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On January 1,2011,Crunch Company Paid $100,000 for Equipment with an Estimated

Question 153

Essay

On January 1,2011,Crunch Company paid $100,000 for equipment with an estimated useful life of 5 years and no residual value.
Part A: Calculate the financial statement amounts using each of the depreciation methods below:
On January 1,2011,Crunch Company paid $100,000 for equipment with an estimated useful life of 5 years and no residual value. Part A: Calculate the financial statement amounts using each of the depreciation methods below: Part B: 1.On January 1,2013,Crunch Company sold the equipment for $62,000 cash.Assume straight-line depreciation was used.For each financial statement line item,write in the correct amount in the column that represents the financial statement where the information is found: 2.Show the effect if the truck had been sold for $45,000 cash.
On January 1,2011,Crunch Company paid $100,000 for equipment with an estimated useful life of 5 years and no residual value. Part A: Calculate the financial statement amounts using each of the depreciation methods below: Part B: 1.On January 1,2013,Crunch Company sold the equipment for $62,000 cash.Assume straight-line depreciation was used.For each financial statement line item,write in the correct amount in the column that represents the financial statement where the information is found: 2.Show the effect if the truck had been sold for $45,000 cash. Part B:
1.On January 1,2013,Crunch Company sold the equipment for $62,000 cash.Assume straight-line depreciation was used.For each financial statement line item,write in the correct amount in the column that represents the financial statement where the information is found:
On January 1,2011,Crunch Company paid $100,000 for equipment with an estimated useful life of 5 years and no residual value. Part A: Calculate the financial statement amounts using each of the depreciation methods below: Part B: 1.On January 1,2013,Crunch Company sold the equipment for $62,000 cash.Assume straight-line depreciation was used.For each financial statement line item,write in the correct amount in the column that represents the financial statement where the information is found: 2.Show the effect if the truck had been sold for $45,000 cash. 2.Show the effect if the truck had been sold for $45,000 cash.
On January 1,2011,Crunch Company paid $100,000 for equipment with an estimated useful life of 5 years and no residual value. Part A: Calculate the financial statement amounts using each of the depreciation methods below: Part B: 1.On January 1,2013,Crunch Company sold the equipment for $62,000 cash.Assume straight-line depreciation was used.For each financial statement line item,write in the correct amount in the column that represents the financial statement where the information is found: 2.Show the effect if the truck had been sold for $45,000 cash.

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