Historical costEstimated useful lifeSalvage valueEstimated useful hours$270,0006 уears$24,00012,000 hoursEstimated hours per year:3,100 20191,100 20201,200 20212,800 20222,600 20231,200 2024Required1 Complete the depreciation schedule using the Straight-line Method.Page,Adventure Park, Corp.ciation Schedule - Straight Line MethodDepreciationAccumulatedDepreciableYearExpenseDepreciationCost12.31.1912.31.2012.31.2112.31.2212.31.2312.32.242 Record depreciation expense for 2020.General JournalDRCR3 What is the net book value of the equipment on 12.31.20?Historical cost(Accumulated depreciation)Net book value at 12.31.20

Historical cost 270,000 Estimated useful life 6 years Salvage value $ 24,000 12,000 hours Estimated useful hours Estimated hours per year: 3,100 2019 1,100 2020 1,200 2021 2,800 2022 2,600 2023 1,200 2024 Required Complete the depreciation schedule using the Straight-line Method. %24 %24

Historical cost 270,000 Estimated useful life 6 years Salvage value $ 24,000 12,000 hours Estimated useful hours Estimated hours per year: 3,100 2019 1,100 2020 1,200 2021 2,800 2022 2,600 2023 1,200 2024 Required Complete the depreciation schedule using the Straight-line Method. %24 %24

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

Historical cost
Estimated useful life
Salvage value
Estimated useful hours
$
270,000
6 уears
$
24,000
12,000 hours
Estimated hours per year:
3,100 2019
1,100 2020
1,200 2021
2,800 2022
2,600 2023
1,200 2024
Required
1 Complete the depreciation schedule using the Straight-line Method.
Page,
Adventure Park, Corp.
ciation Schedule - Straight Line Method
Depreciation
Accumulated
Depreciable
Year
Expense
Depreciation
Cost
12.31.19
12.31.20
12.31.21
12.31.22
12.31.23
12.32.24
2 Record depreciation expense for 2020.
General Journal
DR
CR
3 What is the net book value of the equipment on 12.31.20?
Historical cost
(Accumulated depreciation)
Net book value at 12.31.20

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