Bulldozer Inc -(ALL ENTRIES FOR Bulldozer ONLY) KEY for Accounting Component Assets = A Liabilities = L Stockholders' Equity = SE Accounting Component Account Debit (DR) Credit (CR) On March 1st 2018, Bulldozer Inc purchases a forklift for $65,000. The expected salvage value is $10,000 and the forklift is expected to have a useful life of 10 years. Calculate the first years depreciation expense as of 12/31/2018, utilizing the straight line method, and book the JE of the depreciation below. On January 1st 2019, Bulldozer Inc purchases another forklift for $90,000. The expected salvage value is $15,000 and the forklift is expected to be driven for 60,000 miles over its expected useful life of 10 years. Calculate the first years depreciation expense as of 12/31/2019, utilizing the units-of-activity method. The forklift is expected to be driven for 4,500 miles in the first year. On July 1st 2018, Bulldozer Inc purchases a forklift for $65,000. The expected salvage value is $10,000 and the forklift is expected to have a useful life of 10 years. Calculate the first years depreciation expense as of 12/31/2018, utilizing the double declining method, and book the JE of the depreciation below. Refer to #3. on 12/31/19 book the depreciation for the second year using the same double declining method
Bulldozer Inc -(ALL ENTRIES FOR Bulldozer ONLY) KEY for Accounting Component Assets = A Liabilities = L Stockholders' Equity = SE Accounting Component Account Debit (DR) Credit (CR) On March 1st 2018, Bulldozer Inc purchases a forklift for $65,000. The expected salvage value is $10,000 and the forklift is expected to have a useful life of 10 years. Calculate the first years depreciation expense as of 12/31/2018, utilizing the straight line method, and book the JE of the depreciation below. On January 1st 2019, Bulldozer Inc purchases another forklift for $90,000. The expected salvage value is $15,000 and the forklift is expected to be driven for 60,000 miles over its expected useful life of 10 years. Calculate the first years depreciation expense as of 12/31/2019, utilizing the units-of-activity method. The forklift is expected to be driven for 4,500 miles in the first year. On July 1st 2018, Bulldozer Inc purchases a forklift for $65,000. The expected salvage value is $10,000 and the forklift is expected to have a useful life of 10 years. Calculate the first years depreciation expense as of 12/31/2018, utilizing the double declining method, and book the JE of the depreciation below. Refer to #3. on 12/31/19 book the depreciation for the second year using the same double declining method
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Bulldozer Inc -(ALL ENTRIES FOR Bulldozer ONLY)
KEY for Accounting Component
Assets = A
Liabilities = L
Stockholders' Equity = SE
Accounting
Component
Account
Debit (DR)
Credit (CR)
On March 1st 2018, Bulldozer Inc purchases a forklift for $65,000. The expected salvage value is $10,000 and the
forklift is expected to have a useful life of 10 years. Calculate the first years depreciation expense as of 12/31/2018,
utilizing the straight line method, and book the JE of the depreciation below.
On January 1st 2019, Bulldozer Inc purchases another forklift for $90,000. The expected salvage value is $15,000 and
the forklift is expected to be driven for 60,000 miles over its expected useful life of 10 years. Calculate the first years
depreciation expense as of 12/31/2019, utilizing the units-of-activity method. The forklift is expected to be driven for
4,500 miles in the first year.
On July 1st 2018, Bulldozer Inc purchases a forklift for $65,000. The expected salvage value is $10,000 and the forklift
is expected to have a useful life of 10 years. Calculate the first years depreciation expense as of 12/31/2018, utilizing
the double declining method, and book the JE of the depreciation below.
Refer to #3. on 12/31/19 book the depreciation for the second year using the same double declining method
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