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  • ABM 1-W6.M3.T1.L3.Student Activity3

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    York Company had three fixed assets: machinery purchased in November 2018 for $900,000 with a scrap value of $100,000 and useful life of 8 years; a vehicle purchased in October 2019 for $300,000 with a scrap value of $50,000 and useful life of 10 years; and office equipment purchased in September 2020 for $150,000 with a scrap value of $30,000 and useful life of 5 years. The summary provides the depreciation journal entries to be made for 2019 and 2020 based on the cost, scrap value, useful life, and purchase date of each fixed asset.

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    Student activity for basic accounting subject

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    York Company had three fixed assets: machinery purchased in November 2018 for $900,000 with a scrap value of $100,000 and useful life of 8 years; a vehicle purchased in October 2019 for $300,000 with a scrap value of $50,000 and useful life of 10 years; and office equipment purchased in September 2020 for $150,000 with a scrap value of $30,000 and useful life of 5 years. The summary provides the depreciation journal entries to be made for 2019 and 2020 based on the cost, scrap value, useful life, and purchase date of each fixed asset.

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    © All Rights Reserved
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    3 views1 page

    ABM 1-W6.M3.T1.L3.Student Activity3

    Uploaded by

    mbilolo
    York Company had three fixed assets: machinery purchased in November 2018 for $900,000 with a scrap value of $100,000 and useful life of 8 years; a vehicle purchased in October 2019 for $300,000 with a scrap value of $50,000 and useful life of 10 years; and office equipment purchased in September 2020 for $150,000 with a scrap value of $30,000 and useful life of 5 years. The summary provides the depreciation journal entries to be made for 2019 and 2020 based on the cost, scrap value, useful life, and purchase date of each fixed asset.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
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    of 1

    Student Activity # 3

    Provide answers or follow instructions as per below:

    York Company had the following fixed assets for running its business.

    Asset Cost Scrap Value Useful Life Yrs Purchase Date


    Machinery 900,000.00 100,000.00 8 Nov 1, 2018
    Date:

    Vehicle 300,000.00 50,000.00 10 Oct 15, 2019


    Office Equipment 150,000.00 30,000.00 5 Sep 15, 2020

    Prepare the adjusting journal entries for 2019 and 2020 and show your computation on the
    depreciation
    Yr. & Sec.:
    Course:
    Program:
    Name:

    MARINERS’ Legazpi
    ALFAS Learning Module | Page 46

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