|
|
|
Chapter 16 homework 2020 spring.docx
Chapter_16_homework_2020_spring.docx
Showing 1-3 out of 3
Chapter 16 homework 2020 spring.docx-Mitch Benne ...
Chapter_16_homework_2020_spring.docx-Mitch Benne MWF-10:30 Major Journal Entries
Chapter 16 homework 2020 spring.doc...
Chapter_16_homework_2020_spring.docx-Mitch Benne MWF-10:30 Major Journal Entries
Page 1
Mitch Benne
MWF-10:30
Major Journal Entries – Test 03
Depreciaon Expense Entry
Depreciaon Expense
Accumulated Depreciaon
Patent Purchase Entry
Patent
Cash
Amorzaon Expense Entry
Amorzaon Expense
Patent
PP&E Gain Entry
Cash
Accumulated Depreciaon
PP&E
Gain
PP&E Loss Entry
Cash
Accumulated Depreciaon
Loss
PP&E
PP&E Sold between Depreciaon Dates (at a Gain)
Step 1:
Depreciaon Expense
Accumulated Depreciaon
Step 2:
Cash
Accumulated Depreciaon
PP&E
Gain
Page 2
Mitch Benne
MWF-10:30
Short-Term Equity Purchase (Asset Issue)
Short-Term Equity Investments
Cash
Short-Term Equity (Increase in the Year-End Value, Not Sold)
Short-Term Equity Investment
Unrealized Gain- Short-Term Equity Investments
Impairment Entry
Impairment Loss
Accumulated Impairment Loss
Bob Corporaon needs your help with the double-declining-balance method of depreciaon.
Given the below
informaon you should calculate the below two numbers.
Invoice Price (Equipment Purchased) => 90,000
Setup Charges (Equipment Purchased) => 6,000
Sales Tax & all Other charges (Equipment Purchase) => 10,000
Life => 12 years
Salvage Value => 800
Depreciaon Expense (year # 02) _______$14,957______________________
Carrying Value (end of year # 02) __________$73,023____________________
Page 3
Mitch Benne
MWF-10:30
Sue Corporaon needs your help with the straight-line method of depreciaon.
Given the below informaon you
should calculate the below two numbers.
Invoice Price (Equipment Purchased) => 120,000
Setup Charges (Equipment Purchased) => 6,000
Sales Tax & all Other charges (Equipment Purchase) => 10,000
Life => 10 years
Salvage Value => 4,000
Depreciaon Expense (year # 02) _____$13,200________________________
This asset was sold for 150,000 during year #03 (1/4 of the year passed during year # 03 (hint: remember this
event will require two steps)).
Gain or Loss (year # 03) __Gain of $43,700____________________________
Ace your assessments! Get Better Grades
Browse thousands of Study Materials & Solutions from your Favorite Schools
Kansas State University
Kansas_State_University
School:
Accounting_for_Investing_and_Financing
Course:
Great resource for chem class. Had all the past labs and assignments
Leland P.
Santa Clara University
Introducing Study Plan
Using AI Tools to Help you understand and remember your course concepts better and faster than any other resource.
Find the best videos to learn every concept in that course from Youtube and Tiktok without searching.
Save All Relavent Videos & Materials and access anytime and anywhere
Prepare Smart and Guarantee better grades
Know more
Students also viewed documents
lab 18.docx
lab_18.docx
Course
Course
3
Module5QuizSTA2023.d...
Module5QuizSTA2023.docx.docx
Course
Course
10
Week 7 Test Math302....
Week_7_Test_Math302.docx.docx
Course
Course
30
Chapter 1 Assigment ...
Chapter_1_Assigment_Questions.docx.docx
Course
Course
5
Week 4 tests.docx.do...
Week_4_tests.docx.docx
Course
Course
23
Week 6 tests.docx.do...
Week_6_tests.docx.docx
Course
Course
106
