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Submitted by Canvas on Tue, 2012-07-17 22:12
due on Sun, 2012-07-22 21:56
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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. 

Submitted by Asma on Wed, 2012-07-18 16:21
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Answer is attached

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Please find attached solution xxxx and xxx me xxxx if some xxxxx is missing xx wrong. xxxxxx



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xxxxx xx–2B

xxxxxxxxxxxx Expense

xxxx xxxxxxxxxxxx xxxxxxxxxxxx Double-


Year Method Method Method



2010 21,000 10,080 3,000



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


Jan. 6 Delivery xxxxxxxxxxxxxxxxxx


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)].


Jan. 2 Delivery xxxxxxxxxxxxxxxxxx


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


Dec. 31 Depreciation xxxxxxx—xxxxxxxx xxxxxxxxxxxxxxxxxx

xxxxxxxxxxxxxx xxxxxxxxxxxx—Delivery xxxxxxxxxxxxxxxxxxx

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

xxxxx xx–xxx


July 1 Delivery xxxxxxxxxxxxxxxxxx


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

PR 10-2B
Data:xxxxxxxxx equipment xxxxxxxxxxx
xxxxxx xxxx in xxxxxx
Useful xxxx xx xxxxxx 25,000
xxxxxxxx xxxxx$4,500
2008 xxxx 2010
Yearly xxxxx xx xxxxxx xxxxxx x 9,000x 4,000
Yearly xxxxx xx xxxxx x 12,000 x xxxxxx 4,000
Assumption: xx is assumed xxxx each xxxx xx xxxxxxxxx production produces x xxxxx
xxxxxxxxxxx xxxxxxxxx - xxxxxxxx value
% of straight-line xxxxxxxxxxxx x(1/useful life in xxxxxxxxxx
Formula:xxxxxxxxxxxxx xxxxxxUnits of xxxxxxxxxx xxxxxx xxxxxx declining xxxxxxx method
xxxxxxxDepreciable xxxxxxxxxxx xxxx in xxxxx ((Cost x Residual xxxxxxxxxxxxx life in units)*No. of xxxxx xxxxxxxx % of xxxxxxxxxxxxx xxxxxxxxxxxx * 2 x xxxxx x xxxxxxxxxxx xxxxxxxxxxxxx
Depreciable xxxxxxxxxxxx
x of straight-line xxxxxxxxxxxx x xxxxxx
xxxxxxxxxxx xxxxxxxxxxxx 2008 xxxx
Depreciation xxxxxxx xxx xxxx
xxxx Straight-line xxxxxxxxxxx of xxxxxxxxxx xxxxxxDouble 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 methodxxxxxx xxxxxxxxx xxxxxxx method
2009xxxxxxx $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
Yearxxxxxxxxxxxxx methodUnits of production

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