Chapter 10 P11-3

Chapter 10 P11-3 - 6,720 (c) Depreciation ExpenseAsset C.

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PROBLEM 11-3 (a) Depreciation Expense—Asset A. ..................................................... 3,900 Accumulated Depreciation—Asset A (5/55 X [$46,000 – $3,100]). ............................................... 3,900 Accumulated Depreciation—Asset A. ............................................. 35,100 Asset A ($46,000 – $13,000). ................................................. 33,000 Gain on Disposal of Plant Assets. ........................................ 2,100 (b) Depreciation Expense—Asset B. ..................................................... 6,720 Accumulated Depreciation—Asset B ([$51,000 – $3,000] ÷ 15,000 X 2,100). ..............................
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Unformatted text preview: 6,720 (c) Depreciation ExpenseAsset C. ..................................................... 6,000 Accumulated DepreciationAsset C ([$80,000 $15,000 $5,000] 10). .................................. 6,000 (d) Asset E. ............................................................................................... 28,000 Retained Earnings. ................................................................ 28,000 Depreciation ExpenseAsset E. ..................................................... 5,600* Accumulated DepreciationAsset E. ................................. 5,600 *($28,000 X .20)...
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This note was uploaded on 10/31/2010 for the course FIN 82571 taught by Professor Sharp during the Fall '10 term at CSU Sacramento.

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