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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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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