Working Papers, Chapters 1-17 for Warren/Reeve/Duchac's Accounting, 26th and Financial Accounting, 14th
26th Edition
ISBN: 9781305392373
Author: Carl Warren, Jim Reeve, Jonathan Duchac
Publisher: Cengage Learning
expand_more
expand_more
format_list_bulleted
Concept explainers
Question
Chapter 10, Problem 10.10EX
To determine
Unit-of-activity Method:
Under this method of
the depreciation for the month.
Expert Solution & Answer
Want to see the full answer?
Check out a sample textbook solutionStudents have asked these similar questions
Depreciation by units of activity method
A diesel-powered tractor with a cost of $120,000 and an estimated residual value of $16,400 is expected to have a useful operating life of 28,000 hours. During April , the tractor was operated 150 hours. Determine the depreciation for the month.
Depreciation by Units-of-activity Method
A diesel-powered tractor with a cost of $126,700 and an estimated residual value of $7,900 is expected to have a useful operating life of
55,000 hours. During April, the tractor was operated 200 hours.
Determine the depreciation for the month. If required, carry out any division to two decimal places.
Depreciation by Units-of-Activity Depreciation
A diesel-powered tractor with a cost of $191,060 and estimated residual value of $2,900 is expected to have a useful operating life of 64,000
hours. During November, the tractor was operated 100 hours.
Determine the depreciation for the month. Carry out any division to two decimal places.
Chapter 10 Solutions
Working Papers, Chapters 1-17 for Warren/Reeve/Duchac's Accounting, 26th and Financial Accounting, 14th
Ch. 10 - ONeil Office Supplies has a fleet of automobiles...Ch. 10 - Prob. 2DQCh. 10 - Prob. 3DQCh. 10 - Prob. 4DQCh. 10 - Immediately after a used truck is acquired, a new...Ch. 10 - Keyser Company purchased a machine that has a...Ch. 10 - Is it necessary for a business to use the same...Ch. 10 - Prob. 8DQCh. 10 - For some of the fixed assets of a business, the...Ch. 10 - a. Over what period of time should the cost of a...
Ch. 10 - Straight-line depreciation A building acquired at...Ch. 10 - Straight-line depreciation Equipment acquired at...Ch. 10 - Units-of-activity depreciation A truck acquired at...Ch. 10 - Units-of-activity depreciation A tractor acquired...Ch. 10 - Double declining-balance depreciation A building...Ch. 10 - Double-declining-balance depreciation Equipment...Ch. 10 - Revision of depreciation Equipment with a cost of...Ch. 10 - Revision of depreciation A truck with a cost of...Ch. 10 - Capital and revenue expenditures On February 14,...Ch. 10 - Capital and revenue expenditures On August 7,...Ch. 10 - Sale of equipment Equipment was acquired at the...Ch. 10 - Sale of equipment Equipment was acquired at the...Ch. 10 - Prob. 10.7BPECh. 10 - Prob. 10.7APECh. 10 - Prob. 10.8BPECh. 10 - Prob. 10.8APECh. 10 - Prob. 10.9APECh. 10 - Prob. 10.9BPECh. 10 - Costs of acquiring fixed assets Melinda Stoffers...Ch. 10 - Prob. 10.2EXCh. 10 - Determining cost of land Northwest Delivery...Ch. 10 - Prob. 10.4EXCh. 10 - Prob. 10.5EXCh. 10 - Capital and revenue expenditures Quality Move...Ch. 10 - Nature of depreciation Tri-City Ironworks Co....Ch. 10 - Prob. 10.8EXCh. 10 - Prob. 10.9EXCh. 10 - Prob. 10.10EXCh. 10 - Depreciation by units-of-output method Prior to...Ch. 10 - Depreciation by two methods A John Deere tractor...Ch. 10 - Depreciation by two methods A storage tank...Ch. 10 - Partial-year depreciation Sandblasting equipment...Ch. 10 - Revision of depreciation A building with a cost of...Ch. 10 - Capital expenditure and depreciation; parital-year...Ch. 10 - Entries for sale of fixed asset Equipment acquired...Ch. 10 - Prob. 10.18EXCh. 10 - Depletion entries Big Sky Mining Co. acquired...Ch. 10 - Prob. 10.20EXCh. 10 - Book value of fixed assets Apple Inc. designs,...Ch. 10 - Balance sheet presentation List the errors you...Ch. 10 - Prob. 10.24EXCh. 10 - Prob. 10.23EXCh. 10 - Asset traded for similar asset A printing press...Ch. 10 - Prob. 10.26EXCh. 10 - Entries for trade of fixed asset On July 1, Twin...Ch. 10 - Entries for trade of fixed asset On October 1,...Ch. 10 - Allocating payments and receipts to fixed asset...Ch. 10 - Comparing three depreciation methods Montes Coffee...Ch. 10 - Depreciation by three methods; partial years...Ch. 10 - Prob. 10.4APRCh. 