Question
Year 1 Depreciation expense Accumulated depreciation Book value Year 2 Depreciation expense Accumulated depreciation Book value Year 3 Depreciation expense Accumulated depreciation Book value Determine
Year 1
Depreciation expense
Accumulated depreciation
Book value
Year 2
Depreciation expense
Accumulated depreciation
Book value
Year 3
Depreciation expense
Accumulated depreciation
Book value
Determine the following table for 150% Declining Balance Depreciation
| Cost |
|
| RV |
|
| Depreciable cost |
|
| Life |
|
Year 1
Depreciation expense
Accumulated depreciation
Book value
Year 2
Depreciation expense
Accumulated depreciation
Book value
Year 3
Depreciation expense
Accumulated depreciation
Book value
Determine the following for Activity-Based (Units of Production) Depreciation
| Cost |
|
| RV |
|
| Depreciable cost |
|
| Life |
|
| Year | Units made |
|
|
| 1 | 52,000 units |
|
|
| 2 | 50,000 units |
|
|
| 3 | 48,000 units |
|
|
Year 1
Depreciation expense
Accumulated depreciation
Book value
Year 2
Depreciation expense
Accumulated depreciation
Book value
Year 3
Depreciation expense
Accumulated depreciation
Book value
Partial Year Depreciation
| Assume the stamping machine was purchased on October 1st, using straight-line depreciation, depreciation expense for year 1 would be: | $ |
QUESTION :
Disposal of an asset.
From pages 7-7 and 7-8 of the VLN, the company sold the mower after using it for a year and a half for $6,000. In recording the sale, they would:
Group of answer choices
a. Debit a loss for $2,000
b. Debit cash for $2,000
c. Credit a gain for $1,000
d. Credit accumulated depreciation for $3,000
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Survival Audit And Calculations Manual
Authors: Dr Joseph Lee Bounds
1st Edition
1505425573, 978-1505425574
