Put the following in ms word and tables appriopriately.

Description

transfer the solutions into ms word from the images. The problems are alredy handled, all you nneed is to just transfer int word document

11-1 solution: Excel delivery
1. Straight line method
Thus the depreciation expense as per straight line method is $6,000 per year
2. Sum of the years’ digit meth
This method determines the depreciation by multiplying the depreciable base and declining
fraction
3. Double declining method
This method assumes that the asset would decrease its value more in the early years and less in
the later years and hence the cost of the asset is divided based on the straight line amount
method.
Units of production method
11-3 solution: Allegheny corporation
1.
1.
2.
3
E11-10: Mercury Inc. solution
1. Journal entry
Here, we debit the cash and debit the accumulated depreciation as below
Working note:
The decrease in the value of fixed tangible assets due to its use is known as depreciation. It is the
allocation of the cost of tangible fixed assets over the useful life of the asset.
Depreciation per unit is calculated by dividing the total depreciation with the number of units:
Depreciation = (($400,000-50,000)/700,000 units))
= $0.50
Total accumulated depreciation 2016 -2018 = 340,000 units’ x $0.50
= $170,000
2. the entry is to record the sale of equipment. Thus, we debit cash and debit accumulated
depreciation.
E11-11 Solution: farm fresh industries
1. Journal entry
The entry is to record the depreciation expense. This is done by debiting the depreciation
expense and crediting the accumulated depreciation
2.journal entry for the truck
The entry is meant to record the sale of the truck. This is done by debiting cash and debiting loss
on sale of truck and debiting accumulated depreciation and crediting truck.
Working note: the total number of periods from July 1,2013 t March 1, 2018 is 56 months. From
the above calculation, the depreciation expense per month is $1,000. Hence, the accumulation
depreciation is $56,000 (58 months’ x $1,000)
3.journal entry
The entry here is meant to record the sale of the truck. Cash is debited and the accumulated
depreciation debited too. Credit the truck and credit gain on sale of truck
Working note:
Working note: the total number of periods from July 1,2013 t March 1, 2018 is 56 months. From
the above calculation, the depreciation expense per month is $1,000. Hence, the accumulation
depreciation is $56,000 (58 months’ x $1,000)
E11-18: Janes company
a.
Purchase of asset for cash increases assets and decreases cash. Decrease in cash decreases assets.
increase in assets should be debited and decrease in assets should be credited. Thus, patent
account should be debited and cash account credited
Amortization of intangible asset increases expenses and decreases costs of assets. Increase in
expenses should be debited and decrease assets should be credited. Thus, amortization expense
should be debited and patent account should be credited. Amortization expense should be
calculated by dividing the cost of asset by number of years and it should be allocated equally per
year.
b.
Purchase of asset for cash increases assets and decreases cash. Decrease in cash decreases assets.
increase in assets should be debited and decrease in assets should be credited. Thus franchise
account should be debited and cash account should be credited
Amortization of intangible assets increases expenses and decreases cost of assets. increase in
expenses should be debited and a decrease in assets should be credited. Thus, amortization
expense account should be debited and franchise account should be credited. Amortization
expense should be calculated by dividing the cost f asset by number of years it should be
allocated equally per year.
c.
Research and development costs incurred increase expenses and decrease cash. Increase in
expense should be debited and decrease in assets should be credited. Thus, research and
development expense account should be debited and cash account credited.
d. book value as on Jan 1, 2011 = cost – depreciation for the year 2009 and 2010
= $700,000 – ($70,000 + $70,000)
= $560,000
Revised useful life of patent is 5 years
Revised depreciation for the year 2011 = book value as on Jan1, 2011/revised useful life
= $560,000/5 years
= $112,000
Amortization of intangible asset increases expenses and decreases cost of asset. Increase in
expenses should be debited and decrease in asset should be credited. Thus, amortization expense
account should be debited and patent account should be credited.
2. Schedule for intangible assets Dec 31, 2011
E11-23 SOLUTION: Alteran corporation
Journal entry
Depreciation- the decrease in the value of fixed tangible assets due to its use, ie the allocation of
of the cost of tangible fixed assets over the useful life of the asset.
Sum of the years’ digits method: this determines the depreciation by multiplying depreciable
base and declining fraction.
Straight line method: a method pf providing depreciation. Depreciation is calculated as the fixed
percentage of the original cost of the asset, i.e.
Depreciation = (cost of the asset – residual value) / estimated useful life of the asset
Sum of the digits; = n x (n + 1) / 2
= 10 x (10 + 1)/2
= 10 x 11/2
= 55
Depreciation expense = [10+9+8/sum of the digits’ x (purchase price –residual value)]
= [(10+9+8/55) x (1.5 – 0.3) million]
= $589,091
Annual depreciation after the estimate change
Now, the adjusting entries for depreciation in 2018
Depreciation expense decreases the equity. Therefore, debit the amortization expense with
$87,273
Accumulated depreciation – computer is a contra asset. it decreases the value of asset account.
Therefore, credit accumulated depreciation – computer with $87,273
E11-26 : Chadwick enterprises
E11-30
1,
2.

Purchase answer to see full
attachment

We offer the bestcustom writing paper services. We have done this question before, we can also do it for you.

Why Choose Us

  • 100% non-plagiarized Papers
  • 24/7 /365 Service Available
  • Affordable Prices
  • Any Paper, Urgency, and Subject
  • Will complete your papers in 6 hours
  • On-time Delivery
  • Money-back and Privacy guarantees
  • Unlimited Amendments upon request
  • Satisfaction guarantee

How it Works

  • Click on the “Place Order” tab at the top menu or “Order Now” icon at the bottom and a new page will appear with an order form to be filled.
  • Fill in your paper’s requirements in the "PAPER DETAILS" section.
  • Fill in your paper’s academic level, deadline, and the required number of pages from the drop-down menus.
  • Click “CREATE ACCOUNT & SIGN IN” to enter your registration details and get an account with us for record-keeping and then, click on “PROCEED TO CHECKOUT” at the bottom of the page.
  • From there, the payment sections will show, follow the guided payment process and your order will be available for our writing team to work on it.