question 6-2

6

Jared Industries Ltd., a public company, presents you with the following information: (a) Complete the table for the year ended December 31, 2027. The company depreciates all assets for a half year in the year of acquisition and the year of disposal (Round answers to 0 decimal places, e.g. 5,275.) Cost $142,500 75,400 (3) Residual Value $16,000 21,000 23,500 Life in Years 10 5 8 Depreciation Method Double-declining-balance Straight line Double-declining balance (1) Accumulated Depreciation to Dec. 31, 2026 $39.900 29,000 (5) Depreciation for 2027 (2) (4) (6)

I don't need ai answer general accounting question

Presented below is information related to equipment owned by Novak Company at December 31, 2025. Cost $6,820,000 Accumulated depreciation to date 670,000 Expected future net cash flows 4,730,000 Fair value 3,430,000 Assume that Novak will continue to use this asset in the future. As of December 31, 2025, the equipment has a remaining useful life of 4 years and no salvage value. (a) Prepare the journal entry (if any) to record the impairment of the asset at December 31, 2025. (If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually. List debit entry before credit entry.) Date December 31, 2025 Account Titles and Explanation Debit Credit I

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General accounting

Munabhai

Concord Corp's statement of financial position at the end of 2022 included the following items: Current assets Land Buildings Equipment Accumulated depreciation-buildings Accumulated depreciation equipment Intangible assets-patents. Total 1 2 3. 4. 5. The following information is available for the 2023 fiscal year: 6. 7. 8. 5. 6. 7. 8 9. $1,265,000 (a) 30,100 1,210,000 330,000 (141,000) (12,200) 40,200 $2.722,100 December 31, 2023 Concord prepares financial statements in accordance with IFRS. Assets Current liabilities Bonds payable Common shares Retained earnings Concord Corp. Statement of Financial Position Total $1,128,100 Net income was $409,000. Interest paid is treated as an operating activity. Equipment (cost of $21.600 and accumulated depreciation of $8,080) was sold for $10,800. Depreciation expense was $4.150 on the building and $9,160 on equipment. Amortization expense on a patent was $3,110. 1,221,000 Current assets other than cash increased by $33,000. Current liabilities…

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Presented below is information related to equipment owned by Bramble Company at December 31, 2025. Cost Accumulated depreciation to date. Expected future net cash flows Fair value $10,260,000 (a) 1.140,000 7,980,000 5,472,000 Assume that Bramble will continue to use this asset in the future. As of December 31, 2025, the equipment has a remaining useful life of 5 years. Prepare the journal entry (if any) to record the impairment of the asset at December 31, 2025. (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. List debit entry before credit entry.) ternunt Titles and Fynlanation Debit Credit SUPPORT

Company E. purchased equipment for 100,000 on 1/1/2020. The depreciation expense on the equipment was 10,000 for 2020 and 10,000 for 2021 and 10000 for 2022. The residual value of the equipment is 10,000? At 12/31/2022 what is the book value of the equipment?     A. 100,000     B. 90,000     C. 80,000     D. 70,000     E. None of the above

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Presented below is information related to equipment owned by Crane Company at December 31, 2025. Cost Accumulated depreciation to date Expected future net cash flows Fair value (a) $9,090,000 1,010,000 Crane intends to dispose of the equipment in the coming year. It is expected that the cost of disposal will be $20,250. As of December 31, 2025, the equipment has a remaining useful life of 4 years. 7,070,000 4,848,000 Dec. 31 Prepare the journal entry (if any) to record the impairment of the asset at December 31, 2025. (If no entry is required, select "No entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually. List debit entry before credit entry.) Date Account Titles and Explanation Debit Credit

Presented below is information related to equipment owned by Sunland Company at December 31, 2025. Cost Accumulated depreciation to date Expected future net cash flows Fair value (a) $10,170,000 Sunland intends to dispose of the equipment in the coming year. It is expected that the cost of disposal will be $22,600. As of December 31, 2025, the equipment has a remaining useful life of 4 years. 1,130,000. 7,910,000 5,424,000 Prepare the journal entry (if any) to record the impairment of the asset at December 31, 2025. (If no entry is required, select "No entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually. List debit entry before credit entry.) Dec. 31 Date Account Titles and Explanation Debit Credit

Swifty Industries presents you with the following information.Complete the table for the year ended December 31, 2022. The company depreciates all assets using the half-year convention. (Round answers to 0 decimal places, e.g. 45,892.) Description     DatePurchased     Cost   SalvageValue   Lifein Years     DepreciationMethod     AccumulatedDepreciation to12/31/21     Depreciationfor 2022   Machine A     2/12/20     $146,800   $17,000   10   (a)                                                                 $34,220   (b) $   Machine B     8/15/19   (c)     21,630   5     SL     29,870   (d)     Machine C     7/21/18     67,200   23,500   8     DDB   (e)     (f)     Machine D   (g)                                                                 225,570   71,070   5     SYD     72,100   (h)

This are the correction answer for that problem  (a) is Depreciation Expense 200,000 (b) is Loss on sale 596,875 how to come up to this answer what is the solution and formula ?

Presented below is information related to equipment owned by Marigold Company at December 31, 2025. Cost $9,360,000 Accumulated depreciation to date 1,040,000 Expected future net cash flows 7,280,000 Fair value 4,992,000 Assume that Marigold will continue to use this asset in the future. As of December 31, 2025, the equipment has a remaining useful life of 5 years. (a) Prepare the journal entry (if any) to record the impairment of the asset at December 31, 2025. (If no entry is required, select "No entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually. List debit entry before credit entry.) Date Account Titles and Explanation Dec. 31 Debit Credit eTextbook and Media List of Accounts Save for Later Attempts: 0 of 3 used Submit Answer

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Jaen Advertising Inc. reported the following on its December 31, 2020, balance sheet: Equipment, P500,000 Accumulated depreciation-equipment, P135,000 In a footnote, Jaen indicates that it uses straight-line depreciation over 10 years and estimates salvage value as 10% of cost. What is the average age of the equipment owned by Jaen? O 7.3 years ОТ years О 2.7 years З years

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Presented below is information related to equipment owned by Oriole SpA at December 31, 2022. Cost Accumulated depreciation to date Value-in-use Fair value less cost of disposal (a) €10,620,000 Oriole intends to dispose of the equipment in the coming year. As of December 31, 2022, the equipment has a remaining useful life of 4 years. Date 1,180,000 Dec. 31 8,260,000 5,192,000 Prepare the journal entry (if any) to record the impairment of the asset at December 31, 2022. (If no entry is required, select "No entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit

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Presented below is information related to equipment owned by Vaughn Company at December 31, 2020. Cost   $10,350,000 Accumulated depreciation to date   1,150,000 Expected future net cash flows   8,050,000 Fair value   5,520,000 Assume that Vaughn will continue to use this asset in the future. As of December 31, 2020, the equipment has a remaining useful life of 4 years. 1. Prepare the journal entry (if any) to record the impairment of the asset at December 31, 2020 2. Prepare the journal entry to record depreciation expense for 2021 3. The fair value of the equipment at December 31, 2021, is $5,865,000. Prepare the journal entry (if any) necessary to record this increase in fair value.