Wk 7 chapter 11

Wk 7 chapter 11 - Land improvements - roads 750,000 Total...

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Tara Anderson 11-27 Cost of property $175,000 Recovery period (years) 12 Declining balance type Declining balance rate 0.00 Number of months in first year of service 12 3/5 Salvage value $15,000 Year Straight Line Declining Balance 1 $14,000 $14,000 $0 $0 2 $13,333 $27,333 $14,612 $14,612 3 $13,333 $40,667 $14,612 $29,224 4 $13,333 $54,000 $14,612 $43,836 5 $13,333 $67,333 $14,612 $58,447 6 $13,333 $80,667 $14,612 $73,059 7 $13,333 $94,000 $14,612 $87,671 8 $13,333 $107,333 $14,612 $102,283 9 $13,333 $120,667 $14,612 $116,895 10 $13,333 $134,000 $14,612 $131,507 11 $13,333 $147,333 $14,612 $146,119 12 $13,333 $160,667 $14,612 $160,731 13 14 15 16 TOTAL $160,667 $160,731 Productive Out put 175000 - 15000/41000 3.9 Service Hours 175000 - 15000/4500 Depreciation per year Accumulated depreciation Depreciation per year Accumulated depreciation
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$35.56
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11-33 Name: Tara Anderson Enter the appropriate amounts in the shaded cells in columns D, F and H. 2007 Depletion Expense Cost of natural resources less residual value $8,000,000
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Unformatted text preview: Land improvements - roads 750,000 Total cost to be depleted $8,750,000 Estimated tons of ore 2,000,000 Cost / Tons Depletion c $8,750,000 / 2,000,000 $4.38 Tons x Rate Depletion e 50,000 x $4.38 $219,000 2008 Depletion Expense 2007 cost from above $8,750,000 Less: 2007 depletion expense from above 219,000 Remaining cost to deplete at beginning of 2008 $8,531,000 Remaining tons of ore at beginning of 2008 3,150,000 Cost / Tons Depletion c $8,531,000 / 3,150,000 $2.71 Tons x Rate Depletion e 150,000 x $2.71 $406,500 Tara Anderson 11-39 1. Patent 23,215 Cash 2 Amortization Expense 1,451 Accumulated Amortization Amortization Expense 6,985 Accumulated Amortization Amortization Expense 4,159 Accumulated Amortization 23,215 1,451 6,985 4,159 Tara Anderson 11-41 efv 13,000 x 1.60 20,800 Goodwill Impairment Loss 2,900 Goodwill Nbv 21,300+10,000-7600 23,700 (10,000 - 7,100) fv 21,300-7,600 13,700 ifvg 20,800-13,700 7,100 2,900...
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Wk 7 chapter 11 - Land improvements - roads 750,000 Total...

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