Pearl Company shows the following entries in its Equipment account for 2018. All amounts are...
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Accounting
Pearl Company shows the following entries in its Equipment account for 2018. All amounts are based on historical cost.
Assuming that depreciation is to be charged for a full year on the ending balance in the asset account, compute the proper depreciation charge for 2018 under each of the methods listed below. Assume an estimated life of 10 years, with no salvage value. The machinery included in the January 1, 2018, balance was purchased in 2016. (Round answers to 0 decimal places, e.g. 45,892.)
Sum-of-the-years'-digit =
Equipment 2018 2018 Jan. 1 Balance 129,860 June 30 Cost of equipment sold 31,620 710 2,810 500 Aug. 10 Purchases (purchased prior to 2018) 21,190 12 Freight on equipment purchased 25 Installation costs Nov. 10 Repairs
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