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- Estimating the Percent Depreciated The property and equipment footnote from the Deere & Company balance sheet follows ($ millions): PROPERTY AND DEPRECIATION A summary of property and equipment at October 31, in millions of dollars follows: Land Buildings and building equipment Machinery and equipment Dies, patterns, tools, etc All other Construction in progress Total at cost Less accumulated depreciation Property and equipment - net $124 3,108 5,089 1,552 926 530 11,329 5,751 $5,578 During the year, the company reported $696 million of depreciation expense. Check Estimate the percent depreciated of Deere's depreciable assets. Round to one decimal place. %Whatiseachofthefollowinginvestmentsworthtodayassuminganannualdiscountrateof 7%? ABritishgovernmentConsolpaying£60annually.Depletion Entries Backwoods Mining Co. acquired mineral rights for $24,213,000. The mineral deposit is estimated at 115,300,000 tons. During the current year, 17,300,000 tons were mined and sold. Question Content Area a. Determine the amount of depletion expense for the current year. Round the depletion rate to two decimal places.$fill in the blank 28702f06cfb3013_1 Question Content Area b. Journalize the adjusting entry on December 31 to recognize the depletion expense. If an amount box does not require an entry, leave it blank. blank - Select - - Select - - Select - - Select -
- Your staff person has provided you with the following journal entry for January 20x1 depreciation. The monthly deprecation is supposed to be $100.00. What is wrong with this entry?Following s theinfornaotion Conteiact. sueloting da amount $ Contsact paiice. Raw moterials wages Sub-(ontsiact plant matesials tsians ļ 0uued to othor 6,00,000 120,000 Li60,000 5,000 20,000 2.000 Cont'siact. 4oneral expenses At the end01 the , Cash rereived fm the Contsiactee wos $250.O00 being 80%% of wa Contified, yalue | the year was $ 18,000. plant do be depsieciated at 20%. DHepaue (onteiact account. 7.600 year, to motorials unused at he ond Contsiact.I only need help for question BE 11.3 in Accounting.
- a fired aseet, uch ata computer, was purchaed un lanuary 1 for $1.419 wth an estimaned e aand a salvage or reiduv S11. e ouma ry tur the mat egenunder ti d OAcomlated Depredation Depredation Epene 212.57 212.57 Depredation Expense Accumulated Depreciation 1721 O Aocumulated Depredation 17.71 Deprecianion Expense 17.71 O Depredation Epense 212.57 Accumulatad Depredation 212.5Pre-Lecture Question 06 For indefinite-life intangibles other than goodwill, an impairment test should be conducted at least: 1 once during its useful life. 2 quarterly. 3 monthly. 4 annually.Refer to the highest and best use analysis in table below. Use (a)Year 1 NOI (b)(r−g) (c)R (a÷c = d)Implied Property Value (PV) (e)Construction Cost of Building (d) − (e)Implied Land Value(Residual) Office $ 510,000 0.13−0.03 0.10 $ 5,100,000 $ 4,000,000 1,100,000 Retail $ 610,000 0.12−0.04 0.08 7,625,000 $ 6,750,000 875,000 Apartment $ 415,000 0.12−0.03 0.09 4,611,111 $ 3,000,000 1,611,111 Warehouse $ 410,000 0.10−0.02 0.08 5,125,000 $ 4,000,000 1,125,000 Required: Suppose that the warehouse income would grow at 3 percent per year instead of 2 percent. a. Does this change the highest and best use of the site? multiple choice Yes No b. What is the new implied land value? (Do not round intermediate calculations. Round your final answer to the nearest dollar amount.)
- Connect Only Problem 9-11 Asset Allocation (LG9-2, LG9-5) Annual and Average Returns for Stocks, Bonds, and T-Bills, 1950 to 2017 1950 to 2019 Average 1950 to 1959 Average Average 1960 to 1969 1970 to 1979 1980 to 1989 1990 to 1999 2000 to 2009 Average Average Average Average 2010 Annual Return 2011 Annual Return 2012 Annual Return 2013 Annual Return 2014 Annual Return 2015 Annual Return 2016 Annual Return 2017 Annual Return 2018 Annual Return 2019 Annual Return 2010 to 2019 Average Stocks 12.7% 20.9 8.7 7.5 18.2 19.0 0.9 15.1 2.1 16.0 32.4 13.7 1.4 12.0 21.8 -4.4 31.5 14.2 Long-Term Treasury Bonds 6.6% 0.0 1.6 5.7 13.5 9.5 8.0 9.4 29.9 3.6 -12.7 25.1 -1.2 1.2 8.4 -1.8 14.8 7.7 T-bills 4.2% 2.0 4.0 6.3 8.9 4.9 2.7 0.01 0.02 0.02 0.07 0.05 0.21 0.51 1.39 1.94 2.06 0.63 You have a portfolio with an asset allocation of 50 percent stocks, 26 percent long-term Treasury bonds, and 24 percent T-bills. Use these weights and the returns given in the above table to compute the return of the…Complete the Sum of depreation Useful 8 учет Sum of Sum of years digits method of Depreciation Rate Year 1 Year 3 A 个 Fraction Year 5 ↑Sullivan Ranch Corporation has purchased a new tractor. The following information is given: $150,000 $10,000 Cost: Estimated Residual: Estimated Life in years: Estimated Life in hours: Actual Hours: Year 1 Year 2 Year 3 Year 4 4 1200 Required: 1. Prepare the following Straight-Line depreciation schedule by using the Excel SLN function to calculate Depreciation Expense and entering formulas for the remaining cells. Use absolute cell references when appropriate. (Use cells A4 to B12 from the given information to complete this question.) Year 1 2 360 270 350 220 3 4 Total Depreciation Schedule-Straight-Line Method End of year amounts Depreciatio Depreciatio n Expense n SULLIVAN RANCH CORPORATION Book Value
