CarolWatts_AC116_TEXTBOOK_EXERCISES_UNIT_4_Homework

# CarolWatts_AC116_TEX - 2011 86,000 60,200 47,500 2012 86,000 47,300 11,500 Total \$344,000 \$344,000 \$344,000 Problem 10-6A Name Carol Watts Section

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Problem 10-2A Name: Carol Watts Section: 13AU Enter the appropriate amounts in the shaded cells below and the table will complete itself. A red asterisk (*) will appear below an incorrect amount. Calculations: Straight-line method: ( \$380,000 - \$36,000 ) ÷ 4 = \$86,000 per year Units-of-production method: ( \$380,000 - \$36,000 ) ÷ 8,000 = \$43 per hour 2009 3,000 @ \$43 = \$129,000 2010 2,500 @ \$43 = \$107,500 2011 1,400 @ \$43 = \$60,200 2012 1,100 @ \$43 = \$47,300 Declining-balance method: 2009 \$380,000 x 50% = \$190,000 2010 ( \$380,000 - \$190,000 ) x 50% = \$95,000 2011 ( \$380,000 - \$285,000 ) x 50% = \$47,500 2012 ( \$380,000 - \$332,500 ) - 36,000 = \$11,500 Depreciation Expense Units-of- Declining- Straight-Line Production Balance Year Method Method Method 2009 \$86,000 \$129,000 \$190,000 2010 86,000 107,500 95,000

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Unformatted text preview: 2011 86,000 60,200 47,500 2012 86,000 47,300 11,500 Total \$344,000 \$344,000 \$344,000 Problem 10-6A Name: Carol Watts Section: 13AU Enter the appropriate amount or account in the shaded cells. An asterisk (*) will appear next to an incorrect item or amount in the outlined cells. 1. a. Amount of amortization, depletion or impairment: \$20,000,000 b. Amount of amortization, depletion or impairment: \$33,750 c. Amount of amortization, depletion or impairment: \$444,000 2. JOURNAL Description Debit Credit a. Loss on Impairment of Goodwill \$20,000,000 Goodwill \$20,000,000 b. Amortization Expense - Patents 33,750 Patents 33,750 c. Depletion Expense 444,000 Accumulated Depletion 444,000...
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## This note was uploaded on 07/21/2010 for the course ACC 116 taught by Professor Harris during the Winter '09 term at Kaplan University.

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CarolWatts_AC116_TEX - 2011 86,000 60,200 47,500 2012 86,000 47,300 11,500 Total \$344,000 \$344,000 \$344,000 Problem 10-6A Name Carol Watts Section

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