Complete this question by entering your answers in the tabs below. Req la Req 1b Req 2 Req 3 Prepare a partial depreciation schedule of factory equipment. The company used the equipment for 8,000 hours in 2019, 9,200 hours in 2020, and 8,900 hours in 2021. (Do not round intermediate calculations.) Depreciation Expense Accumulated Net Book Year Depreciation Value 2019 2020 2021 < Req 1a Req 2 >

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Pete's Propellers Company showed the following information in its Property, Plant, and Equipment Subledger regarding Machine #5027. Machine 5027 Date of Depreciation purchane Jan. 12/10 Jan. 12/18 Rat. Cost $ 62,000 40,000 16,200 Component Single metal housing Methode Reaidual Ent.tife SL. $8,000 15 yra Motor DDB 6,000 10 yrs Blade Jan. 12/18 SL 1,400 s yrs $118,200 *SL = Straight-line; DDB = Double-declining-balance On January 7, 2020, the machine blade cracked and it was replaced with a new one costing $13,200 purchased for cash (the old blade was scrapped). The new blade had an estimated residual value of $2,000 and an estimated life of filve years and would continue to be depreciated using the straight-line method. During 2020, it was determined that the useful life on the metal housing should be Increased to a total of 18 years instead of 15 years and that the residual value should be increased to $10,000. Required: 1. Prepare the entry to record the purchase of the replacement…

A machine was purchased on 1 January 2021 and the other details of the machine are:-                         Cost of machine N$324 000 Depreciation rate 5 % Determine the amount of deprecation as at 31 December 2021

Required information [The following information applies to the questions displayed below.] Karane Enterprises, a calendar-year manufacturer based in College Station, Texas, began business in 2020. In the process of setting up the business, Karane has acquired various types of assets. Below is a list of assets acquired during 2020: Date Placed in Asset Cost Service $ 360,000 1,602,000 82,000 Office furniture Machinery Used delivery truck* *Not considered a luxury automobile. 02/03/2020 07/22/2020 08/17/2020 During 2020, Karane was very successful (and had no §179 limitations) and decided to acquire more assets in 2021 to increase its production capacity. These are the assets acquired during 2021: Date Placed in Asset Cost Service Computers and information system Luxury autot Assembly equipment Storage building $ 442,000 90,500 1,410,000 03/31/2021 05/26/2021 08/15/2021 11/13/2021 700,000 tUsed 100% for business purposes. Karane generated taxable income in 2021 of $1,785,000 for purposes…

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Historical cost $ 270,000 Estimated useful life 6 years Salvage value $ 24,000 Estimated useful hours 12,000 hours 3,100 2019 1,100 2020 1,200 2021 Estimated hours per year: 2,800 2022 2,600 2023 1,200 2024 Required 1 Complete the depreciation schedule using the Units of Production Method. Page Adventure Park, Corp. ciation Schedule - Units of Production Depreciation Accumulated Depreciable Year Expense Depreciation Cost 12.31.19 12.31.20 12.31.21 12.31.22 12.31.23 12.32.24 2 Record depreciation expense for 2020. General Journal DR CR 3 What is the net book value of the equipment on 12.31.20? Historical cost (Accumulated depreciation) Net book value at 12.31.20 |24

2. A company purchased a truck for $35,000 on January 1, 2019. The truck is estimated to have a useful life of four years and a salvage value of $1,000. Assuming that the company uses straight-line depreciation, what is depreciation expense for the year ended December 31, 2020? a. $8,750 b. $17,500 c. $8,500 d. $17,000 e. $25,500

Prepare the journal entry; to record depreciation expense for 2024. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. List debit entry before credit entry.) Date

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