Question

Robin’s Cycle Shop owns various depreciable assets, which were purchased beginning in 2006. The only record you can find on December 31, 2011 (prior to any depreciation adjustments for 2011), is the general ledger account for Equipment, which has a balance of $ 50,500, and the general ledger account for Accumulated Depreciation, Equipment, which has a balance of $ 29,690, in addition to the following information. You need to prepare supporting schedules by asset classification and expense for each prior year before you can calculate the 2011 depreciation.


Total Depreciation 2006 $ 5,400 2007 3,520 2008 6,272 2009 7,923 2010 6,575 $ 29,690

Required
1. Classify assets by type: Delivery Equipment or Office Equipment.
2. Recompute depreciation for 2006, 2007, 2008, 2009, and 2010. Round each year’s depreciation expense to whole dollars.
3. Compute depreciation for2011.


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  • CreatedOctober 21, 2014
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