Ac550 Week 7 Homework Tutorial

AC550 Intermediate Accounting I Week 7 readying Professor reckon Due: Chapter 11: E 11-4, E 11-8, E 11-9, E 11-11, E 11-17, E 11-24, P 11-5 E11-4 (Depreciation Computations 5 Methods) Wenner Furnace Corp. purchased machinery for $279,000 on whitethorn 1, 2012. It is estimated that it will have a utile life of 10 years, salvage treasure of $15,000, production of 240,000 units, and on the job(p) hours of 25,000. During 2013, Wenner Corp. uses the machinery for 2,650 hours, and the machinery produces 25,500 units. Instructions From the information given, visualise the depreciation charge for 2013 low each of the following methods. (Round to the close dollar.) (a)Straight-line. (b)Units-of-output. (c)Working hours. (d)Sum-of-the-years-digits. (e)Double-declining-balance. (a)$279,000 $15,000 = $264,000; $264,000 ÷ 10 yrs. = $26,400 (b)$264,000 ÷ 240,000 units = $1.10; 25,500 units X $1.10 = $28,050 (c)$264,000 ÷ 25,000 hours = $10.56 per hr .; 2,650 hrs. X $10.

56 = $27,984 (d)| 10 + 9 + 8 + 7 + 6 + 5 + 4 + 3 + 2 + 1 = 55 OR| n(n + 1)| =| 10(11)| = 55| | | 2| | 2| | 10| x $264,000 x 1/3 =| $16,000| 55| | | 9| x $264,000 x 2/3 =| 28,800| 55| | | | | | primitive for 2013| $44,800| (e)| $279,000 x 20% x 1/3 = | $18,600| | | | | [$279,000 ($279,000 X 20%)] x 20% x 2/3 =| 29,760| | | | | Total for 2013| $48,360| E11-8 (Depreciation ComputationRe put downment, Nonmonetary Exchange) Goldman Corporation bought a machine on June 1, 2010, for $31,800, f.o.b. the place of manufacture. Freight to the point where it was position up was $200, and $500 was expended to assemble it. The machines useful life was estimated at 10 years, with ! a salvage value of $2,500. On June 1, 2011, an essential division of the machine is replaced, at a cost of $2,700, with one designed to reduce the cost of direct the machine. The cost of the old unwrap and related...If you want to get a full essay, order it on our website: OrderEssay.net

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