ercise m-g CALCULATOR MESSAGE MY INSTRUCTOR FULL SCREEN PRINTER VE esented below

Question

ercise m-g CALCULATOR MESSAGE MY INSTRUCTOR FULL SCREEN PRINTER VE esented below is information related to LeBron James Manufacturing Corporation. ted Salvage 67,230 9,130 55,776 7,968 59,760 5,976 31,540 2,490 39,010 4,150 ompute the rate of depreciation per year to be applied to the plant assets under the composite method. (Rounbanswer to 2 decimal place, e g, 83%. composite rate SHOW LIST OF ACCOUNTS LINK TO TEXT prepare the adjusting entry necessary at the end of the year to record depreciation for the year, (urno entry is required, select "No entry" for the account titles for the amounts. Credit account titles are autonmatically indented when amount is entered. Do not indent manually. Use Plant Assets related account Account Titles and Explanation 20aa 20usuahn watyssons unc. All Rights Reserved. A Division of ohn Wile sens unc

Explanation / Answer

Asset Original Cost Salvage Value Depreciable Cost Depreciable Life Straight Line Depreciation per year A 67230 9130 58100 10 5810 B 55776 7968 47808 9 5312 C 59760 5976 53784 9 5976 D 31540 2490 29050 7 4150 E 39010 4150 34860 6 5810 Total 253316 27058 Composit Rate of Depreciation=Total Depreciation per Year/Total Original Cost 10.68152031 Composite Depreciation Expense=Original Value*Composite Rate 27054.1488 Accounting Entry Depreciation 27054 To Accumulate Depreciation 27054

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