Alpha Geek

(8)

$10/per page/Negotiable

About Alpha Geek

Levels Tought:
University

Expertise:
Accounting,Algebra See all
Accounting,Algebra,Architecture and Design,Art & Design,Biology,Business & Finance,Calculus,Chemistry,Communications,Computer Science,Environmental science,Essay writing,Programming,Social Science,Statistics Hide all
Teaching Since: Apr 2017
Last Sign in: 438 Weeks Ago, 3 Days Ago
Questions Answered: 9562
Tutorials Posted: 9559

Education

  • bachelor in business administration
    Polytechnic State University Sanluis
    Jan-2006 - Nov-2010

  • CPA
    Polytechnic State University
    Jan-2012 - Nov-2016

Experience

  • Professor
    Harvard Square Academy (HS2)
    Mar-2012 - Present

Category > Accounting Posted 29 Apr 2017 My Price 7.00

Depreciation and Partial Periods

P11-7     Depreciation and Partial Periods The following assets are owned by the Dinnell Company:

Asset

 

A

B

C

Year purchased

2005

2006

2007

Cost

$20,000

$40,000

$100,000

Expected life

5 years

8 years

10 years

Residual value

$2,000

—

$10,000

Depreciation method

Straight-line

Sum-of-the-years’-digits

Double-declining-balance

In the year of acquisition and retirement of an asset, the company records depreciation for one-half year. During 2008, asset A was sold for $7,000.

Required

Prepare the journal entries to record depreciation on each asset for 2005 through 2008 and the sale of asset A.

 

 

 
 
 

Answers

Alpha Geek
(8)
Status NEW Posted 29 Apr 2017 07:04 AM My Price 7.00

-----------

Attachments

file 1493449453-1312015_1_636289450698826884_Depreciation-Methods-Journal.xlsx preview (215 words )
13-----------120-----------15&-----------amp-----------;am-----------p;i-----------nfo-----------Id=-----------403-----------827-----------P11------------7Â----------- Â ----------- Â----------- Â -----------Dep-----------rec-----------iat-----------ion----------- an-----------d P-----------art-----------ial----------- Pe-----------rio-----------dsÂ----------- Th-----------e f-----------oll-----------owi-----------ng -----------ass-----------ets----------- ar-----------e o-----------wne-----------d b-----------y t-----------he -----------Din-----------nel-----------l C-----------omp-----------any-----------:As-----------set-----------ABC-----------Yea-----------r p-----------urc-----------has-----------edC-----------ost-----------$Ex-----------pec-----------ted----------- li-----------feY-----------ear-----------sRe-----------sid-----------ual----------- va-----------lue-----------Dep-----------rec-----------iat-----------ion----------- me-----------tho-----------dSt-----------rai-----------ght------------li-----------neS-----------um------------of------------the------------ye-----------ars-----------’------------di-----------git-----------sDo-----------ubl-----------e-d-----------ecl-----------ini-----------ng------------bal-----------anc-----------eDe-----------pre-----------cia-----------ble----------- co-----------stI-----------n t-----------he -----------yea-----------r o-----------f a-----------cqu-----------isi-----------tio-----------n a-----------nd -----------ret-----------ire-----------men-----------t o-----------f a-----------n a-----------sse-----------t, -----------the----------- co-----------mpa-----------ny -----------rec-----------ord-----------s d-----------epr-----------eci-----------ati-----------on -----------for----------- on-----------e-h-----------alf----------- ye-----------ar.----------- Du-----------rin-----------g 2-----------008-----------, a-----------sse-----------t A----------- wa-----------s s-----------old----------- fo-----------r
Not Rated(0)