Explanation:
d indirect materials used in production hope it's right
Answer:
$66,323.37
Explanation:
Depreciation expense under the double declining method = adjustment factor × net book value
Adjustment factor = 2 × (1/useful life )
2 × (1/3) = 0.67
Depreciation expense in 2020 = 0.67 × $909000 = $609,030
Net book value = $909000 - $609,030=$299,970
Depreciation expense in 2021 = 0.67 × $299,970 = $200,979.90
Net book value = $299,970 - $200,979.90 = $98,990.10
Depreciation expense in 2022 = 0.67 × $98,990.10 = $66,323.37
Answer:
Explanation:
The journal entries are shown below:
a. Depreciation Expense A/c Dr $4,710
To Accumulated Depreciation - Office equipment A/c $4,710
(Being depreciation expense is recorded)
The depreciation expense is calculated for eight months (January - August)
b. Cash A/c Dr $21,240
Accumulated Depreciation - Office equipment A/c Dr $40,180
Loss on Disposal of Office equipment A/c Dr $25,130
To Office equipment A/c $86,550
(Being sale of machinery is recorded and the remaining balance is debited to the Loss on Disposal of Office equipment A/c)
The accumulated depreciation is computed below:
= $35,470 + $4,710
= $40,180