QuickHelper

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About QuickHelper

Levels Tought:
Elementary,High School,College,University,PHD

Expertise:
Accounting,Applied Sciences See all
Accounting,Applied Sciences,Business & Finance,Chemistry,Engineering,Health & Medical Hide all
Teaching Since: May 2017
Last Sign in: 356 Weeks Ago, 3 Days Ago
Questions Answered: 20103
Tutorials Posted: 20155

Education

  • MBA, PHD
    Phoniex
    Jul-2007 - Jun-2012

Experience

  • Corportae Manager
    ChevronTexaco Corporation
    Feb-2009 - Nov-2016

Category > Accounting Posted 13 Jul 2017 My Price 15.00

accouting homework

EXERCISE 9-6

Rottino Company purchased a new machine on October 1, 2015, at a cost of $150,000. The company estimated that the machine will have a salvage value of $12,000. The machine is expected to be used for 10,000 working hours during its 5-year life.

Warning

 

 

Compute the depreciation expense under straight-line method for 2015. (Round answer to 0 decimal places, e.g. 2,125.)

    2015
Straight-line method   $

Warning

 

 

Compute the depreciation expense under units-of-activity for 2015, assuming machine usage was 1,700 hours. (Round per hour value to 2 decimal places, e.g. 21.25 and final answer to 0 decimal places, e.g. 2,125.)

    2015
Units-of-activity method   $

Warning

 

 

Compute the depreciation expense under declining-balance using double the straight-line rate for 2015 and 2016. (Round answers to 0 decimal places, e.g. 2,125.)

    2015  

2016
Declining-balance method   $

  $

Warning

 

 

 

 

 

 

EXERCISE 9-7

Linton Company purchased a delivery truck for $34,000 on January 1, 2015. The truck has an expected salvage value of $2,000, and is expected to be driven 100,000 miles over its estimated useful life of 8 years. Actual miles driven were 15,000 in 2015 and 12,000 in 2016.

Warning

 

 

Calculate depreciation expense per mile under units-of-activity method. (Round answer to 2 decimal places, e.g. 0.50.)

 

Depreciation expense per mile   $ per mile

Warning

 

 

Show List of Accounts

Compute depreciation expense for 2015 and 2016 using the straight-line method, the units-of-activity method, and the double-declining-balance method. (Round answers to 0 decimal places, e.g. 5,275.)

 

    2015  

2016
Straight-line method   $

  $

Units-of-activity method   $

  $

Declining-balance method   $

  $

Warning

 

 

Show List of Accounts

Assume that Linton uses the straight-line method. Prepare the journal entry to record 2015 depreciation. (If no entry is required, select "No entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually. Round answers to 0 decimal places, e.g. 5,275.)

 

Account Titles and Explanation

Debit

Credit

Warning

 

 

Show List of Accounts

 

Assume that Linton uses the straight-line method. Show how the truck would be reported in the December 31, 2015, balance sheet. (Round answers to 0 decimal places, e.g. 5,275.)

 

LINTON COMPANY
Partial Balance Sheet
December 31, 2015

   

$

:

   

     

$

Warning

 

Answers

QuickHelper
(10)
Status NEW Posted 13 Jul 2017 06:07 PM My Price 15.00

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