Chpt_22_Solutions - EXERCISE 22-15 (1520 minutes) 1....

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1. Accumulated Depreciation—Machinery. ................. 25,500 Depreciation Expense. ....................................... 8,500 Retained Earnings. ............................................. 17,000 2006–2007 2008 Depreciation taken $170,000* $85,000 Depreciation (correct) * 153,000 76,500 * $ 17,000 $ 8,500 *$510,000 X 1/6 X 2 2. Retained Earnings. ..................................................... 45,000 Sales Salaries Expense. ..................................... 45,000 3. No entry necessary. EXERCISE 22-15 (Continued) 4. Amortization Expense—Copyright. ........................ 2,250 Retained Earnings. ................................................... 4,500 Copyright. .......................................................... 6,750 ($45,000 ÷ 20 = $2,250; ( $2,250 X 2 = $4,500) 5. Loss on Write-down of Inventories. ....................... 87,000 Retained Earnings. ........................................... 87,000
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This note was uploaded on 11/12/2011 for the course ACCT 2015 taught by Professor Dr,moore during the Spring '10 term at University of the West Indies at Mona.

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Chpt_22_Solutions - EXERCISE 22-15 (1520 minutes) 1....

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