Homework Soursefill the charts a itedugen wileypluscomedugenstudentmainfrun
fill the charts
a itedugen wileyplus.com/edugen/student/mainfr.uni Free Games Suggested Stes Bacetball utorials Me Web Slice Gallery GobiemoUS.gov o eBay *Pay LUS weygandt, Financial Accounting, 10e Careers and Career i USA.gov CenterPoint EnergyCharies Schwab Credit Firt N CALCULATOR MESSAGE MY INSTRUACTOR ST Exercise 9-8 Terry Wade, the new controller of Sunland Company, has reviewed the expected useful lives and salvage values of selected depreciable assets at the beginning of 2019. His findings are as follows. Accumulated Depreciation Useful life in Years Date Salvage Value 1/1/19old Proposed Old Proposed 50 $40,000 $36,200 Type of Asset Acquired Cost A. 1/1/13 812,000$115,80040 Building Warehouse 11/14 120,00023,100 2520 4,500 35,400 All assets are depreciated by the straight-line method. Sunland Company uses a calendar year in preparing annual financial statements. After discussion, management has agree Compute the revised annual depreciation on each asset in 2019. lts by BuildingWarehouse Revised annual depreciation Prepare the entry to record depreciation on the building in the amounts.) 019. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select \"No Entry titles are automat Date Account Titles and Explanation Debit Credit Dec. 31 Question Attempts: 0 of 3 usedSolution
1) Building Warehouse Revised Annual Depreciation $ 15,000 $ 4,100 Working: Building Warehouse Costs 8,12,000 1,20,000 Less Accumulated depreciation till 1/1/19 1,15,800 23,100 Book Value a 6,96,200 96,900 Useful Life expired in years 6 5 Revised salvage Value b 36,200 35,400 Revised life 50 20 Revised remaining life c 44 15 Revised depreciation Expense (a-b)/c 15,000 4,100 2) Date Account titles and explanation Debit Credit Dec. 31 Depreciation Expense $ 15,000 Accumulated Depreciation-Building $ 15,000 (To record depreciation expense for 2019)
