Question: 5 questionsthank you S10-5 Calculating partial-year depreciation Learning Objective 2 On September 30, 2015, Meggie Services purchased a copy machine for $38,000. Meggie Services expects
S10-5 Calculating partial-year depreciation Learning Objective 2 On September 30, 2015, Meggie Services purchased a copy machine for $38,000. Meggie Services expects the machine to last for four years and have a residual value of $2,000. Compute depreciation expense on the machine for the year ended December 31, 2015, using the straight-line method. S10-6 Changing the estimated life of an asset Learning Objective 2 Assume that ABC Catering Services paid $20,000 for equipment with a 10-year life and zero expected residual value. After using the equipment for four years, the company determines that the asset will remain useful for only three more years. Requirements 1. Record depreciation expense on the equipment for year 5 by the straight-line method. 2. What is accumulated depreciation at the end of year 5? S10-7 Discarding of a fully depreciated asset Learning Objective 3 On June 15, 2015, Perfect Furniture discarded equipment that had a cost of $12,000, a residual value of So, and was fully depreciated. Journalize the disposal of the equipment. S10-8 Discarding an asset Learning Objective 3 On May 31, 2016, Choice Landscapes discarded equipment that had a cost of $29,400. Accumulated Depreciation as of December 31, 2015, was $27,000. Assume annual depreciation on the equipment is $2,400. Journalize the partial-year depreciation expense and disposal of the equipment. S10-9 Selling an asset at gain or loss Learning Objective 3 Mill Creek Golf Club purchased equipment on January 1, 2016, for $31,500. Suppose Mill Creek Golf Club sold the equipment for $22.000 on December 31, 2018. Accumulated Depreciation as of December 31, 2018, was $21,000. Journalize the sale of the equipment, assuming straight-line depreciation was used
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