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# CHAPTER 7 - LONG-LIVED NONMONETARY ASSETS AND THEIR AMORTIZATION

CHAPTER 7 - LONG-LIVED NONMONETARY ASSETS AND THEIR AMORTIZATION Problem 7.1-7.5

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## Solutions to CH7 - LONG-LIVED NONMONETARY ASSETS & THEIR AMORTIZATION Problems

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xxxxxxx 7

LONG-LIVED NONMONETARY ASSETS AND xxxxx xxxxxxxxxxxx

# xxxxxxxx

## Problem xxx

With units-of-production depreciation, one xxxxx the cost xx xxx production unit, xxx then xxxxxxxxxx this by the units used in a year xx xxxxxxxxx the year’x xxxxxxxxxxxxx

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
 xxxxx Units x \$.08 x xxxxx of Production Depreciation SYD Charge x 930,000 x xxxx = \$ xxxxxx xxxxxxx (6/21 x xxxxxxxxx 2 xxxxxxx x xxx = xxxxxx xxxxxx xxxxx x xxxxxxxx 3 xxxxxxx x .08 x 46,400 53,714 xxxxx x xxxxxxxx 4 500,000 x .08 = xxxxxx 40,286 (3/21 x 282,000) x 415,000 x .08 = 33,200 26,857 xxxxx x xxxxxxxx x 300,000 x .08 = xxxxxx 13,429 xxxxx x 282,000) 3,525,000 xxxxxxxx 282,000

## xxxxxxx 7-2

### Equipment ID xxxx

xxxxxxxxxxxx
 Dr. xxxxx xxxxxx Accumulated Depreciation xxxxxxx xxx xxxxxxxxxx 70,300 Gain xx xxxx of Equipment xxxxx *(70,300 / xxx x x ½ years x \$59,755

### xxxxxxxxx xx #415

xxxxxxxx
 xxx xxxxx 63,000 Accumulated Deprecation 26,640* xxxx on xxxx of Equipment xxxxx Cr. Equipment 96,000 xxxxx 1, (\$96,000 x 30%)( ½ year) = \$14,400; xxxx xx (\$81,600 x 30%)( ½ year) x 12,240.

### Equipment ID #573

xxxxxxxxxxx
 Dr. Cash 38,000 xxxxxxxxxxx Depreciation xxxxxxx xxxx on xxxx of Equipment 7,000 xxx xxxxxxxxxx xxxxxx *\$94,500 x 11/21 = \$49,500

## xxxxxxx 7-3

xxxxxxxx
 Automobile (new) 9,900 xxxxxxxxxxx xxxxxxxxxxxx xxxxxx xxxxxx Automobile (old) 16,000 xxxxx xxxxx

xxx xxxx xx xxxx xxx involved, because the xxx assets xxxx of xxxx xxxxxx

xxxxxxxxx
 Furniture xxxxx Accumulated Depreciation 13,610 xxxx xx Disposal of Truck xxx xxxxxxx xxxxxx Cash xxxxx

## Problem xxx

xxxxxxxxxxxxxxxxxxxxxxx
 xxx Land xxxxxx Cash 80,600 (2) xxxxxxxxx 138,000 Common Stock xxxxxx xxxxx Payable 16,000 xxxxx 32,000 (3) Desks xxx Chairs (80% x xxxxxxxx xxxxx Bookcases (80%

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