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Lecture Discussion For Depreciation Expense October 14 2020
Lecture Discussion For Depreciation Expense October 14 2020
Depreciation expense = 120,000 – 20,000 / 5 years = 20,000 depreciation expense annually / yearly
= 20,000/12 = 1,667 = monthly depreciation expense
Depreciation expense for 2015 = 18,337 = (1,667 monthly depreciation x 11 months from Feb 1 to December 31, 2015)
1. Prepare adjusting entry at the end of December 31, 2015 – presented above
2. Prepare adjusting entry at the end of December 31, 2016 – presented above
3. How much is the total accumulated depreciation for 2015? =18,337
4. How much is the total accumulated depreciation for 2016? = 38337
5. How much is the total accumulated depreciation for 2017? = 58,337
6. How much is the net book value for 2015? = 101,663
7. How much is the net book value for 2016? = 81,663
8. How much is the net book value for 2017? = 61,663
For your exercises – Answer the following Problems. Write your answer on a one whole sheet of paper and send to me
via messenger not later than 4 pm today.
2. Acquired office furniture on April 1, 2015 that cost, P 150,000 and has a useful life of 5 years and a salvage value at the
end of its life of P 20,000.
1. Prepare adjusting entry at the end of December 31, 2015 .
2. Prepare adjusting entry at the end of December 31, 2016 .
3. How much is the total accumulated depreciation for 2015?
4. How much is the total accumulated depreciation for 2016?
5. How much is the total accumulated depreciation for 2017?
6. How much is the net book value for 2015?
7. How much is the net book value for 2016?
8. How much is the net book value for 2017?
3. Acquired office furniture on June 1, 2015 that cost, P 240,000 and has a useful life of 5 years with no salvage value at the
end of its life.
1. Prepare adjusting entry at the end of December 31, 2015 .
2. Prepare adjusting entry at the end of December 31, 2016 .
3. How much is the total accumulated depreciation for 2015?
4. How much is the total accumulated depreciation for 2016?
5. How much is the total accumulated depreciation for 2017?
6. How much is the net book value for 2015?
7. How much is the net book value for 2016?
8. How much is the net book value for 2017?
9. How much is the net book value for 2020?