For Each of the Following Fixed Assets,determine the Depreciation Expense

question 154

Essay

For each of the following fixed assets,determine the depreciation expense for Year 3: Disposal date is N/A if asset is still in use.
Method: SL = straight line; DDB = double declining balance Assume the estimated life is 5 years for each asset.

$\begin{array}{|l|c|c|c|c|c|c|}\hline & & & & & & \\\text { Item } & \text { Cost } & \begin{array}{c}\text { Residual } \\\text { Value }\end{array} & \text { Purchase Date } & \text { Disposal Date } & \begin{array}{c}\text { Depr. } \\\text { Method }\end{array} & \begin{array}{c}\text { Depr. } \\\text { Expense } \\\text { Year 3 }\end{array} \\\hline \text { A } & \$ 40,000 & \$ 4,000 & \text { July 1, Year 3 } & \text { N/A } & \text { SL } & \\\hline \text { B } & \$ 50,000 & \$ 5,000 & \text { Jan. 1,Year 1 } & \text { Aug. 31,Year 3 } & \text { SL } & \\\hline \text { C } & \$ 60,000 & \$ 2,000 & \text { Oct. 1, Year 3 } & \text { N/A } & \text { DDB } & \\\hline \text { D } & \$ 80,000 & \$ 10,000 & \text { Jan. 1, Year 2 } & \text { April 1,Year 3 } & \text { DDB } & \\\hline\end{array}$

Identify the types of memory and the role of working memory in information processing.

Understand the core knowledge perspective and its assertions about innate cognitive abilities.

Recognize the importance of attention and categorization in infant cognitive development.

Describe experimental methods and tasks used to study infant cognition and memory.

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Definitions:

Contract

A legally binding agreement between two or more parties, outlining the terms and conditions under which specified actions are to be performed.

Recognize Revenue

The accounting principle dictating that revenue is reported at the time it is earned, regardless of when payment is actually received.

Contract Services

External services hired through a contractual agreement to perform tasks or projects that are typically beyond the capacity or expertise of the hiring organization's staff.

Revenue Accounts

Accounts used to track the income generated from a company's operations or activities.