6 NO points ellook Print M Graw Problem 8-1A (Algo) Plant asset costs; depreciation methods LO C1, P1 [The following inf

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6 No Points Ellook Print M Graw Problem 8 1a Algo Plant Asset Costs Depreciation Methods Lo C1 P1 The Following Inf 1 (48.87 KiB) Viewed 22 times

6 No Points Ellook Print M Graw Problem 8 1a Algo Plant Asset Costs Depreciation Methods Lo C1 P1 The Following Inf 2 (51.91 KiB) Viewed 22 times

6 No Points Ellook Print M Graw Problem 8 1a Algo Plant Asset Costs Depreciation Methods Lo C1 P1 The Following Inf 3 (43.45 KiB) Viewed 22 times

6 No Points Ellook Print M Graw Problem 8 1a Algo Plant Asset Costs Depreciation Methods Lo C1 P1 The Following Inf 4 (42.24 KiB) Viewed 22 times

6 No Points Ellook Print M Graw Problem 8 1a Algo Plant Asset Costs Depreciation Methods Lo C1 P1 The Following Inf 5 (37.35 KiB) Viewed 22 times

6 NO points ellook Print M Graw Problem 8-1A (Algo) Plant asset costs; depreciation methods LO C1, P1 [The following information applies to the questions displayed below] With the funds received from equity and debt financing, Cabot Corporation mades a lump-sum purchase of several assets on January 1 at a total cash price of $840,000. The estimated market values of the purchased assets are building. $460.600; land, $284,200, land improvements, $49,000; and four vehicles, $186,200. These assets are intended to support the expansion of the company's operations in year 2. Problem 8-1A (Algo) Part 1-3 Required: 1-a. Allocate the lump-sum purchase price to the separate assets purchased. 1-b. Prepare the journal entry to record the purchase. 2. Compute the first-year depreciation expense on the building using the straight-line method, assuming a 15-year life and a $28,000 salvage value. 3. Compute the first-year depreciation expense on the land improvements assuming a five-year life and double-declining-balance depreciation. Note For Project purposes, the "first-year depreciation expense" for the assets above are recorded during the second year of operations for Cabot Corporation. Complete this question by entering your answers in the tabs below. Required 1A Required 10 Required 2 Required 3 Allocate the lump-sum purchase price to the separate assets purchased. Allocation of total cost Appraised Value K Percent of Total Appraised Value T Total cost of Acquisition Apportioned Cost Check m
Problem 8-1A (Algo) Part 1-3 Required: 1-a. Allocate the lump-sum purchase price to the separate assets purchased. 1-b. Prepare the journal entry to record the purchase. 2. Compute the first-year depreciation expense on the building using the straight-line method, assuming a 15-year life and a $28.000 salvage value. 3. Compute the first-year depreciation expense on the land improvements assuming a five-year life and double-declining-balance depreciation. Note For Project purposes, the "first-year depreciation expense" for the assets above are recorded during the second year of operations for Cabot Corporation. Complete this question by entering your answers in the tabs below. Required 1A Required 18 Required 2 Required 31 Allocate the lump-sum purchase price to the separate assets purchased. Allocation of total Appraised Value Percent of Total Appraised Value cost Total cost of Acquisition Building % Land % Land improvements % Vehicles % Total $ 0 HUDSON 0% X X X Apportioned Cost Required 10 >
nc -faw Required information. Required 1A Required 1B Required 2 Required 3 Prepare the journal entry to record the purchase. View transaction list Journal entry worksheet < Record the costs of lump-sum purchase. Note: Enter debits before credits. General Journal Date Jan 01 Clear entry Record entry Debit Credit View general journal
3. Compute the first-year depreciation expense on the land improvements assuming a five-year life and double-declining-bala depreciation. Note For Project purposes, the "first-year depreciation expense" for the assets above are recorded during the second ye operations for Cabot Corporation. Complete this question by entering your answers in the tabs below. Required 1A Required 18 Required 2 Required 3 Compute the first-year depreciation expense on the building using the straight-line method, assuming a 15-year life and a $28,000 salvage value. (Round your answer to the nearest whole dollar.) Depreciation expense on building < Required 18 Required 3 >
$28,000 3. Compute the first-year depreciation expense on the land improvements assuming a five-year life and double-declining-balance depreciation. Note For Project purposes, the "first-year depreciation expense" for the assets above are recorded during the second year of operations for Cabot Corporation. Complete this question by entering your answers in the tabs below. Required 1A- Required 18 Required 2 Required 3 Compute the first-year depreciation expense on the land improvements assuming a five-year life and double-declining- balance depreciation. Depreciation expense on land improvements < Required 2 Natured 3