acc 220 - CHAPTER 9 ASSIGNMENTS

putul
 (Not rated)
 (Not rated)
Chat

Exercise 9-6 (Part Level Submission)

Danny Venable, the new controller of Seratelli Company, has reviewed the expected useful lives and salvage values of selected depreciable assets at the beginning of 2014. Here are his findings:

Type of 

 

Date

   

Accumulated
Depreciation, 

 

Useful Life (in years)

 

Salvage Value

Asset

 

Acquired

 

Cost

 

Jan. 1, 2014

 

Old

 

Proposed

 

Old

 

Proposed

Building

 

Jan. 1, 2006

 

$789,900

 

$146,868

 

40

 

48

 

$55,560

 

$36,590

Warehouse

 

Jan. 1, 2009

 

124,600

 

23,626

 

25

 

20

 

6,470

 

4,910


All assets are depreciated by the straight-line method. Seratelli Company uses a calendar year in preparing annual financial statements. After discussion, management has agreed to accept Danny’s proposed changes. (The “Proposed” useful life is total life, not remaining life.)

 

http://edugen.wileyplus.com/edugen/art2/common/pixel.gif

 

http://edugen.wileyplus.com/edugen/art2/common/pixel.gif

 

http://edugen.wileyplus.com/edugen/art2/common/pixel.gif

 

(a)

 

Compute the revised annual depreciation on each asset in 2014. (Round answers to 0 decimal places, e.g. 125.)

  

Building

 

Warehouse

Revised annual depreciation

 

$

http://edugen.wileyplus.com/edugen/art2/common/pixel.gif

http://edugen.wileyplus.com/edugen/art2/common/pixel.gif

http://edugen.wileyplus.com/edugen/art2/common/pixel.gif

http://edugen.wileyplus.com/edugen/art2/common/pixel.gif

http://edugen.wileyplus.com/edugen/art2/common/pixel.gif

http://edugen.wileyplus.com/edugen/art2/common/pixel.gif

http://edugen.wileyplus.com/edugen/art2/common/pixel.gif

http://edugen.wileyplus.com/edugen/art2/common/pixel.gif

http://edugen.wileyplus.com/edugen/art2/common/pixel.gif

http://edugen.wileyplus.com/edugen/art2/common/pixel.gif

      

http://edugen.wileyplus.com/edugen/art2/common/pixel.gif
http://edugen.wileyplus.com/edugen/art2/common/pixel.gif
http://edugen.wileyplus.com/edugen/art2/common/pixel.gif

    

$

http://edugen.wileyplus.com/edugen/art2/common/pixel.gif
[removed]

 
    • 11 years ago
    100% correct Guranteed answers - in the format as asked in question
    NOT RATED

    Purchase the answer to view it

    • anaswer-chapter_9.docx