Non cash liquidating distributions

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On January 2, 2015, Kerwin Company purchased a patent for ,000.The patent has an estimated useful life of 25 years and a 20-year legal life.

Compute the depreciation for the second year under each of the methods below and place your answers in the blanks provided.

Units-of-activity $ On January 1, 2013, Santo Company purchased a computer system for ,500.

The system had an estimated useful life of 5 years and no salvage value.

The machine is expected to have a ,000 salvage value at the end of its 5-year useful life.

Instructions Compute annual depreciation for the first and second years using the (a) straight-line method. Alvarado Company purchased a new machine for 0,000.

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