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unit 3 assignment 4 - Applying depreciation methods Prepare transactions according to the Generally Accepted Accounting Principles. Calculate appropriate inventory and deprecation entries. Account for
unit 3 assignment 4 - Applying depreciation methods Prepare transactions according to the Generally Accepted Accounting Principles. Calculate appropriate inventory and deprecation entries. Account for various transactions using industry-standard accounting software. This assignment will help you get a better understanding of how different methods of deprecation will effect net income with varying Cost of Goods Sold, and Depreciation methods Rockport corporation purchased a new piece of equipment on January Ist of this year. Other information about the machine is listed in the table below. Note that the actual units produced exceed the estimate but the machine cannot be depreciated below its salvage value 3122500 Machine Cost Useful life Salvage Value Total estimated units Actual units year Actual units year 2 Actualis year Aculis year 4 22.000 514.000 124500 127,300 119.750 131.250 I Calculate the Straight line Depreciation Machine Cost Salvage Value Depreciale Basis Useful life Deprecation per year 2 Calculate Depreciation using Units of Production Machine Cost Salvage Value Depreciane Basis Total estimated units Depreciation per unit Units Depreciation per unit Annual depreciation Total Depreciation 3 Calculate Depreciation using Double Declining Balance Straight line deprecationale double declining balance rate B aafar al value rate Depreciation Espen Accumlated Deprecation
unit 3 assignment 4 - Applying depreciation methods
Prepare transactions according to the Generally Accepted Accounting Principles.
Calculate appropriate inventory and deprecation entries.
Account for various transactions using industry-standard accounting software.
This assignment will help you get a better understanding of how different methods of deprecation will effect net income with varying Cost of Goods Sold, and
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