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Annual Depreciation Coinciding With The Calendar Year-End

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Caryl May Esparrago Mira

This document provides instructions for a lesson on straight-line depreciation. It includes two examples of companies that purchased equipment, one on January 1st and one on April 1st, and asks the student to calculate annual depreciation expenses and adjust the asset values over 5 years using straight-line depreciation. Tables are provided to fill in the depreciation amounts each year.

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Annual Depreciation Coinciding With The Calendar Year-End

Uploaded by

Caryl May Esparrago Mira
54 views1 page
This document provides instructions for a lesson on straight-line depreciation. It includes two examples of companies that purchased equipment, one on January 1st and one on April 1st, and asks the student to calculate annual depreciation expenses and adjust the asset values over 5 years using straight-line depreciation. Tables are provided to fill in the depreciation amounts each year.

Original Title

Handout 021

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This document provides instructions for a lesson on straight-line depreciation. It includes two examples of companies that purchased equipment, one on January 1st and one on April 1st, and asks the student to calculate annual depreciation expenses and adjust the asset values over 5 years using straight-line depreciation. Tables are provided to fill in the depreciation amounts each year.

Copyright:

© All Rights Reserved
Download as PDF, TXT or read online from Scribd
Download as pdf or txt
54 views1 page

Annual Depreciation Coinciding With The Calendar Year-End

Uploaded by

Caryl May Esparrago Mira
This document provides instructions for a lesson on straight-line depreciation. It includes two examples of companies that purchased equipment, one on January 1st and one on April 1st, and asks the student to calculate annual depreciation expenses and adjust the asset values over 5 years using straight-line depreciation. Tables are provided to fill in the depreciation amounts each year.

Copyright:

© All Rights Reserved
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This is

Handout 021 Depreciation

Please use this handout for


Lesson 021 Adjusting Entries 5 – Straight-Line Depreciation

Annual Depreciation coinciding with the calendar year-end


Jimin Company purchased equipment on January 1, 2020 amounting to P500,000 with residual value of
P50,000 and life of five (5) years. Prepare adjusting entries on asset depreciation and fill up the depreciation
table.

Date Depreciation Expense Accumulated Carrying Value


Depreciation
January 1, 2020 500,000
December 31, 2020
December 31, 2021
December 31, 2022
December 31, 2023
December 31, 2024

Annual Depreciation not coinciding with the calendar year-end


Jimin Company purchased equipment on April 1, 2020 amounting to P500,000 with residual value of
P50,000 and life of five (5) years. Prepare adjusting entries on asset depreciation and fill up the depreciation
table.

Date Depreciation Expense Accumulated Carrying Value


Depreciation
January 1, 2020 500,000
December 31, 2020
December 31, 2021
December 31, 2022
December 31, 2023
December 31, 2024
December 31, 2025

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