Cheetah Copy purchased a new copy machine. The new machine cost $108,000 including installation.
Cheetah Copy purchased a new copy machine. The new machine cost $108,000 including installation. The company estimates the equipment will have a residual value of $27,000. Cheetah Copy also estimates it will use the machine for four years or about 8,000 total hours. Actual use per year was as follows:
2. Prepare a depreciation schedule for four years using the double-declining-balance method. (Hint: The asset will be depreciated in only two years.) (Do not round your intermediate calculations.)
Homework Answers
Double decline rate = 100/4*2 = 50%
| Year | Depreciation expense | Accumulated depreciation | Book value |
| 1 | 108000*50% = 54000 | 54000 | 54000 |
| 2 | 54000*50% = 27000 | 81000 | 27000 |
| 3 | 0 | 81000 | 27000 |
| 4 | 0 | 81000 | 27000 |
| Total | 81000 | ||
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Cheetah Copy purchased a new copy machine. The new machine cost $108,000 including installation.
Required information [The following information applies to the questions displayed below.] Cheetah Copy purchased a new...
Required information [The following information applies to the questions displayed below.] Cheetah Copy purchased a new copy machine. The new machine cost $108,000 including installation. The company estimates the equipment will have a residual value of $27,000. Cheetah Copy also estimates it will use the machine for four years or about 8,000 total hours. Actual use per year was as follows: Hours Used Year 1 3,000 2,000 1,600 2,400 2 3 4 Required: 1. Prepare a depreciation schedule for four...
Required information The following information applies to the questions displayed below.] Cheetah Copy purchased a new...
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Problem 7-5B Determine depreciation under three methods
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information applies to the questions displayed below.]
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installation. The company estimates the equipment will have a
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the machine for four years or about 8,000 total hours. Actual use
per year was as follows:
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Problem 7-5B Determine depreciation under three methods
(LO7-4)
[The following
information applies to the questions displayed below.]
Cheetah Copy purchased
a new copy machine. The new machine cost $134,000 including
installation. The company estimates the equipment will have a
residual value of $33,500. Cheetah Copy also estimates it will use
the machine for four years or about 8,000 total hours. Actual use
per year was as follows:
Required information Problem 7-5B Determine depreciation under three methods (LO7-4) [The following information...
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