Spr2022 - BULLOL- Chroma Homenad Yowed to perform the Care eller record this smark paying S8.500 in CAR o warehouse the property demolished in Swed Question An Company acquired real estate on which is planned to all out materials were sold for $1.277. Additional expenditure before construction began indded Sv.000 fee for work concerning the land purchase 5.200 real estate broker Tec, 19.100 white loend STA.000 pur in driveway and a parking lot ILOR A) Determine the amount to be reported as the cost of the land Di For each con not used in part (a), indicate the account to be debited Question 2) Megan Company purchased a new machine on August 1, 2020, at a cost of 300.000 The company estimated that the machine has a salvage value of $1,000 is expected to be wned for 70,000 working hours, and will have an year life Intruchion A) Compute the depreciation expense under the straighting method for 2020, 2024 and 2023, assumint a December 1 year and B) Compute the depreciation expense under the double declining balance method for 2020 and 2021 C) Compute the depreciation expense under the units of activity method for 2020. aming machine usage was 3.200 hours, (record depreciation per unit to the nearest cem.) Question 3) in recent years, Dobbs Company has purchased three machines. Because of a bad employee named Wares in the accounting department, a different accountant was hired to take change of selecting the depreciation method for each machine. Information concerning the machines is summarized in the table below Machine Aequired Cost Salvage Useful Life Depreciation Value (in years) method 1 Jan 1, 2020 596,000 $12.000 10 Straight line 2 July 1, 2021 $85.000 $10,000 5 Double-Declining Balance 3 Nov. 1. 2021 $66,000 $ 6,000 6 Units-of-Activity For the units-of-activity method, total machine hours are expected to be 30,000. Actual hours of use in the first 3 years were: 2021, 800, 2022, 4,500; and 2023, 6,000. Instructions A) Compute the amount of accumulated depreciation on sach machine at December 31, 2023 B) If machine 2 was purchased on April 1 instead of July 1, what would be the depreciation expense for this machine in 2021? In 20222 Question 4) Anika Bus Lines uses the units-of-activity method in depreciating its buses, One bus was purchased on March 1, 2020, at a cost of $100,000. Over its 4-year useful life, the bus is expected to be driven 160.000 miles. Salvage value is expected to be 55,600. Instructions: Prepare a depreciation schedule (as shown in class) assuming actual mileage was: 2020,40.000 2021, 52,000: 2022, 41,000; and 2023, 27,000. Spr2022 - BULLOL- Chroma Homenad Yowed to perform the Care eller record this smark paying S8.500 in CAR o warehouse the property demolished in Swed Question An Company acquired real estate on which is planned to all out materials were sold for $1.277. Additional expenditure before construction began indded Sv.000 fee for work concerning the land purchase 5.200 real estate broker Tec, 19.100 white loend STA.000 pur in driveway and a parking lot ILOR A) Determine the amount to be reported as the cost of the land Di For each con not used in part (a), indicate the account to be debited Question 2) Megan Company purchased a new machine on August 1, 2020, at a cost of 300.000 The company estimated that the machine has a salvage value of $1,000 is expected to be wned for 70,000 working hours, and will have an year life Intruchion A) Compute the depreciation expense under the straighting method for 2020, 2024 and 2023, assumint a December 1 year and B) Compute the depreciation expense under the double declining balance method for 2020 and 2021 C) Compute the depreciation expense under the units of activity method for 2020. aming machine usage was 3.200 hours, (record depreciation per unit to the nearest cem.) Question 3) in recent years, Dobbs Company has purchased three machines. Because of a bad employee named Wares in the accounting department, a different accountant was hired to take change of selecting the depreciation method for each machine. Information concerning the machines is summarized in the table below Machine Aequired Cost Salvage Useful Life Depreciation Value (in years) method 1 Jan 1, 2020 596,000 $12.000 10 Straight line 2 July 1, 2021 $85.000 $10,000 5 Double-Declining Balance 3 Nov. 1. 2021 $66,000 $ 6,000 6 Units-of-Activity For the units-of-activity method, total machine hours are expected to be 30,000. Actual hours of use in the first 3 years were: 2021, 800, 2022, 4,500; and 2023, 6,000. Instructions A) Compute the amount of accumulated depreciation on sach machine at December 31, 2023 B) If machine 2 was purchased on April 1 instead of July 1, what would be the depreciation expense for this machine in 2021? In 20222 Question 4) Anika Bus Lines uses the units-of-activity method in depreciating its buses, One bus was purchased on March 1, 2020, at a cost of $100,000. Over its 4-year useful life, the bus is expected to be driven 160.000 miles. Salvage value is expected to be 55,600. Instructions: Prepare a depreciation schedule (as shown in class) assuming actual mileage was: 2020,40.000 2021, 52,000: 2022, 41,000; and 2023, 27,000