On NOVEMBER 1, 2020, you purchased equipment for $60,000. The equipment had an estimated salvage value of $4,000 and an estimated life of 7 years. Your company was using the sum of the years’ digits method of depreciation method and records depreciation annually on December 31. А. Prepare the journal entries and show your calculations for November 1, 2020 December 31, 2020 December 31, 2021 1. 2. 3. Assume at the end of 2021, the equipment was becoming obsolete. You estimated future cash flows from the equipment would be $29,000. An appraisal of the value of the equipment on December 31, 2021, indicated a fair value of $23,000. Prepare the entry for impairment (if needed). С. Assume the equipment was NOT becoming obsolete, so ignore any impairment in part B. Assume you changed from sum of the years' digits method to straight line method of depreciation on March 1, 2022. Prepare all entries related to the equipment and depreciation on 1. March 1, 2022 December 31, 2022 2. B.

Choose the letter of the correct answer.

part b is incorrect. Can you rework it?

i did ask for a certain question to be resolved question 2b

Why woul it not be Schedule B

Wrong Answer

please answer this which is part C

WP Corporation produces products X, Y, and Z from a single raw material input in a joint production process. Budgeted data for the next month is as follows: A) B) Product X yes yes no no Units produced Per unit sales value at split-off Added processing costs per unit Per unit sales value if processed further The cost of the joint raw material input is $90,000. Which of the products should be processed beyond the split-off point? Product Y yes no yes yes Product X 2,700 $ 25.00 $ 2.00 $31.00 Product Z no yes no yes Product Y 3,200 $ 28.00 $ 4.00 $31.00 Product Z 4,200 $ 27.00 $4.00 $36.00

did not fully awnser question

Answer each of the following independent question: a and b