1. Table of depreciation per year using the straight-line method and the declining balance method 2. Make the required journals until the machine's usage period expires 3. Create the required ledger(T shape)

Answer the following questions: Required: a-1. Find the discussion of Property, Plant, and Equipment and depreciation methods used by Campbell's. Use data from the Campbell Soup Company annual report O Straight-line method O Double declining method O Written down value method a-2. Why the particular method is used for the purpose described. Straight-line depreciation is used for financial reporting purposes because depreciation expense will be lower than under any of the accelerated depreciation methods. O Straight-line depreciation is used for financial reporting purposes because depreciation expense will be higher than under any of the accelerated depreciation methods. a-3. What method do you think the company uses for income tax purposes? O Accelerated depreciation using the MACRS rates is probably used for tax purposes to minimize taxes payable. O Straight line Method using the MACRS rates is probably used for tax purposes to minimize taxes payable. Written down value Method using…

How do I create a new fixed asset account with an account type: Fixed Asset, detail type: Machinery & Equipment, name: Equipment and track deprecciation of this asset in QuickBooks? When I go to the Chart of Accounts to create a new account, I get the attached photo. There's no where to check the "track depreciation" check box.

Answer it correctly and typed answer please. I ll rate.

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

Our chapter this week touches on the subject of depreciation. Regarding depreciation, of the following items, which are depreciated? Why or why not?   Prepaid Insurance Manufacturing Equipment Prepaid Rent Computers