ACC 304 help A Guide to career/Snaptutorial ACC 304 help A Guide to career/Snaptutorial | Page 84

4
5,746
5
1,968
Total
$59,850
11,970 7,980
11,970 3,990
$59,850
$59,850
10) What is the cost of the asset being depreciated? (Round answer
to 0 decimal places, e.g. 45,892.)
Cost of asset
$
11) If there is any salvage value and the amount is unknown (as is the
case here), the cost would have to be determined by looking at the
data for the double-declining balance method.
12) What amount, if any, was used in the depreciation calculations
for the salvage value for this asset ? (Round answer to 0 decimal
places, e.g. 45,892.)
13) Which method will produce the highest charge to income in Year
1?
The method that produces the highest charge to income in Year 1 is
14) Which method will produce the highest charge to income in Year
4?
The method that produces the highest charge to income in Year 4 is
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.)