115220 505. 0.115220605. 0.0576 10252.8 W YEARS 201: E-10 - DEPRECIATION - 5 YEAR PROPERTY COST 178,000 RESIDUAL 3,000 VIIL Calcule the following STRAIGHT-LINE YRTES YR2 E YR 500 PRODUCTION METHOD SOL000 YRITI0 000 YR 2 105,000 YR3 100,000 YR 4 100.000 250 1175000 500.000 DDB YR % DEPREC BK VAL. YRI WO 7:20 G200) YR 2 2 770 YR 34027 YR 4 90 153 .2220 YRS LA MACRS 1 YRIT 0.2000 5600 YR203200 50 YR3 0.1920 -1176 YR 4 0.115220 Sos Y 0.1152 2:50 YRE 0.0576 10252.50 2011 E-10 - TRADE-INS X. Using the calculations from the depreciatia peg, prepare journal entries T he asset is traded for a disimilar asset: END OF YEAR NEW ASSET CENT TO METHODSTRAIGHT LINE TRADE-IN ALLOWANCE 106,000 Balance is finance with a NP. The awet is traded for a dissimilar ssset END OF YEAR NEW ASSET COST185.000 METHOD PRODUCTION TRADE-IN ALLOWANCE 75.000 Role is financed with a NP. 3 The asset treded for a similar (like-kind) aset. Prepare the entry for financial accounting END OF YEAR NEW ASSET COST190.000 METHOD TRADE-IN ALLOWANCE19.030 Balance is financed with a NIP These traded for a similar (like kind) asset. Prepare the entry for income tax purposes END OF YEAR 4 NEW ASSET COST191UKO METHOD TRADE-IN ALLOWANCE 19000 Balance is financed with a NIP. 3 The asset treded for a similar (like kind) Prepare the entry for income tax purposes. END OF YEAR 5 NEW ASSET COST 200.000 METHOD MACRS TRADE-IN ALLOWANCE 150000 Balance is finanood with a NP. 201: E-10 - DISPOSALS IX. Using the calculations from the previous page, prepare following independent questions, 1 The company beards the asset: END OF YEARN RECEIVES METHOD STRAIGHT LINE 2 Thesis sold for us: END OF YEAR 2 RECEIVES 80.000 METHOD MACRS the asset is sold f ash: END OF YEAR 3 RECEIVES 45,000 METHOD O DDEL 4 The asset has maju repairs, which extends its useful life END OF YEAR REPAIRS 5,900 METHOD PRODUCTION EXTENDED USEFUL LIFE375.000 NEW RESIDUAL CUST 87.000 +RPRES NEWBV 375.000