E 11.13 – Quality Appliances
Intermediate Accounting
Spiceland, Nelson, and Thomas
10th Edition
Given the equipment cost, the service life, the residual value, and the price expected to be sold… calculate the book value for both months.
Given the equipment cost, the service life, the residual value, and the price expected to be sold… calculate the book value for both months.
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.
Given the estimated life, residual value, purchase price, freight charge, and installation charge… calculate the depreciation for each year.
Given the purchase price, the residual value, the road cost, the actual timber logged, and the expected timber logged… calculate the depletion and depreciation.
Prepare the entries necessary to reflect the above information and a schedule showing the intangible asset section of the balance sheet.
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.
Given the cost a patent was acquired for, the years they determined the patent would be useful, and the original life of the patent… prepare a journal entry for amortization.
Given the purchase price, useful life, and fair value…calculate amortization and prepare the journal entry.
Given the cost of a mainframe, the service years, the residual value, the service life change, and the estimated residual value… prepare journal entries for the depreciation.
Given the amount, they purchased equipment for, the service life, and the residual value… prepare a journal entry for the depreciation.