AC116_TEXTBOOK_EXERCISES_TEMPLATE_-_UNIT_4revised-Joanna Aeschbacker

AC116_TEXTBOOK_EXERCISES_TEMPLATE_-_UNIT_4revised-Joanna Aeschbacker

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Problem 10-2A Name: Joanna Aeschbacker Section: 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 = #NAME? per year #NAME? #NAME? #NAME? Units-of-production method: ( $380,000 - $36,000 ) ÷ 8,000 = #NAME? per hour #NAME? #NAME? #NAME? 2009 3,000 @ #NAME? = #NAME? #NAME? 2010 2,500 @ #NAME? = #NAME? #NAME? 2011 1,400 @ #NAME? = #NAME? #NAME? 2012 1,100 @ #NAME? = #NAME? #NAME? Declining-balance method: 2009 $380,000 x 50% 1 #NAME? #NAME? #NAME? 2010 ( $380,000 - $190,000 ) x 50% = #NAME? #NAME? #NAME? #NAME? 2011 ( $380,000 - $285,000 ) x 50% = #NAME? #NAME? #NAME? #NAME? 2012 ( $380,000 - $332,500 ) - 36,000 = #NAME? #NAME? #NAME? #NAME? Depreciation Expense Units-of- Declining- Straight-Line Production Balance Year Method Method Method 2009 #NAME? #NAME? #NAME? 2010 #NAME? #NAME? #NAME? 2011 #NAME? #NAME? #NAME? 2012 #NAME?
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Unformatted text preview: #NAME? #NAME? Total #NAME? #NAME? #NAME? Problem 10-6A Name: Joanna Aeschbacker Section: 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 ## ## ### ##...
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This note was uploaded on 08/15/2011 for the course ACCOUNTING 116 taught by Professor Angeladuck during the Spring '11 term at Kaplan University.

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AC116_TEXTBOOK_EXERCISES_TEMPLATE_-_UNIT_4revised-Joanna Aeschbacker

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