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Submitted by Canvas on Tue, 2012-07-17 22:12
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# Compare three depreciation methods, Transactions for fixed assets, including sale, and entries for payroll and payroll taxes.

All together there are three separate problems. I have provided the pdf files in order for you to help me complete these questions properly. As always, I will provide the working papers if you wish to use them. The most important part is answering the questions I provided. These are questions that are based off of all the homework done. I need them to get a good score. Your help is appreciated as always. Reminder: included in the working papers are the questions I must have answered.

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Submitted by Asma on Wed, 2012-07-18 16:21
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Please find attached solution xxxx and xxx me xxxx if some xxxxx is missing xx wrong. xxxxxx

xx

file1.doc preview (771 words)

# xxxxx xx–2B

xxxxxxxxxxxx Expense

xxxx xxxxxxxxxxxx xxxxxxxxxxxx Double-

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

Year Method Method Method

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

xxxxxxxxxxxxxxxxxxxxxxxxxxx

2010 21,000 10,080 3,000

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

Calculations:

Straight-line method:

xxxxxxxxxx – \$4,500)/3 = \$21,000 xxxx xxxxx

Units-of-production xxxxxxxx

xxxxxxxxxx – xxxxxxxxxxxxxx xxxxx x xxxxx per hour

2008: 12,000 xxxxx x xxxxx x xxxxxxxx

2009: 9,000 hours x xxxxx = xxxxxxxx

xxxxxxxxxxxxx xxxxx x xxxxx = xxxxxxxx

Double-declining-balance xxxxxxxx

xxxxxxxxxxxxxxx × xxx x \$45,000

2009: (\$67,500 – xxxxxxxx × xxx = \$15,000

2010: (\$67,500 – \$45,000 – \$15,000 – xxxxxxxx = \$3,000

xxxxx xxxxx should xxx be reduced below xxx xxxxxxxx xxxxx xx xxxxxxxx

# Prob. xx–xxx

xxxxx

Jan. 6 Delivery xxxxxxxxxxxxxxxxxx

xxxxxxxxxxxxxxxxx

July 19 Truck xxxxxx Expense 500

Cash 500

Dec. 31 Depreciation Expense—Delivery Equipment 12,000

xxxxxxxxxxxxxx xxxxxxxxxxxx—xxxxxxxx xxxxxxxxx xxxxxxxxxx

Delivery equipment xxxxxxxxxxxxxxxxxxxxxxx × (1/4 × 2)].

xxxxx

Jan. 2 Delivery xxxxxxxxxxxxxxxxxx

xxxxxxxxxxxxxxxxx

xxxxxxxxxxxxxxxxxxx xxxxxxx—xxxxxxxx Equipment 3,500

Accumulated xxxxxxxxxxxx—Delivery xxxxxxxxx 3,500

xxxxxxxxxxx xxxxxxxxx xxxxxxxxxxxxx

xxxxxxxxxxx – xxxxxxx × (1/4 × xx × 7/12].

xxxxxxxxxxxxxx xxxxxxxxxxxx—xxxxxxxx xxxxxxxxxxxxxxxxxx

Cash 10,250

Delivery xxxxxxxxxxxxxxxxxxx

xxxxxxx xx xxxx xx xxxxxxxx xxxxxxxxxxxxxxxxxx

Oct. 24 Truck xxxxxx Expense 415

xxxxxxxxxxxxxx

Dec. 31 Depreciation xxxxxxx—xxxxxxxx xxxxxxxxxxxxxxxxxx

xxxxxxxxxxxxxx xxxxxxxxxxxx—Delivery xxxxxxxxxxxxxxxxxxx

xxxxxxxxxxxx equipment depreciation�[\$69,000 × xxxx × xxxxx

# xxxxx xx–xxx

xxxxx

July 1 Delivery xxxxxxxxxxxxxxxxxx

xxxxxxxxxxxxxxxxx

Oct. 1 Depreciation xxxxxxx—Delivery xxxxxxxxxxxxxxxxxx

xxxxxxxxxxxxxx Depreciation—xxxxxxxx xxxxxxxxxxxxxxxxxxx

Delivery equipment xxxxxxxxxxxxxxxxxxxxxxx – \$27,600 × xxxx × 2) ×

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Submitted by Kumail Raza on Wed, 2012-07-18 06:54
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## Answer file is attached with formula, detailed calculations and explanation is attached

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# xx xxxxx

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
 PR 10-2B Data: xxxxxxxxx equipment xxxx xxxxxxx xxxxxx xxxx in xxxxx x Useful xxxx xx xxxxx x 25,000 xxxxxxxx xxxxx \$4,500 2008 xxxx 2010 Yearly xxxxx xx xxxxx x xxxxxx x 9,000 x 4,000 Yearly xxxxx xx xxxxx x 12,000 x xxxxx x 4,000 Assumption: xx is assumed xxxx each xxxx xx xxxxxxxxx production produces x xxxxx xxxxxxxxxxx xxxxx xxxx - xxxxxxxx value % of straight-line xxxxxxxxxxxx x (1/useful life in xxxxxxxxxx Formula: xxxxxxxxxxxxx xxxxxx Units of xxxxxxxxxx xxxxxx xxxxxx declining xxxxxxx method xxxxxxx Depreciable xxxxxxxxxxx xxxx in xxxxx ((Cost x Residual xxxxxxxxxxxxx life in units)*No. of xxxxx xxxxxxxx % of xxxxxxxxxxxxx xxxxxxxxxxxx * 2 x xxxxx x xxxxxxxxxxx xxxxxxxxxxxxx Solution: Depreciable xxxxx xxxxxxx x of straight-line xxxxxxxxxxxx x xxxxxx xxxxxxxxxxx xxxxxxxxxxxx 2008 x xxx Depreciation xxxxxxx xxx xxxx xxxx Straight-line xxxxxx xxxxx of xxxxxxxxxx xxxxxx Double declining xxxxxxx xxxxxx 2008 \$21,000 xxxxxxx \$45,000 Depreciable base= xxxxxxx % xx straight-line xxxxxxxxxxxx = xxxxxx Accumulated xxxxxxxxxxxx under xxxxxx xxxxxxxxx xxxxxx - xxxx = \$45,000 Depreciation expense for xxxx Year xxxxxxxxxxxxx xxxxxx Units xx xxxxxxxxxx method xxxxxx xxxxxxxxx xxxxxxx method 2009 xxxxxxx \$22,680 \$15,000 xxxxxxxxxxx base= xxxxxxx % xx straight-line depreciation = xxxxxx xxxxxxxxxxx xxxxxxxxxxxx xxxxx double declining xxxxxx x xxxx = \$60,000 Depreciation xxxxxxx for xxxx Year xxxxxxxxxxxxx method Units of production

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