On July 1, Hartford Construction purchases a bulldozer for $228,000. The equipment has a 9-year life with a residual value of $16,000. Hartford uses the units-of-output method of depreciation, and the bulldozer is expected to yield 26,500 operating hours.a. Calculate the depreciation expense per hour of operation.per hourb. The bulldozer is operated 1,250 hours in the first year, 2,755 hours in the second year, and 1,225 hours in the third year of operations. Journalize the depreciation expense for each year. If an amount box does not require an entry, leave it blank.Year 1Year 2Year 3 Golden Sales has bought $135,000 in fixed assets on January 1st associated with sales equipment. The residual value of these assets is estimated at $10,000 at the end of their 4-year service life. Golden Sales managers want to evaluate the options of depreciation.al. Compute the annual straight-line depreciation.a2. Provide the sample depreciation journal entry to be posted at the end of each of the years. If an amount box does not require an entry, leave it blank.Dec. 31b. Prepare the journal entries for each year of the service life for these assets using the double-declining balance method. If an amount box does not require an entry, leave it blank.Year 1, Dec. 31Year 2, Dec. 31Year 3, Dec. 31Year 4, Dec. 31

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Description: On July 1, Hartford Construction purchases a bulldozer for $228,000. The equipment has a 9-year life with a residual value of $16,000. Hartford uses the units-of-output method of depreciation, and the bulldozer is expected to yield 26,500 operating

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On July 1, Hartford Construction purchases a bulldozer for $228,000. The equipment has a 9-year life with a residual value of $16,000. Hartford uses the units-of-output method of depreciation, and the bulldozer is expected to yield 26,500 operating hours. a. Calculate the depreciation expense per hour of operation. per hour b. The bulldozer is operated 1,250 hours in the first year, 2,755 hours in the second year, and1,225 hours in the third year of operabons. Journalize the depreciation expense for each year. If an amount box does not require an entry, leave it blank. Year 1 Year 2 Year 3

On July 1, Hartford Construction purchases a bulldozer for $228,000. The equipment has a 9-year life with a residual value of $16,000. Hartford uses the units-of-output method of depreciation, and the bulldozer is expected to yield 26,500 operating hours. a. Calculate the depreciation expense per hour of operation. per hour b. The bulldozer is operated 1,250 hours in the first year, 2,755 hours in the second year, and1,225 hours in the third year of operabons. Journalize the depreciation expense for each year. If an amount box does not require an entry, leave it blank. Year 1 Year 2 Year 3

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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