AC116_TEXTBOOK_EXERCISES_Unit_4

AC116_TEXTBOOK_EXERCISES_Unit_4 - 2011 86,000 60,200 47,500...

Info iconThis preview shows pages 1–3. Sign up to view the full content.

View Full Document Right Arrow Icon
Problem 10-2A Name: Teresa Phillips Section: Chapter 10 Unit 4 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
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Background image of page 2
Background image of page 3
This is the end of the preview. Sign up to access the rest of the document.

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: Teresa Phillips Section: Chapter 10 Unit 4 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...
View Full Document

This note was uploaded on 05/30/2011 for the course ACC 116 taught by Professor Harris during the Spring '09 term at Kaplan University.

Page1 / 3

AC116_TEXTBOOK_EXERCISES_Unit_4 - 2011 86,000 60,200 47,500...

This preview shows document pages 1 - 3. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online