Chapter 8 questions Assignment Exercises 8-1

Chapter 8 questions Assignment Exercises 8-1 through 8-5 on pages 365 through 369 •Assignment Exercises 9-1 and 9-2 on pages 370 through 371 Practice Exercise 8-1 Depreciation concept Assume that MHS purchased ipment for $600,000 cash on April 1st (the first day of its fiscal year). This equipment has an expected life of 10years. The salvage value is 10 percent of cost. No equipment was traded in on this purchase. Required: 1. Compute the straight-line depreciation for this purchase. 2. Compute the double declining balance depreciation for this purchase. 8-5 Study the ”Units-of-service” portion of the chapter closely