HW 7 Questions.xltx

# HW 7 Questions.xltx - HW 7A 1 Calculate Depreciation...

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HW 7A 1 Cost of Auto \$ 30,000 Estimated Salvage Value \$ 3,000 Useful life in years 5 Total estimated miles 100,000 Miles for each year 1 10,000 2 15,000 3 20,000 4 25,000 5 30,000 2 Cost of Auto \$ 40,000 Estimated Salvage Value \$ 4,000 Useful life in years 4 Total estimated miles 100,000 Miles for each year 1 30,000 2 10,000 3 40,000 4 20,000 3 Journalize depletion given the following information: Cost of Mineral rights \$2,000,000 Estimated Salvage Value - Total estimated tons of ore 5,000 Tons extracted this year 1,200 4 Journalize depletion given the following information: Cost of Mineral rights \$1,500,000 Estimated Salvage Value - Total estimated tons of ore 10,000 Tons extracted this year 1,800 5 Journalize this year's amortization expense given the following costs associated with a patent: Research & Development \$ 300,000 Purchase Price \$ 100,000 Filing fees \$ 10,000 Successful legal defense fees \$ 50,000 Useful life in years 8 Calculate Depreciation Expense, Accumulated Depreciation and Book Value each year given the following information Calculate Depreciation Expense, Accumulated Depreciation and Book Value each year given the

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HW 7A
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