10 - Transactions for fixed assets, including sale The...Ch. 10 - Amortization and depletion entries Data related to...Ch. 10 - Allocating payments and receipts to fixed asset...Ch. 10 - Comparing three depreciation methods Waylander...Ch. 10 - Depreciation by three methods; partial years...Ch. 10 - Depreciation by two methods; sale of fixed asset...Ch. 10 - Transactions for fixed assets, including sale The...Ch. 10 - Amortization and depletion entries Data related to...Ch. 10 - Prob. 10.1CPCh. 10 - Prob. 10.2CPCh. 10 - Effect of depreciation on net income Tuttle...Ch. 10 - Fixed asset turnover: three industries The...
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Similar questions
- A machine costing 350,000 has a salvage value of 15,000 and an estimated life of three years. Prepare depreciation schedules reporting the depreciation expense, accumulated depreciation, and book value of the machine for each year under the double-declining-balance and sum-of-the-years-digits methods. For the double-declining-balance method, round the depreciation rate to two decimal places.arrow_forwardIMPACT OF IMPROVEMENTS AND REPLACEMENTS ON THE CALCULATION OF DEPRECIATION On January 1, 20-1, Dans Demolition purchased two jackhammers for 2,500 each with a salvage value of 100 each and estimated useful lives of four years. On January 1, 20-2, a stronger blade to improve performance was installed in Jackhammer A for 800 cash and the compressor was replaced in Jackhammer B for 200 cash. The compressor is expected to extend the life of Jackhammer B one year beyond the original estimate. REQUIRED 1. Using the straight-line method, prepare general journal entries for depreciation on December 31, 20-1, for Jackhammers A and B. 2. Enter the transactions for January 20-2 in a general journal. 3. Assuming no other additions, improvements, or replacements, calculate the depreciation expense for each jackhammer for 20-2 through 20-4.arrow_forwardDepreciation by Units-of-activity Method A diesel-powered tractor with a cost of $90,000 and estimated residual value of $15,000 is expected to have a useful operating life of 30,000 hours. During April, the tractor was operated 120 hours. Determine the depreciation for the month. Carry out any division to two decimal places.arrow_forward
- Depreciation by Units-of-activity Method A diesel-powered tractor with a cost of $260,580 and estimated residual value of $4,800 is expected to have a useful operating life of 63,000 hours. During February, the tractor was operated 200 hours. Determine the depreciation for the month. If required, carry out any division to two decimal places.arrow_forwardDepreciation by Units-of-activity Method A diesel-powered tractor with a cost of $81,940 and estimated residual value of $3,100 is expected to have a useful operating life of 54,000 hours. During February, the tractor was operated 300 hours. Determine the depreciation for the month. If required, carry out any division to two decimal places.$fill in the blank 1arrow_forwardUnits-of-Production Method A machine is purchased January 1 at a cost of $83,040. It is expected to produce 194,000 units and have a salvage value of $3,500 at the end of its useful life. Units produced are as follows: Year 1 10,300 Year 2 8,100 Year 3 12,400 Year 4 15,700 Year 5 11,200 Required: Prepare a schedule showing depreciation for each year and the book value at the end of each year using the units-of-production method. Units-of-Production Method Ending Beginning Book Value Depreciation Book Value Annual Year 1 $83,040 2 3 4arrow_forward
