# 10 533250 for 2007 657675 for 2008 depreciation

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Compute the depreciation for this asset for 2017 and 2018 using the double-declining-balance method. 10% 53,325.0 for 2007 65,767.5 for 2008 (Depreciation Computations—Five Methods) Instructions From the information given, compute the depreciation charge for 2018 under each of the following meth Straight-line. 30,000 Units-of-output. 31,875 Working hours. 31,800 Sum-of-the-years'-digits. 55 18,182 32,727 50,909 total Declining-balance (use 20% as the annual rate). 21,000 33,600 54,600 total (Depreciation—Change in Estimate) (b) E11-4. (LO 1 , 2 ) Jon Seceda Furnace Corp. purchased machinery for \$315,000 on May 1, 2017. It is estimated (a) (b) (c) (d) (e) E11-11.

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Instructions Prepare the entry to correct the prior years' depreciation, if necessary. it is not correct entry to necessary, because changes in estimate are handled in the current and prospectiv Prepare the entry to record depreciation for 2018. book value as 25,000 remaining useful life 5 years revised salvage value 4,500 the result 4,100 depreciation expense equipment 4,100 accumulated depreciation equipment 4,100 (Impairment) Cost \$9,000,000 1,000,000 7,000,000 Fair value 4,800,000 Assume that Suarez will continue to use this asset in the future. As of December 31, 2017, the equipmen Instructions Prepare the journal entry (if any) to record the impairment of the asset at December 31, 2017.
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