Week 5 Module 5 - and single line depreciation and take...

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Module 5.1 – A Module 5.1 – B
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For the straight line method do each part separately take the telephone – salvage value / Estimated useful life. Then at the end add all the totals together.
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For this part the Computer’s useful life is gone so you only use the office furniture and the Machine.
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In this case you take the total divide by years then add the total for another year for double declining. Fixed asset accounts : Equipment - Accumulated Depreciation of Equipment Buildings - Accumulated Depreciation of Buildings Add the totals together and you get the Amount Book Net Value for Fixed Assets
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PART 2 OF MODULE 5
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Do a straight line depreciation then multiply by years then subtract the amount from years
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Unformatted text preview: and single line depreciation and take that away from the total. Accumulated depreciation is debited to remove the typewriter off the books. In these do not depreciate leave the total when working out the accumulated depreciation. Also gain on disposed fixed income is the amount that the debit is over. Part 3 of Module 5 In this exercise you do not add the final month yet because it has not gotten there yet so for this part I put the interest expense times 4 months because the final month had not began yet. Interest Payable is the months that have passed. Interest expense is the total for each month separately. Work through these problems slowly they are tricky! ! !...
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This note was uploaded on 07/16/2011 for the course ACCT 212 taught by Professor Song during the Spring '11 term at DeVry Kansas City.

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Week 5 Module 5 - and single line depreciation and take...

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