Straight-line Depreciation : Under the straight-line method of depreciation, the same amount of depreciation is allocated every year over the estimated useful life of an asset. The formula to calculate the depreciation cost of the asset using the salvage value is shown as below: Depreciation cost = ( Cost of the asset – Salvage value ) Estimated useful life of the asset To Record: the journal entry for the disposal of machinery.

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Answer 1

Question

Chapter 9, Problem 9.6AP

(a)

To determine

Straight-line Depreciation: Under the straight-line method of depreciation, the same amount of depreciation is allocated every year over the estimated useful life of an asset. The formula to calculate the depreciation cost of the asset using the salvage value is shown as below:

Depreciation cost = (Cost of the asset – Salvage value)Estimated useful life of the asset

To Record: the journal entry for the disposal of machinery.

(b)

To determine

To record: the journal entry the sale of the equipment for $21,000 cash.

(c)

To determine

To record: the journal entry the sale of the equipment for $31,000 cash.

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Answer 2

Question

Chapter 9, Problem 9.6AP

(a)

To determine

Straight-line Depreciation: Under the straight-line method of depreciation, the same amount of depreciation is allocated every year over the estimated useful life of an asset. The formula to calculate the depreciation cost of the asset using the salvage value is shown as below:

Depreciation cost = (Cost of the asset – Salvage value)Estimated useful life of the asset

To Record: the journal entry for the disposal of machinery.

(b)

To determine

To record: the journal entry the sale of the equipment for $21,000 cash.

(c)

To determine

To record: the journal entry the sale of the equipment for $31,000 cash.

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Answer 3

Question

Chapter 9, Problem 9.6AP

(a)

To determine

Straight-line Depreciation: Under the straight-line method of depreciation, the same amount of depreciation is allocated every year over the estimated useful life of an asset. The formula to calculate the depreciation cost of the asset using the salvage value is shown as below:

Depreciation cost = (Cost of the asset – Salvage value)Estimated useful life of the asset

To Record: the journal entry for the disposal of machinery.

(b)

To determine

To record: the journal entry the sale of the equipment for $21,000 cash.

(c)

To determine

To record: the journal entry the sale of the equipment for $31,000 cash.

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Answer 4

Question

Chapter 9, Problem 9.6AP

(a)

To determine

Straight-line Depreciation: Under the straight-line method of depreciation, the same amount of depreciation is allocated every year over the estimated useful life of an asset. The formula to calculate the depreciation cost of the asset using the salvage value is shown as below:

Depreciation cost = (Cost of the asset – Salvage value)Estimated useful life of the asset

To Record: the journal entry for the disposal of machinery.

(b)

To determine

To record: the journal entry the sale of the equipment for $21,000 cash.

(c)

To determine

To record: the journal entry the sale of the equipment for $31,000 cash.

Expert Solution & Answer

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Answer 5

Chapter 9, Problem 9.6AP

(a)

To determine

Straight-line Depreciation: Under the straight-line method of depreciation, the same amount of depreciation is allocated every year over the estimated useful life of an asset. The formula to calculate the depreciation cost of the asset using the salvage value is shown as below:

Depreciation cost = (Cost of the asset – Salvage value)Estimated useful life of the asset

To Record: the journal entry for the disposal of machinery.

(b)

To determine

To record: the journal entry the sale of the equipment for $21,000 cash.

(c)

To determine

To record: the journal entry the sale of the equipment for $31,000 cash.

Answer 6

Chapter 9, Problem 9.6AP

(a)

To determine

Straight-line Depreciation: Under the straight-line method of depreciation, the same amount of depreciation is allocated every year over the estimated useful life of an asset. The formula to calculate the depreciation cost of the asset using the salvage value is shown as below:

Depreciation cost = (Cost of the asset – Salvage value)Estimated useful life of the asset

To Record: the journal entry for the disposal of machinery.

Answer 7

Chapter 9, Problem 9.6AP

(a)

To determine

Straight-line Depreciation: Under the straight-line method of depreciation, the same amount of depreciation is allocated every year over the estimated useful life of an asset. The formula to calculate the depreciation cost of the asset using the salvage value is shown as below:

Depreciation cost = (Cost of the asset – Salvage value)Estimated useful life of the asset

To Record: the journal entry for the disposal of machinery.

Answer 8

(b)

To determine

To record: the journal entry the sale of the equipment for $21,000 cash.

Answer 9

(b)

To determine

To record: the journal entry the sale of the equipment for $21,000 cash.

Answer 10

(c)

To determine

To record: the journal entry the sale of the equipment for $31,000 cash.

Answer 11

(c)

To determine

To record: the journal entry the sale of the equipment for $31,000 cash.

Answer 12

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Answer 13

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Answer 14

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Answer 15

Ch. 9 - Prob. 1Q Ch. 9 - Prob. 2Q Ch. 9 - Prob. 3Q Ch. 9 - Prob. 4Q Ch. 9 - Prob. 5Q Ch. 9 - Prob. 6Q Ch. 9 - Prob. 7Q Ch. 9 - Prob. 8Q Ch. 9 - 9. Distinguish between revenue expenditures and...Ch. 9 - Prob. 10Q

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To record: the journal entry the sale of the equipment for $21,000 cash.

To record: the journal entry the sale of the equipment for $31,000 cash.

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