Detta corporation purchased new equipment on October 1,2010, for $575,000, the machine was expted to have usefull life for 4 years, or 1,400 prating hours, and a salvage value of $5,000. The equipment was operated for 600hours during 2010 and 4,000 hours in 2011. Calculate the depreciation expense for calendar year 2010 and 2011. Under each following four methods : (1)Straight Line: 2010 ___________ 2011________________ (2) Units of production 2010_______________ 2011_______________ (3) SYD 2010________________ 2011_________________ (4) DDB 2010_______________ 2011__________________ Problem #2 On December 1,2010 company acquired a new delivery truck in exchange for each and a old delivery truck that it had acquired in 2001. The old truck was purchased for $20,000 and had an updated book value of $7,600 on the date of the exchange. At the date the old truck had a market value of $8,000, In addition High paid $26,000 cash for the new truck, which had a list price of $36,000.

Detta corporation purchased new equipment on October 1,2010, for $575,000, the machine was expted to have usefull life for 4 years, or 1,400 prating hours, and a salvage value of $5,000. The equipment was operated for 600hours during 2010 and 4,000 hours in 2011.
Calculate the depreciation expense for calendar year 2010 and 2011.
Under each following four methods :
(1)Straight Line:
2010 ___________ 2011________________

(2) Units of production
2010_______________ 2011_______________
(3) SYD
2010________________ 2011_________________
(4) DDB
2010_______________ 2011__________________








Problem #2
On December 1,2010 company acquired a new delivery truck in exchange for each and a old delivery truck that it had acquired in 2001. The old truck was purchased for $20,000 and had an updated book value of $7,600 on the date of the exchange. At the date the old truck had a market value of $8,000, In addition High paid $26,000 cash for the new truck, which had a list price of $36,000.

* Required- prepare the journal entry necessary to record this equipment trade in.

CLICK HERE TO GET THE ANSWER !!!!