E 11.03 – Allegheny Corporation
Intermediate Accounting
Spiceland, Nelson, and Thomas
10th Edition
Calculate depreciation for years one and two using each of the methods.
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Calculate depreciation for years one and two using each of the methods.
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They give you the value of equipment bought, the service life of the equipment, the residual value, and the expected units to produce and ask you to calculate the depreciation for the next two years.
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Given a chart with missing values… calculate them.
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Given the amount and allocation of a building purchase, the furniture and fixtures price, the office equipment price, and a list of service life and residual values… calculate the depreciation for two years.
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Given the price of equipment, useful life, year till drill is replaced, and price of drill… determine the depreciation under both U.S. GAAP and IFRS.
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Given the purchase price of a truck, the useful life, the residual value, and the amount the truck was sold for… prepare journal entries for the depreciation and sale of the truck.
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Given the cost, residual value, and service life of three different appliances along with details of a purchase of new refrigerators… calculate the group depreciation rate, group life, and depreciation while also preparing a journal entry.
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Given the amount a patent was purchased for, the legal life of the patent, the useful life of the patent, the legal fees of the patent… prepare numerous journal entries related to the patent.
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Given the purchase price, useful life, and fair value…calculate amortization and prepare the journal entry.
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Given the amount it was acquired for, the estimated life, and the residual value… prepare a journal entry for the depreciation.
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