Ac550 Week 7 Homework Tutorial

AC550 Intermediate Accounting I calendar week 7 Homework Professor betoken Due: Chapter 11: E 11-4, E 11-8, E 11-9, E 11-11, E 11-17, E 11-24, P 11-5 E11-4 (Depreciation tallysFive Methods) Wenner Furnace Corp. purchased railway carry for $279,000 on whitethorn 1, 2012. It is estimated that it will have a reusable deportment of 10 years, salvage treasure of $15,000, intersection of 240,000 units, and working hours of 25,000. During 2013, Wenner Corp. uses the motorcarry for 2,650 hours, and the autory produces 25,500 units. Instructions From the information given, go out the depreciation charge for 2013 at a lower place each of the following methods. (Round to the penny-pinching dollar.) (a)Straight-line. (b)Units-of-output. (c)Working hours. (d)Sum-of-the-years-digits. (e)Double-declining-balance. (a)$279,000 $15,000 = $264,000; $264,000 ÷ 10 yrs. = $26,400 (b)$264,000 ÷ 240,000 units = $1.10; 25,500 units X $1.10 = $28,050 (c)$264,000 ÷ 25,000 hours = $10.56 per hr.; 2,650 hrs. X $10.

56 = $27,984 (d)| 10 + 9 + 8 + 7 + 6 + 5 + 4 + 3 + 2 + 1 = 55 OR| n(n + 1)| =| 10(11)| = 55| | | 2| | 2| | 10| x $264,000 x 1/3 =| $16,000| 55| | | 9| x $264,000 x 2/3 =| 28,800| 55| | | | | | Total for 2013| $44,800| (e)| $279,000 x 20% x 1/3 = | $18,600| | | | | [$279,000 ($279,000 X 20%)] x 20% x 2/3 =| 29,760| | | | | Total for 2013| $48,360| E11-8 (Depreciation ComputationReplacement, Nonmonetary Exchange) Goldman Corporation bought a machine on June 1, 2010, for $31,800, f.o.b. the place of manufacture. consignment to the point where it was position up was $200, and $500 was expended to install it. The machines useful life was estimated at 10 years, with a salvage value of $2,500. On June 1, 2011, an essential part of the machine is replaced, at a address of $2,700, with one designed to flinch the comprise of direct the machine. The cost of the old part and related...If you inadequacy to get a honest essay, order it on our website: Orderessay

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