Patterson Planning Corp. You have been hired by Patterson Planning Corp., an events planning company that...

  

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Patterson Planning Corp. You have been hired by Patterson Planning Corp., an events planning company that recently had a fire in which some of the accounting records were damaged. In reviewing the fixed asset records, you find four depreciation schedules that are not labeled. They are listed in the table below. One of the assets has a depreciation rate of $4.40 per hour. Year Schedule A Schedule B 1 2 3 6,067.20 4 3,634.00 5 3,634.00 6 1,832.80 29 Schedule C Schedule D $10,125.00 $8,800.00 3,600.00 13,500.00 6,600.00 2,160.00 13,500.00 7,480.00 1,296.00 13,500.00 6,600.00 444.00 3,375.00 4,400.00 7,040.00 4,840.00 $6,320.00 $6,000.00 10,112.00 7 8 Total $31,600.00 $13,500.00 $54,000.00 $45,760.00 2. For each of the depreciation schedules shown on the Patterson Planning Corp panel in the information below Leave any ces blank mat cannot be determined from the depreciation schedule Useful life Besidual value Asset cost Total operating hours B Final Questions Review the depreciation schedules on the Patterson Planning Corp. panel, then answer the questions below. feedback. 1. How would you adjust Schedule C if, at the beginning of Year 3, the asset was estimated to have 5 more years of Me remaining, but with a residual value that was $2,500 higher? The total depreciation for this asset now will be s The depreciation amount for Year 3 will be Prints ·012 Patterson Planning Corp. You have been hired by Patterson Planning Corp., an events planning company that recently had a fire in which some of the accounting records were damaged. In reviewing the fixed asset records, you find four depreciation schedules that are not labeled. They are listed in the table below. One of the assets has a depreciation rate of $4.40 per hour. Year Schedule A Schedule B 1 2 3 6,067.20 4 3,634.00 5 3,634.00 6 1,832.80 29 Schedule C Schedule D $10,125.00 $8,800.00 3,600.00 13,500.00 6,600.00 2,160.00 13,500.00 7,480.00 1,296.00 13,500.00 6,600.00 444.00 3,375.00 4,400.00 7,040.00 4,840.00 $6,320.00 $6,000.00 10,112.00 7 8 Total $31,600.00 $13,500.00 $54,000.00 $45,760.00 2. For each of the depreciation schedules shown on the Patterson Planning Corp panel in the information below Leave any ces blank mat cannot be determined from the depreciation schedule Useful life Besidual value Asset cost Total operating hours B Final Questions Review the depreciation schedules on the Patterson Planning Corp. panel, then answer the questions below. feedback. 1. How would you adjust Schedule C if, at the beginning of Year 3, the asset was estimated to have 5 more years of Me remaining, but with a residual value that was $2,500 higher? The total depreciation for this asset now will be s The depreciation amount for Year 3 will be Prints ·012

Answer rating: 100% (QA)

2 Useful life Residual value Asset cost Total operating hours A 31000 6 0 B 15000 5 1500 54000 4 0 ... View the full answer