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Page 1 Previous Page Next Page 1 Page 2 Of 17 Ebook De 2 Question 2 11 Points Listen Answer Each Of The Following Inde 1 (20.13 KiB) Viewed 21 times

Page 1 Previous Page Next Page 1 Page 2 of 17 EBOOK de 2 Question 2 (11 points) Listen Answer each of the following independient questions Southeast Airlines purchased an aircranton January 1, 2014, a cost of $33.500,000. Ar time of purchase the estimated selline and estimated residual value of the real were 15 years and $2.000.000 respectively. On January 1, 2021 the airline estimated that the remaining schlife of the aircraft to the years and the residual value to $1,500,000 The Company uses the straight line method No depreciation expense had been recorded in 2021. Determine the amount of Depreciation Expens for 2021 Clearly show calculations for numbers that are not ven (6 palats). 2. Tanner Company purchased equipment on July 1, 2018 for $50,000. It is estimated that the equipment will have a $10,000 residual value at the end of its 7 year useful life. It is located that the equipment will produce 120,000 unite over its 7.year life. Assuming 7,000 units of product reproduced in 2015 and 11,500 units are produced in 2019, what is the net carrying (book) value of the equipment at December 31, 2019 according to the units of production depreciation method Clearly show calculations for numbers that are not ghen (5 points).