E 11.06 – Depreciation Methods
Intermediate Accounting
Spiceland, Nelson, and Thomas
10th Edition
Given a chart with missing values… calculate them.
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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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Determine the cumulative effect of the error.
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Determine the amount of the impairment losses.
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