What is the depreciation expense for the last year using the units-of-production method $______ What is the accumulated depreciation balance at the end of the last year using the double-declining balance $________
What is the account balance in Paid-In Capital in Excess of Par - Preferred $______ What is the EXACT wording and amounts that should appear on the Preferred Stock line (top line)? wording:_______________________________________________________________
Straight Line Method (Year End Book Value = Cost less Accumulated Depreciation) Depreciation for the Year Depreciation Rate Depreciation Accumulated Expense Asset Depreciable Cost ook Cost 380,000 Date 1/2/15 Depreciation Value 344,000 12/31/15 86,000 3 12/31/16 12/31/17 12/31/18 208,000 36,000 Total 344,000 Units-of-Production (Year End Book Value Cost less Accumulated Depreciation) Step 1: Rate per Unit = (Cost - Residual Value)/Total Estimated Life in Units of Usage = ( hours of life Depreciation for the Year Number of Units Depreciation Accumulated Expense Book Depreciation Per Unit Asset Date Cost Depreciation Value 1/2/15 380,000 12/31/15 12/31/16 12/31/17 86,000 4. 60,200 36,000 12/31/18 Total R.R.M Double-Declining Balance (Year End Book Value = Cost less Accumulated Depreciation) Depreciation for the Year Depreciation Accumulated Expense Book Value Beginning Book Value Double Asset S/L Rate Date Cost 380,000 Depreciation 1/2/15 12/31/15 380,000 190,000 12/31/16 95,000 5. 11,500* 12/31/17 12/31/18 36,000 Total Final year: Beginning Book Value ( ) less Residual Value ( )= 11,500 For the double-declining balance method for 2017, make the journal entry for depreciation: General Journal Account Name Debit Credit 12/31/17 record depreciation --double declining bal June 20: Paid the cash dividend. General Journal Credit Debit Account Name 21.000 Cash Requirement 2. Prepare Partial Balance Sheet (Be sure to complete the descriptions (words) and numbers) (note: use the example on page 27, the descriptions in the first paragraph on page 29 and the account balances in the T accounts after posting the journal five entries on page 29 and this page) Balance Sheet (Partial Stockholders' Equity Paid-In Capital: Preferred Stock-_% Paid-In Capital Common Stock -_Par Value; Paid-In Capital in Excess of Par -Common Total Paid-In Capital Par Value _authorized; issued and outstanding S 90.000 14 authorized issued and outstanding 15. 438,000 Retained Earnings Total Stockholders' Equity $460,000 To determine the account balances, of course, post the journal entries to T accounts Paid-In Capital in - Preferred 18,000 Preferred Stock 90,000 Common Stock Paid-In Capital in - Common 90,000 18,000 Building Dividends Payable-Pref Dividends Payable-Com Retained Earnings Cash R.R.M
