Chapter 16 Problem 16-22
1. Machinery 5,000,000
Cash 5,000,000
2. Depreciation 450,000
Accumulated depreciation 450,000
3. Depreciation (3,600,000 / 6) 600,000
Accumulated depreciation 600,000
Cost 5,000,000
Accumulated depreciation:
2005 450,000
2006 450,000 900,000
Book value 4,100,000
Residual value 500,000
Remaining depreciable cost – 1/1/2007 3,600,000
4. Machinery 300,000
Cash 300,000
5. Depreciation (3,300,000 / 5) 660,000
Accumulated depreciation 660,000
Cost 5,300,000
Accumulated depreciation (900,000 + 600,000) 1,500,000
Book value – 1/1/2008 3,800,000
Residual value 500,000
Remaining depreciable cost – 1/1/2008 3,300,000
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