15) Which method will produce the highest book value for the asset at the end of Year 3?
The method that produces the highest book value for the asset at the end of Year 3 is
16) Prepare the journal entry( if any) to record the impairment of the asset at December 31, 2014.( If no entry is required, select " No entry " for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.)
17) If the asset is sold at the end of Year 3, which method would yield the highest gain( or lowest loss) on disposal of the asset?
The method that will yield the highest gain( or lowest loss) on disposal of the asset if the asset is sold at the end of Year 3 is
18) Muggsy Bogues Company purchased equipment for $ 224,700 on October 1, 2014. It is estimated that the equipment will have a useful life of 8 years and a salvage value of $ 24,720. Estimated production is 39,600 units and estimated working hours are 20,200. During 2014, Bogues uses the equipment for 590 hours and the equipment produces 1,100 units.
Compute depreciation expense under each of the following methods. Bogues is on a calendar-year basis ending December 31.