Liquidating dividends effect on retained earnings

Compute the depreciation for the second year under each of the methods below and place your answers in the blanks provided.

Units-of-activity $ On January 1, 2013, Santo Company purchased a computer system for ,500.

The old office equipment has a book value of ,000 and a fair value of ,000 on the date of the exchange. The truck was driven 18,000 miles in 2015 and 22,000 miles in 2016.

The cost of the new office equipment would be recorded at Indicate whether each of the following expenditures should be classified as land (L), land improvements (LI), buildings (B), equipment (E), or none of these (X). Compute depreciation expense using the units-of-activity method for the years 20. The company expected the truck to last four years or 100,000 miles, with an estimated residual value of ,000 at the end of that time.

Other costs incurred were freight costs,

Compute the depreciation for the second year under each of the methods below and place your answers in the blanks provided.Units-of-activity $ On January 1, 2013, Santo Company purchased a computer system for $30,500.The old office equipment has a book value of $56,000 and a fair value of $40,000 on the date of the exchange. The truck was driven 18,000 miles in 2015 and 22,000 miles in 2016.

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Compute the depreciation for the second year under each of the methods below and place your answers in the blanks provided.

Units-of-activity $ On January 1, 2013, Santo Company purchased a computer system for $30,500.

The old office equipment has a book value of $56,000 and a fair value of $40,000 on the date of the exchange. The truck was driven 18,000 miles in 2015 and 22,000 miles in 2016.

The cost of the new office equipment would be recorded at Indicate whether each of the following expenditures should be classified as land (L), land improvements (LI), buildings (B), equipment (E), or none of these (X). Compute depreciation expense using the units-of-activity method for the years 20. The company expected the truck to last four years or 100,000 miles, with an estimated residual value of $6,000 at the end of that time.

Other costs incurred were freight costs, $1,100; installation wiring and foundation, $2,200; material and labor costs in testing equipment, $700; oil lubricants and supplies to be used with equipment, $500; fire insurance policy covering equipment, $1,400.

The equipment is estimated to have a $5,000 salvage value at the end of its 8-year useful service life.

(d) A $500 charge for transportation expenses on new equipment purchased was debited to Freight-In. During the first year of operations, the following expenditures and receipts were recorded in random order in the account, Land.

On March 1, 2015, Landon Company acquired real estate on which it planned to construct a small office building. An old warehouse on the property was razed at a cost of $7,600; the salvaged materials were sold for $1,700.

,100; installation wiring and foundation, ,200; material and labor costs in testing equipment, 0; oil lubricants and supplies to be used with equipment, 0; fire insurance policy covering equipment,

Compute the depreciation for the second year under each of the methods below and place your answers in the blanks provided.Units-of-activity $ On January 1, 2013, Santo Company purchased a computer system for $30,500.The old office equipment has a book value of $56,000 and a fair value of $40,000 on the date of the exchange. The truck was driven 18,000 miles in 2015 and 22,000 miles in 2016.

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Compute the depreciation for the second year under each of the methods below and place your answers in the blanks provided.

Units-of-activity $ On January 1, 2013, Santo Company purchased a computer system for $30,500.

The old office equipment has a book value of $56,000 and a fair value of $40,000 on the date of the exchange. The truck was driven 18,000 miles in 2015 and 22,000 miles in 2016.

The cost of the new office equipment would be recorded at Indicate whether each of the following expenditures should be classified as land (L), land improvements (LI), buildings (B), equipment (E), or none of these (X). Compute depreciation expense using the units-of-activity method for the years 20. The company expected the truck to last four years or 100,000 miles, with an estimated residual value of $6,000 at the end of that time.

Other costs incurred were freight costs, $1,100; installation wiring and foundation, $2,200; material and labor costs in testing equipment, $700; oil lubricants and supplies to be used with equipment, $500; fire insurance policy covering equipment, $1,400.

The equipment is estimated to have a $5,000 salvage value at the end of its 8-year useful service life.

(d) A $500 charge for transportation expenses on new equipment purchased was debited to Freight-In. During the first year of operations, the following expenditures and receipts were recorded in random order in the account, Land.

On March 1, 2015, Landon Company acquired real estate on which it planned to construct a small office building. An old warehouse on the property was razed at a cost of $7,600; the salvaged materials were sold for $1,700.

,400.

The equipment is estimated to have a ,000 salvage value at the end of its 8-year useful service life.

(d) A 0 charge for transportation expenses on new equipment purchased was debited to Freight-In. During the first year of operations, the following expenditures and receipts were recorded in random order in the account, Land.

On March 1, 2015, Landon Company acquired real estate on which it planned to construct a small office building. An old warehouse on the property was razed at a cost of ,600; the salvaged materials were sold for

Compute the depreciation for the second year under each of the methods below and place your answers in the blanks provided.Units-of-activity $ On January 1, 2013, Santo Company purchased a computer system for $30,500.The old office equipment has a book value of $56,000 and a fair value of $40,000 on the date of the exchange. The truck was driven 18,000 miles in 2015 and 22,000 miles in 2016.

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Compute the depreciation for the second year under each of the methods below and place your answers in the blanks provided.

Units-of-activity $ On January 1, 2013, Santo Company purchased a computer system for $30,500.

The old office equipment has a book value of $56,000 and a fair value of $40,000 on the date of the exchange. The truck was driven 18,000 miles in 2015 and 22,000 miles in 2016.

The cost of the new office equipment would be recorded at Indicate whether each of the following expenditures should be classified as land (L), land improvements (LI), buildings (B), equipment (E), or none of these (X). Compute depreciation expense using the units-of-activity method for the years 20. The company expected the truck to last four years or 100,000 miles, with an estimated residual value of $6,000 at the end of that time.

Other costs incurred were freight costs, $1,100; installation wiring and foundation, $2,200; material and labor costs in testing equipment, $700; oil lubricants and supplies to be used with equipment, $500; fire insurance policy covering equipment, $1,400.

The equipment is estimated to have a $5,000 salvage value at the end of its 8-year useful service life.

(d) A $500 charge for transportation expenses on new equipment purchased was debited to Freight-In. During the first year of operations, the following expenditures and receipts were recorded in random order in the account, Land.

On March 1, 2015, Landon Company acquired real estate on which it planned to construct a small office building. An old warehouse on the property was razed at a cost of $7,600; the salvaged materials were sold for $1,700.

,700.

During the second year the truck was driven 27,000 miles.

What entry would Carey make to record the sale of the equipment?

On January 1, 2015, Petersen Enterprises purchased natural resources for

During the second year the truck was driven 27,000 miles.

What entry would Carey make to record the sale of the equipment?

On January 1, 2015, Petersen Enterprises purchased natural resources for $1,800,000.

Instructions (a) Compute the acquisition cost of the equipment. (b) If the double-declining-balance method of depreciation was used, the constant percentage applied to a declining book value would be __________.

For each entry below make a correcting entry if necessary.

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During the second year the truck was driven 27,000 miles.What entry would Carey make to record the sale of the equipment?On January 1, 2015, Petersen Enterprises purchased natural resources for $1,800,000.Instructions (a) Compute the acquisition cost of the equipment. (b) If the double-declining-balance method of depreciation was used, the constant percentage applied to a declining book value would be __________.For each entry below make a correcting entry if necessary.

,800,000.

Instructions (a) Compute the acquisition cost of the equipment. (b) If the double-declining-balance method of depreciation was used, the constant percentage applied to a declining book value would be __________.

For each entry below make a correcting entry if necessary.

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