Ac550 Week 7 Homework Tutorial

AC550 Intermediate Accounting I Week 7 preparedness Professor reckon 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 Computations quin Methods) Wenner Furnace Corp. purchased machinery for $279,000 on whitethorn 1, 2012. It is estimated that it will have a utile life of 10 years, salvage treasure of $15,000, production of 240,000 units, and work hours of 25,000. During 2013, Wenner Corp. uses the machinery for 2,650 hours, and the machinery produces 25,500 units. Instructions From the information given, visualise the depreciation charge for 2013 on a lower floor each of the following methods. (Round to the close 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 = $1 0.56 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| | | | | | add up 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 ComputationRe smirchment, Nonmonetary Exchange) Goldman Corporation bought a machine on June 1, 2010, for $31,800, f.o.b. the place of manufacture. Freight to the point where it was position up was $200, and $500 was expended to stick in it. The mac hines useful life was estimated at 10 years,! with a salvage value of $2,500. On June 1, 2011, an essential range of the machine is replaced, at a cost of $2,700, with one designed to reduce the cost of direct the machine. The cost of the old pct and related...If you want to get a full essay, order it on our website: OrderEssay.net

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