- Depreciation Methods A delivery truck costing $22,000 is expected to have a $1,500 salvage value at the end of its useful life of four years or 125,000 miles. Assume that the truck was purchased on January 2. Calculate the depreciation expense for the second year using each of the following depreciation methods: (a) straight-line, (b) double-declining balance, and (c) units-of-production. (Assume that the truck was driven 28,000 miles in the second year.) Round all answers to the nearest dollar. a. Straight-line Answer b. Double-declining balance Answer c. Units-of-production Answerarrow_forwardUnits-of-Activity Depreciation A tractor acquired at a cost of $678,000 has an estimated residual value of $48,000, has an estimated useful life of 45,000 hours, and was operated 3,330 hours during the year. Determine the following. a. The depreciable cost $ 630,000 b. The depreciation rate 2$ per hour c. The units-of-activity depreciation for the yeararrow_forwardRevision of Depreciation Equipment with a cost of $354,500 has an estimated residual value of $38,000, has an estimated useful life of 15 years, and is depreciated by the straight-line method. a. Determine the amount of the annual depreciation. 21,100 V b. Determine the book value after 10 full years of use. c. Assuming that at the start of the year 11 the remaíning life is estimated to be 8 years and the residual value is estimated to be $38,700, determine the depreciation expense for each of the remaining 8 years. Feedback Check My Viork Straight-line depreciation allocates the depreciable cost of the asset equally over the expected useful life. The book value is the foxed asset cost less accumulated depreciation. Revising depreciation is necessary when estimates of residual values and/or useful lives of foced assets change due to abnormal wear and tear or obsolescencearrow_forward
- Units-of-Production Method A machine is purchased January 1 at a cost of $59,000. It is expected to produce 130,000 units and have a salvage value of $3,000 at the end of its useful life. Units produced are as follows: Year 1 10,000 Year 2 8,000 Year 3 12,000 Year 4 16,000 Year 5 11,000 Required: Prepare a schedule showing depreciation for each year and the book value at the end of each year using the units-of-production method (round calculations to two decimal places).arrow_forwardDepreciation Methods A delivery truck costing $20,000 is expected to have a $2,000 salvage value at the end of its useful life of four years or 100,000 miles. Assume that the truck was purchased on January 2. Calculate the depreciation expense for the second year using each of the following depreciation methods: (a) straight-line, (b) double-declining balance, and (c) units-of-production. (Assume that the truck was driven 30,000 miles in the second year) Round all answers to the nearest dollar. a. Straight-line b. Double-declining balance $ c. Units-of-production 0 0arrow_forwardRevision of depreciation Equipment with a cost of $354,400 has an estimated residual value of $40,800, has an estimated useful life of 32 years, and is depreciated by the straight-line method. a. Determine the amount of the annual depreciation. 9,800 ✔ b. Determine the book value after 18 full years of use. $ 178,000 ✓ c. Assuming that at the start of the year 19 the remaining life is estimated to be 18 years and the residual value is estimated to be $34,000, determine the depreciation expense for each of the remaining 18 years.arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
- College Accounting, Chapters 1-27AccountingISBN:9781337794756Author:HEINTZ, James A.Publisher:Cengage Learning,
College Accounting, Chapters 1-27
Accounting
ISBN:9781337794756
Author:HEINTZ, James A.
Publisher:Cengage Learning,
Accounting for Derivatives_1.mp4; Author: DVRamanaXIMB;https://www.youtube.com/watch?v=kZky1jIiCN0;License: Standard Youtube License
Depreciation|(Concept and Methods); Author: easyCBSE commerce lectures;https://www.youtube.com/watch?v=w4lScJke6CA;License: Standard YouTube License, CC-BY