BUS4060 – u08a1 Solution

BUS4060 – u08a1 Solution

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Problem 8-5A

Year

Straight-line

Units-of-Production

Declining-Balance

1

47500

47346

4

47500

47736

3

47500

46644

4

47500

44640

6250

Totals

190000

Please show all calculations in this area:
Problem 8-6A

1. Debit Credit

Jan. 2
Jan. 3

Jan. 3

2. a. First year

Dec. 31

b. Fifth year

Dec. 31

3. Accumulated depreciation at the date of disposal

Book value at the date of disposal

a. Sold for $13,500 cash Debit Credit

Dec. 31

b. Sold for $45,000 cash

Dec. 31

c. Destroyed in fire and collected $24,000 cash from insurance co.

Dec. 31