## Question

###### Revise your worksheet to reflect these updated assumptions and then answer the questions that follow. Original...

Revise your worksheet to reflect these updated assumptions and then answer the questions that follow. Original Cost Estimated Residual Value $141,600 35,400 Estimated Useful Years 6 Estimated Units 48,000 Actual Units: Year 1 4,800 8,640 10,560 11,520 9,600 Year 2 Year 3 Year 4 Year 5 Year 6 7,680 52,800

Required: 1. Use your spreadsheet to recalculate Depreciation Expense, Accumulated Depreciation, and the Book Value for Year 6 under each method. Note your revised values below. Double-Declining- Activity-Based Straight-Line Balance Depreciation Expense Accumulated Depreciation Book Value

2. Prepare the journal entry to record depreciation in Year 6 for each of the methods. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)

Record the Depreciation Expense for the period under the straight-line method

ww Record the Depreciation Expense for the period under the double-declining- balance method.

Record the Depreciation Expense for the period under the activity-based method.

## Answers

1) Calculate following

Straight line Double decline Activity method Depreciation expense (141600-35400/6) = 17700 0 2880*2.2125 = 6372 Accumulated depreciation 17700*6 = 106200 106200 106200 Book value at year end 141600-106200 = 35400 35400 35400 2a) Journal entry

Date account and explanation Debit Credit depreciation expense 17700 Accumulated depreciation 17700 2b) Journal entry

Date account and explanation Debit Credit No entry 2c) Journal entry

Date account and explanation Debit Credit depreciation expense 6372 Accumulated depreciation 6372

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