Splish Company purchased equipment for $246,000 on October 1,
2020. It is estimated that the equipment will have a useful life of
8 years and a salvage value of $15,600. Estimated production is
36,000 units and estimated working hours are 20,000. During 2020,
Splish uses the equipment for 530 hours and the equipment produces
1,100 units.
Compute depreciation expense under each of the following methods.
Splish is on a calendar-year basis ending December 31.
(Round rate per hour and rate per unit to 2 decimal
places, e.g. 5.35 and final answers to 0 decimal places, e.g.
45,892.)
(a) |
Straight-line method for 2020 |
$enter a dollar amount |
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---|---|---|---|---|
(b) |
Activity method (units of output) for 2020 |
$enter a dollar amount |
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(c) |
Activity method (working hours) for 2020 |
$enter a dollar amount |
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(d) |
Sum-of-the-years'-digits method for 2022 |
$enter a dollar amount |
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(e) |
Double-declining-balance method for 2021 |
$enter a dollar amount |
Splish Company purchased equipment for $246,000 on October 1, 2020. It is estimated that the equipment...
Skysong Company purchased equipment for $199,200 on October 1, 2020. It is estimated that the equipment will have a useful life of 8 years and a salvage value of $12,000. Estimated production is 36,000 units and estimated working hours are 20,000. During 2020, Skysong uses the equipment for 500 hours and the equipment produces 1,100 units. Compute depreciation expense under each of the following methods. Skysong is on a calendar-year basis ending December 31. (Round rate per hour and rate...
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Blue Company purchased equipment for $266,000 on October 1, 2020. It is estimated that the equipment will have a useful life of 8 years and a salvage value of $14,000. Estimated production is 40,000 units and estimated working hours are 20,000. During 2020, Blue uses the equipment for 530 hours and the equipment produces 1,100 units. Compute depreciation expense under each of the following methods. Blue is on a calendar-year basis ending December 31. (Round rate per hour and rate...
Nash Company purchased equipment for $199,200 on October 1, 2020. It is estimated that the equipment will have a useful life of 8 years and a salvage value of $12,000. Estimated production is 36,000 units and estimated working hours are 20,000o. During 2020, Nash uses the equipment for 500 hours and the equipment produces 1,100 units. Compute depreciation expense under each of the following methods. Nash is on a calendar-year basis ending December 31. (Round rate per hour and rate...
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Blue Company purchased equipment for $266,000 on October 1, 2020. It is estimated that the equipment will have a useful life of 8 years and a salvage value of $14,000. Estimated production is 40,000 units and estimated working hours are 20,000. During 2020, Blue uses the equipment for 530 hours and the equipment produces 1,100 units. Compute depreciation expense under each of the following methods. Blue is on a calendar-year basis ending December 31. (Round rate per hour and rate...
Blue Company purchased equipment for $266,000 on October 1, 2020. It is estimated that the equipment will have a useful life of 8 years and a salvage value of $14,000. Estimated production is 40,000 units and estimated working hours are 20,000. During 2020, Blue uses the equipment for 530 hours and the equipment produces 1,100 units. Compute depreciation expense under each of the following methods. Blue is on a calendar-year basis ending December 31. (Round rate per hour and rate...
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