Bundle: Financial Accounting: Tools for Business Decision Making 8e Binder Ready Version + WileyPLUS Registration Code
8th Edition
ISBN: 9781119221647
Author: Paul D. Kimmel
Publisher: Wiley (WileyPLUS Products)
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Chapter 9, Problem 9.20E
(a)
To determine
To Calculate: the depreciation using declining-balancing method.
(b)
To determine
To Calculate: the depreciation expense using units-of-activity method
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On July 31, 2018, Choice Landscapes discarded equipment that had a cost of $17,680. Accumulated Depreciation as of December 31, 2017, was $16,000. Assume annual depreciation on the equipment is $1,680. Journalize the partial-year depreciation expense and disposal of the equipment. (Record debits first, then credits
Select the explanation on the last line of the journal entry table.)
Journalize the partial-year depreciation expense.
Date
Accounts and Explanation
Debit
Credit
Jul. 31
On
August
31,
2018,
Option
Landscapes discarded equipment that had a cost of
$16,500.
Accumulated Depreciation as of
December
31,
2017,
was
$15,000.
Assume annual depreciation on the equipment is
$1,500.
Journalize the partial-year depreciation expense and disposal of the equipment. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.)
Honesty Manufacturing purchased a machine on 1 July, 2017. The following financial information has been collected to calculate the depreciation at 30 June 2019:
Cost
$58,500
Expected salvage value
$1,000
Estimated useful life in years
5
Estimated useful life in hours
200,000
Hours used in 2020 is:
48,000
Required:
Calculate the depreciation expense of the machine for the year ended 30 June 2019 using:
a) Straight-line method
b) Unit of activity method
c) Declining balance method using double straight-line rate
Chapter 9 Solutions
Bundle: Financial Accounting: Tools for Business Decision Making 8e Binder Ready Version + WileyPLUS Registration Code
Ch. 9 - Prob. 1QCh. 9 - Prob. 2QCh. 9 - Prob. 3QCh. 9 - Prob. 4QCh. 9 - Prob. 5QCh. 9 - Prob. 6QCh. 9 - Prob. 7QCh. 9 - Prob. 8QCh. 9 - Prob. 9QCh. 9 - In the fourth year of an assets 5-year useful...
Ch. 9 - Prob. 11QCh. 9 - Prob. 12QCh. 9 - Prob. 13QCh. 9 - Prob. 14QCh. 9 - Prob. 15QCh. 9 - Prob. 16QCh. 9 - Prob. 17QCh. 9 - Prob. 18QCh. 9 - Prob. 19QCh. 9 - Prob. 20QCh. 9 - Prob. 21QCh. 9 - Prob. 22QCh. 9 - Give an example of an industry that would be...Ch. 9 - Prob. 24QCh. 9 - Prob. 25QCh. 9 - Prob. 26QCh. 9 - Prob. 27QCh. 9 - Prob. 9.1BECh. 9 - Prob. 9.2BECh. 9 - Prob. 9.3BECh. 9 - Prob. 9.4BECh. 9 - Prob. 9.5BECh. 9 - Prob. 9.6BECh. 9 - Prob. 9.7BECh. 9 - Prob. 9.8BECh. 9 - Prob. 9.9BECh. 9 - Prob. 9.10BECh. 9 - Prob. 9.11BECh. 9 - Prob. 9.12BECh. 9 - Prob. 9.13BECh. 9 - Prob. 9.14BECh. 9 - Prob. 9.1DIECh. 9 - Prob. 9.2ADIECh. 9 - Prob. 9.2BDIECh. 9 - Prob. 9.3DIECh. 9 - Match the statement with the term most directly...Ch. 9 - Prob. 9.5DIECh. 9 - Prob. 9.1ECh. 9 - Prob. 9.2ECh. 9 - Prob. 9.3ECh. 9 - Prob. 9.4ECh. 9 - Prob. 9.5ECh. 9 - Prob. 9.6ECh. 9 - Prob. 9.7ECh. 9 - Prob. 9.8ECh. 9 - Prob. 9.9ECh. 9 - Prob. 9.10ECh. 9 - Prob. 9.11ECh. 9 - Prob. 9.12ECh. 9 - Prob. 9.13ECh. 9 - Prob. 9.14ECh. 9 - Prob. 9.15ECh. 9 - Prob. 9.16ECh. 9 - Prob. 9.17ECh. 9 - Prob. 9.18ECh. 9 - Prob. 9.19ECh. 9 - Prob. 9.20ECh. 9 - Prob. 9.1APCh. 9 - Prob. 9.2APCh. 9 - Prob. 9.3APCh. 9 - Prob. 9.4APCh. 9 - Prob. 9.5APCh. 9 - Prob. 9.6APCh. 9 - Prob. 9.7APCh. 9 - Prob. 9.8APCh. 9 - Prob. 9.9APCh. 9 - Prob. 9.1CACRCh. 9 - Prob. 9.2CACRCh. 9 - Prob. 9.1EYCTCh. 9 - Prob. 9.2EYCTCh. 9 - Prob. 9.3EYCTCh. 9 - Prob. 9.4EYCTCh. 9 - Prob. 9.6EYCTCh. 9 - Prob. 9.7EYCTCh. 9 - Prob. 9.8EYCTCh. 9 - Prob. 9.9EYCTCh. 9 - Prob. 9.10EYCTCh. 9 - CONSIDERING PEOPLE, PLANET, AND PROFIT The March...Ch. 9 - Prob. 9.1IFRSCh. 9 - Prob. 9.2IFRSCh. 9 - Prob. 9.3IFRSCh. 9 - Prob. 9.4IFRS
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