Question

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 $4.50 per hour. Year Schedule A Schedule B Schedule C Schedule D 1 $6,380.00 $8,000.00 $10,125.00 $9,000.00 10,208.00 4,800.00 13,500.00 6,750.00 3 6,124.80 2,880.00 13,500.00 7,650.00 4 3,668.50 1,728.00 13,500.00 6,750.00 3,668.50 592.00 3,375.00 4,500.00 1,850.20 7,200.00 7 4,950.00 Total $31,900.00 $18,000.00 $54,000.00 $46,800.00
Please help with all the red X's. Thank you. I always give a rating!

Answer 1

Date B. 5. 5. Uaeful life $0 $34000 $2000 $0 $31900 $20000. Residualluatue Aset cost gerating hs 10400 (03n &hedule A, depeciabon methed used is MACRS depseciabion method for Syeal propetty uuth half convention fear- Rates for Gyear. 20%/32%/19.2%/11.52%/11-524 Value for aset 6380/20% 431900 Begare (2) Rees In Schedule B, lesidud value. cont- Depeuahon $20000- $1BO00 $2000. will be

Page No. Date Schedule C, the methed of depeecuation followed stzaughbline Is method. S7 1s year. 3/4ogyear /4th ogyear 5th year Cost $54000. Hence ( In Schedlule D, useful defe will be Fyeas. & depeciation is chaiged a nate g 4-5$per hour. $4680. 445 10400. on Totalno. housx- of Operatirighs Calculahon of euse depeciation Value at beginning of Yr3 =$30375 Reuise depeuabiona $30375-2500$ $5575 now will be $51500 Total depe aahon. the depeciathos for Y3 cuill 25575 be