Homework Help Question & Answers

*Exercise 11-15 a On March 10, 2022, Skysong Company sells equipment that it purchased for $203,520...

*Exercise 11-15 a On March 10, 2022, Skysong Company sells equipment that it purchased for $203,520 on August 20, 2015. It wa

*Exercise 11-15 a On March 10, 2022, Skysong Company sells equipment that it purchased for $203,520 on August 20, 2015. It was originally estimated that the equipment would have a life of 12 years and a salvage value of $17,808 at the end of that time, and depreciation has been computed on that basis. The company uses the straight-line method of depreciation. Compute the depreciation charge on this equipment for 2015, for 2022, and the total charge for the period from 2016 to 2021, inclusive, under each of the six following assumptions with respect to partial periods. (Round depreciation per day to 2 decimal places, e.g. 15.64 and final answers to I decimal places, e.g. 45,892.) 2015 2016-2021 Inclusive 2022 $ 1. Depreciation is computed for the exact period of time during which the asset is owned. (Use 365 days for base and record depreciation through March 9, 2022.) 2. Depreciation is computed for the full year on the January 1 balance in the asset account. 3. Depreciation is computed for the full year on the December 31 balance in the asset account. 4. Depreciation for one-half year is charged on plant assets acquired or disposed of during the year. 5. Depreciation is computed on additions from the beginning of the month following acquisition and on disposals to the beginning of the month following disposal. 6. Depreciation is computed for a full period on all assets in use for over one-half year, and no depreciation is charged on assets in use for less than one-half year. (Use 365 days for base.) $ $C $ $
0 0
Next > < Previous
ReportAnswer #1

Answer Page No 0 Depreciation change of the equipment for 2015, for doga & the test elle change for the periode 2016 notes inPage. No Depreciation in 2015 - $0 Because the equipment ans purchased on Aug 20, 2015 same was not included in balance as ofPage. No © Depreciation in 2002 = £15476 - $4438 Depreciation in 2016 - 2031 = $92856 (depreciation for 6years) 15446 X 12 De2015 ww . Page No 4 2016-2021 a inclusive 0 Depreciation is compouted for the exact | $ 5639 92856 $2883 period of time durin

Know the answer?
Add Answer of:
*Exercise 11-15 a On March 10, 2022, Skysong Company sells equipment that it purchased for $203,520...
Your Answer: Your Name: What's your source?
Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions
  • On March 10, 2022, Skysong Company sells equipment that it purchased for $203,520 on August 20,...

    On March 10, 2022, Skysong Company sells equipment that it purchased for $203,520 on August 20, 2015. It was originally estimated that the equipment would have a life of 12 years and a salvage value of $17,808 at the end of that time, and depreciation has been computed on that basis. The company uses the straight-line method of depreciation. Compute the depreciation charge on this equipment for 2015, for 2022, and the total charge for the period from 2016 to...

  • Exercise 11-15 a On March 10, 2022, Blue Company sells equipment that it purchased for $234,240...

    Exercise 11-15 a On March 10, 2022, Blue Company sells equipment that it purchased for $234,240 on August 20, 2015. It was originally estimated that the equipment would have a life of 12 years and a salvage value of $20,496 at the end of that time, and depreciation has been computed on that basis. The company uses the straight-line method of depreciation. Compute the depreciation charge on this equipment for 2015, for 2022, and the total charge for the period...

  • Exercise 11-15 On March 10, 2019, Flint Company sells equipment that it purchased for $207,360 on August 20, 2012. It was originally estimated that the equipment would have a life of 12 years and a s...

    Exercise 11-15 On March 10, 2019, Flint Company sells equipment that it purchased for $207,360 on August 20, 2012. It was originally estimated that the equipment would have a life of 12 years and a salvage value of $18,144 at the end of that time, and depreciation has been computed on that basis. The company uses the straight-line method of depreciation Compute the depreciation charge on this equipment for 2012, for 2019, and the total charge for the period from...

  • On March 10, 2019, Sheridan Company sells equipment that it purchased for $216,960 on August 20,...

    On March 10, 2019, Sheridan Company sells equipment that it purchased for $216,960 on August 20, 2012. It was originally estimated that the equipment would have a life of 12 years and a salvage value of $18,984 at the end of that time, and depreciation has been computed on that basis. The company uses the straight-line method of depreciation. Compute the depreciation charge on this equipment for 2012, for 2019, and the total charge for the period from 2013 to...

  • On March 10, 2022, Lost World Company sells equipment that it purchased for $192,000 on August...

    On March 10, 2022, Lost World Company sells equipment that it purchased for $192,000 on August 20, 2015. It was originally estimated that the equipment would have a life of 12 years and a salvage value of $16,800 at the end of that time, and depreciation has been computed on that basis. The company uses the straight-line method of depreciation. Following are the assumptions with respect to partial periods: 1. Depreciation is computed for the exact period of time during...

  • 22. Lost World Company inally estimated that the E11.15 (LO 1,2) (Depreciation for Fractional Periods) On March 10,...

    22. Lost World Company inally estimated that the E11.15 (LO 1,2) (Depreciation for Fractional Periods) On March 10, 2022, Lost World sells equipment that it purchased for $192,000 on August 20, 2015. It was originally estimated equipment would have a life of 12 years and a salvage value of $16,800 at the end of that time preciation has been computed on that basis. The company uses the straight-line method of depreciation Instructions a. Compute the depreciation charge on this equipment...

  • On March 10, 2019, Lost World Company sells equipment that it purchased for $192,000 on August...

    On March 10, 2019, Lost World Company sells equipment that it purchased for $192,000 on August 20, 2012. It was originally estimated that the equipment would have a life of 12 years and a salvage value of $16,800 at the end of that time, and depreciation has been computed on that basis. The company uses the straightline method of depreciation. Following are the assumptions with respect to partial periods: (1) Depreciation is computed for the exact period of time during...

  • On March 10, 2019, Lost World Company sells equipment that it purchased for $192,000 on August...

    On March 10, 2019, Lost World Company sells equipment that it purchased for $192,000 on August 20, 2012. It was originally estimated that the equipment would have a life of 12 years and a salvage value of $16,800 at the end of that time, and depreciation has been computed on that basis. The company uses the straightline method of depreciation. Following are the assumptions with respect to partial periods: (1) Depreciation is computed for the exact period of time during...

  • 22. Lost World Company inally estimated that the E11.15 (LO 1,2) (Depreciation for Fractional Periods) On...

    22. Lost World Company inally estimated that the E11.15 (LO 1,2) (Depreciation for Fractional Periods) On March 10, 2022, Lost World sells equipment that it purchased for $192,000 on August 20, 2015. It was originally estimated equipment would have a life of 12 years and a salvage value of $16,800 at the end of that time preciation has been computed on that basis. The company uses the straight-line method of depreciation Instructions a. Compute the depreciation charge on this equipment...

  • On March 31, 2021, the Herzog Company purchased a factory complete with vehicles and equipment. The...

    On March 31, 2021, the Herzog Company purchased a factory complete with vehicles and equipment. The allocation of the total purchase price of $960,000 to the various types of assets along with estimated useful lives and residual values are as follows: Asset Cost Estimated Residual Value Estimated Useful Life (in years) Land $ 120,000 N/A N/A Building 460,000 none 25 Equipment 260,000 10% of cost 6 Vehicles 120,000 $ 15,000 10 Total $ 960,000 On June 29, 2022, equipment included...

Free Homework App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
Share Your Knowledge

Post an Article
Post an Answer
Post a Question with Answer

Self-promotion: Authors have the chance of a link back to their own personal blogs or social media profile pages.