Week2 SupportingCalculations

Week2 SupportingCalculations - Show calculations to support...

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Show calculations to support how you arrived at the dollar amount for Loss on Disposal of Equip Part C - Equipment was sold for $18,700 Cost $ 53,950 Accumulated Depreciation $ 23,490 $ 30,460 Equipment Sale Proceeds $ 18,700 $ (11,760) Book Value = Cost - Accumulated Depreciation Loss on Disposal = Sale Proceeds - Book Value
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pment for part c.
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June 30 - Accumulated Depreciation on Computer Cost $ 37,000 Expected Useful Life (years) 4 Sale Proceeds $ 4,460 $ 9,250 $ 18,500 $ 4,625 $ 13,875 $ (9,415) Dec 31 - Accumulated Depreciation on Truck Cost $ 25,420 Expected Useful Life (years) 5 Salvage Value $ 4,100 $ 21,320 $ 4,264 Sale Proceeds $ 9,370 $ 12,792 $ 4,264 $ 8,364 $ 1,006 Show the calculations for how you arrived at the dollar amounts for accumulated depreciatio June 30 journal entry in addition to the calculations for accumulated depreciation for the tru entry. Depreciation Expense (annual) = cost/useful life Accumulated Depreciation from Jan 2012 - Jan 2014 (2 years) Depreciation Jan 2014 - June 2014 = cost/useful life x 6/12 months Book Value = cost - total accumulated depreciation Loss on Disposal = Sale Proceeds - Book Value Depreciable Cost = cost - salvage value
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