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Oct 2017 A machine costing 50.000 with a five year and salva value $2.000 The manager estimates the machine will produce 10.000 units of products during its useful . It actually produces the following units 300 units in Year 1, 2,000 units in Year 2, 3,000 units in Year 3, 2,700 in Year 4.1.200 Years and 800 in Year 6. Compute the Depreciation Expense for three different methods Straight line method Depreciation schedule What is the JEto record Depreciation Expense...
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AKL Machine Works purchased a stamping machine for $135,000 on
January 1, 2012. The machine is expected to have a useful life of 5
years, salvage value of $12,000 and total production life of
250,000 units. During 2012 and 2013, AKL used the stamping machine
to produce 23,450 units in each of the years.
A depreciation schedule is a table that calculates an assets
depreciation expense annual, beginning book value, ending book
value for each year of its useful life....
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Ch.9 3. On Septernber 1, 2017, Mettock Company purchased the following machine for use its production process. The cash price of this machine was $49,500. Related expenditures included: sales tax $3,400, shipping costs $100, insurance during shipping $110, installation and testing costs $90, and $100 of oil and Jubricants to be used with the machinery during its first year of operation Metlock estimates that the useful life of the machine is 5 years with a $4,050 sa remaining at the...
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Nov. 30 (To record the sale of machine) (3) Units-of-Production Debit Credit Date Account Titles and Explanation 2018 Mar. 1 Dec. 31 2019 Nov. 30 (To record depreciation expense) Nov. 30 (To record the sale of machine) SHOW LIST OF ACCOUNTS LINK TO TEXT LINK TO TEXT Complete the following schedule for each method of depreciation and compare the total expense over the two-year period. (Round answers to 0 decimal places, e.g. 5,275.) Straight- Line Double-Diminishing- Balance Units-of- Production Depreciation...
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Question 9 A machine costing $15,000 was purchased. Delivery and installation cost $2.000 and the residual value is $1,000. If the estimated life is 4 years and the business uses double-declining-balance depreciation, what is the first year's annual depreciation? $3,750 $4,250 O c $4,000 O d $8,500 Question 10 Sportsworld purchased a machine for $190,000. The machine has a useful life of 8 years and a residual value of $10,000. Sportsworld estimates that the machine could produce 750,000 units of...
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Crane Company purchased a machine on July 1, 2017, for $900000.
The machine has an estimated useful life of five years and a
salvage value of $190000. The machine is being depreciated from the
date of acquisition by the 150% declining-balance method. For the
year ended December 31, 2017, Crane should record depreciation
expense on this machine of
$270000.
$180000.
$135000.
$106500.
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On Jan. 1, 2017, Ski Corp. purchased a new snow-grooming machine
for $ 50,000. The machine is estimated to have a 10-year life with
a $2,000 salvage value. What journal entry would Ski Corp. make at
Dec. 31, 2017, if it uses straight-line method of depreciation.
1- Calculate depreciation expense.
2- Journalize the first year's depreciation.
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Wildhorse Co. purchased a new machine on October 1, 2017, at a cost of $88,000. The company estimated that the machine has a salvage value of $8,400. The machine is expected to be used for 71,500 working hours during its 8-year life. Compute the depreciation expense under the straight-line method for 2017 and 2018, assuming a December 31 year-end. (Round answers to decimal places, eg. 5,275.) 2017 2018 The depreciation expense under the straight-line method $
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Question 1
On January 1, 2017, Sage SA purchased the following two machines
for use in its production process.
Machine A:
The cash price of this machine was R$36,700. Related
expenditures included: sales tax R$4,000, shipping costs R$130,
insurance during shipping R$60, installation and testing costs
R$100, and R$160 of oil and lubricants to be used with the
machinery during its first year of operations. Sage estimates that
the useful life of the machine is 5 years with a R$5,500...
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disregared the first picture
A machine costing $214,600 with a four-year life and an estimated $17.000 salvage value is installed in Luther Company's factory on January 1. The factory manager estimates the machine will produce 494,000 units of product during its life. It actually produces the following units: 122.400 in Year 1,124,300 in Year 2, 121,300 in Year 3. 136,000 in Year 4. The total number of units produced by the end of Year 4 exceeds the original estimate-this difference...
Oct 2017 A machine costing 50.000 with a five year and salva value $2.000 The manager estimates the machine will produce 10.000 units of products during its useful . It actually produces the following units 300 units in Year 1, 2,000 units in Year 2, 3,000 units in Year 3, 2,700 in Year 4.1.200 Years and 800 in Year 6. Compute the Depreciation Expense for three different methods Straight line method Depreciation schedule What is the JEto record Depreciation Expense...
Ch.9 3. On Septernber 1, 2017, Mettock Company purchased the following machine for use its production process. The cash price of this machine was $49,500. Related expenditures included: sales tax $3,400, shipping costs $100, insurance during shipping $110, installation and testing costs $90, and $100 of oil and Jubricants to be used with the machinery during its first year of operation Metlock estimates that the useful life of the machine is 5 years with a $4,050 sa remaining at the...
Nov. 30 (To record the sale of machine) (3) Units-of-Production Debit Credit Date Account Titles and Explanation 2018 Mar. 1 Dec. 31 2019 Nov. 30 (To record depreciation expense) Nov. 30 (To record the sale of machine) SHOW LIST OF ACCOUNTS LINK TO TEXT LINK TO TEXT Complete the following schedule for each method of depreciation and compare the total expense over the two-year period. (Round answers to 0 decimal places, e.g. 5,275.) Straight- Line Double-Diminishing- Balance Units-of- Production Depreciation...
Question 9 A machine costing $15,000 was purchased. Delivery and installation cost $2.000 and the residual value is $1,000. If the estimated life is 4 years and the business uses double-declining-balance depreciation, what is the first year's annual depreciation? $3,750 $4,250 O c $4,000 O d $8,500 Question 10 Sportsworld purchased a machine for $190,000. The machine has a useful life of 8 years and a residual value of $10,000. Sportsworld estimates that the machine could produce 750,000 units of...
Crane Company purchased a machine on July 1, 2017, for $900000.
The machine has an estimated useful life of five years and a
salvage value of $190000. The machine is being depreciated from the
date of acquisition by the 150% declining-balance method. For the
year ended December 31, 2017, Crane should record depreciation
expense on this machine of
$270000.
$180000.
$135000.
$106500.
Wildhorse Co. purchased a new machine on October 1, 2017, at a cost of $88,000. The company estimated that the machine has a salvage value of $8,400. The machine is expected to be used for 71,500 working hours during its 8-year life. Compute the depreciation expense under the straight-line method for 2017 and 2018, assuming a December 31 year-end. (Round answers to decimal places, eg. 5,275.) 2017 2018 The depreciation expense under the straight-line method $
Question 1
On January 1, 2017, Sage SA purchased the following two machines
for use in its production process.
Machine A:
The cash price of this machine was R$36,700. Related
expenditures included: sales tax R$4,000, shipping costs R$130,
insurance during shipping R$60, installation and testing costs
R$100, and R$160 of oil and lubricants to be used with the
machinery during its first year of operations. Sage estimates that
the useful life of the machine is 5 years with a R$5,500...
disregared the first picture
A machine costing $214,600 with a four-year life and an estimated $17.000 salvage value is installed in Luther Company's factory on January 1. The factory manager estimates the machine will produce 494,000 units of product during its life. It actually produces the following units: 122.400 in Year 1,124,300 in Year 2, 121,300 in Year 3. 136,000 in Year 4. The total number of units produced by the end of Year 4 exceeds the original estimate-this difference...