Question
In: Accounting
SUBJECT ACCOUNTING On March 1, 2019 a new refridgerator was purchased for $2,400. The equipment will...
SUBJECT ACCOUNTING
On March 1, 2019 a new refridgerator was purchased for $2,400. The equipment will be used for 5 years and then donated to the food bank.
Financial Statements are prepared on a monthly basis.
At March 31, 2020 what amount of depreciation will be recognized?
Solutions
ekkarill92 answered 1 year agoRelated Solutions
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On March 10, 2019, Sandhill Company sells
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Compute the depreciation charge on this
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from 2013 to...
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On the 1st March 2019, Concept Limited purchased printing
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Exercise 11-15 On March 10, 2019, Flounder Company sells
equipment that it purchased for $232,320 on August 20, 2012. It was
originally estimated that the equipment would have a life of 12
years and a salvage value of $20,328 at the end of that time, and
depreciation has been computed on that basis. The company uses the
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for the period from...
Bay Inc. purchased some new equipment on January 1, 2019, with a list price of $50,000....
Bay Inc. purchased some new equipment on January 1, 2019, with a
list price of $50,000. The supplier agreed to accept a deposit of
$20,000 on the date of purchase and a promissory note requiring
payment of $10,000 on each December 31 for the next three years
(December 31, 2019, to December 31, 2021). Bay is pleased that no
interest is charged on the note since its bank would have charged
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The equipment arrived on January 5, 2019,...
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Ivanhoe Co. purchased equipment on March 1, 2015, for $110,000
on account. The equipment had an estimated useful life of five
years, with a residual value of $5,000. The equipment is disposed
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for partial periods to the nearest month. The company has an August
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Record the acquisition of the equipment on March 1, 2015.
(Credit account titles...
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years, with a residual value of $5,000. The equipment is disposed
of on February 1, 2018. Express Co, use the diminishing-balance
method of depreciation with a 20% rate and calculates depreciation
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a) Record the acquisition of the equipment on March 1, 2015,
b)Record...
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Exercise 11-15 (Essay) On March 10, 2019, Lost World Company
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and depreciation has been computed on that basis. The company uses
the straightline method of depreciation. Following are the
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Exercise 11-15 (Essay) On March 10, 2019, Lost World Company sells equipment that it purchased for...
Exercise 11-15 (Essay)
On March 10, 2019, Lost World Company sells equipment that it
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salvage value of $16,800 at the end of that time, and depreciation
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method of depreciation.
Following are the assumptions with respect to partial periods:
(1)
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The balance in the accumulated depreciation account at December 31,
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and Accumulated Depreciation of $18,000 before depreciation is
recorded for 2019.
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