Compare three depreciation methods, Transactions for fixed assets, including sale, and entries for payroll and payroll taxes.
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Please xxxx xxxxxxxx solution xxxx xxx xxx me kmow xx some thing is xxxxxxx or wrong. xxxxxx
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xxxxx xx–xxx
xxxxxxxxxxxx Expense
xxxx Straight- b. xxxxxxxxxxxx Double-
xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
Year Method Method Method
2008 $ 21,000 $ 30,240 $ 45,000
xxxxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxxxxx
Total $ 63,000 $ 63,000 $ 63,000
Calculations:
xxxxxxxxxxxxxx xxxxxxxx
($67,500 – xxxxxxxxx = $21,000 xxxx year
Units-of-production method:
($67,500 – xxxxxxxxxxxxxx xxxxx x xxxxx per xxxxx
2008: 12,000 hours x $2.52 = xxxxxxxx
xxxxxxxxxxxxx hours @ xxxxx x xxxxxxxx
xxxxxxxxxxxxx hours x xxxxx x $10,080
xxxxxxxxxxxxxxxxxxxxxxxxx method:
2008: $67,500 × 2/3 x $45,000
xxxxxxxxxxxxxxxx – xxxxxxxx × xxx x $15,000
2010: ($67,500 – $45,000 – xxxxxxx – $4,500*) = $3,000
xxxxx xxxxx xxxxxx xxx xx reduced xxxxx xxx residual xxxxx of xxxxxxxx
xxxxx 10–xxx
xxxxx
Jan. 6 Delivery xxxxxxxxxxxxxxxxxx
Cash 24,000
xxxxxxxxxxxxx Repair xxxxxxxxxxxxx
xxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxx Expense—xxxxxxxx Equipment 12,000
Accumulated xxxxxxxxxxxx—Delivery Equipment 12,000
xxxxxxxxxxxx xxxxxxxxx depreciation�[$24,000 × xxxx × 2)].
xxxxx
Jan. 2 Delivery Equipment 69,000
xxxxxxxxxxxxxxxxx
Aug. 1 Depreciation Expense—Delivery xxxxxxxxxxxxxxxxx
Accumulated xxxxxxxxxxxx—Delivery xxxxxxxxx 3,500
Delivery equipment depreciation
xxxxxxxxxxx – $12,000 × (1/4 × 2) × 7/12].
xxxxxxxxxxxxxx Depreciation—xxxxxxxx xxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxx
xxxxxxxxxxx xxxxxxxxxxxxxxxxxxx
xxxxxxx on xxxx of Delivery Equipment 1,750
xxxxxxxxxxxxx xxxxxx xxxxxxxxxxxxx
Cash 415
xxxxxxxxxxxxxxxxxxxx xxxxxxx—Delivery xxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxx Depreciation—xxxxxxxx Equipment 27,600
xxxxxxxxxxxx xxxxxxxxx xxxxxxxxxxxxxxxxxxxxxxx × (1/5 × xxxxx
xxxxx xx–5B
xxxxx
July 1 Delivery
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