Question: please answer this question completely and correctly otherwise i won't be able to do the next part. thank you W21 - 74 Question 4 of

please answer this question completely and correctly otherwise i won't be able to do the next part. thank you  please answer this question completely and correctly otherwise i won't be
able to do the next part. thank you W21 - 74 Question
4 of 4 View Policies Current Attempt in Progress Ivanhoe Productions Corp.
purchased equipment on March 1, 2021. for $82,000. The company estimated the

W21 - 74 Question 4 of 4 View Policies Current Attempt in Progress Ivanhoe Productions Corp. purchased equipment on March 1, 2021. for $82,000. The company estimated the equipment would have a useful life of three years and produce 10,000 units with a residual value of $10,000. During 2021, the equipment produced 4,700 units. On November 30, 2022. the machine was sold for $18.000 and had produced 6,000 units that year. la) Record all the necessary Journal entries for the years ended December 31, 2021 and 2022 using the following depreciation methods: (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts. Round the depreciation rate in the double-diminishing-balance method to the nearest whole percent, e3.43% and round depreciation per unit in the units-of- production depreciation method to 2 decimal places, eg, 2.25 and final answers to decimal places, s. 5,275) (1) Straight-line Date Account Titles and Explanation Debli Credit 20121 Mu eent W21 Question 4 of 4 (3) Units-of-Production Credit Debit Account Titles and Explanation Date 2021 Mar. 1 Dec 31 2022 Nov. 30 To record depreciation expense) Nox: 30 To end the sales machine Text icon Media Listot Accounts

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!