Homework Answers
| Straight-Line Depreciation Schedule | ||||||
| Date | Asset Cost | Depreciable Cost | Useful Life | Depreciation Exp. | Acc. Dep | Book Value |
| 1-2-2018 | $15,000 | $15,000 | ||||
| 12-31-2018 | $12,000 | 4 years | $3,000 | $3,000 | $12,000 | |
| 12-31-2019 | $12,000 | 4 years | $3,000 | $6,000 | $9,000 | |
| 12-31-2020 | $12,000 | 4 years | $3,000 | $9,000 | $6,000 | |
| 12-31-2021 | $12,000 | 4 years | $3,000 | $12,000 | $3,000 | |
| Depreciation per year = ($15,000 - $3,000)/4 = $3,000 | ||||||
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Hearty Fried Chicken bought equipment on January 2, 2018, for $15,000. The equipment was expected to...
Hearty Fried Chicken bought equipment on January 2, 2018, for $15,000. The equipment was expected to...
Hearty Fried Chicken bought equipment on January 2, 2018, for $15,000. The equipment was expected to remain in service for four years and to operate for 2,400 hours. At the end of the equipment's useful life, Hearty estimates that its residual value will be $3,000. The equipment operated for 240 hours the first year, 720 hours the second year, 960 hours the third year, and 480 hours the fourth year. Read the requirements. Prepare a depreciation schedule using the units-of-production...
Hearty Fried Chicken bought equipment on January 2, 2018, for $15,000. The equipment was expected to...
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Hearty Fried Chicken bought equipment on January 2, 2018, for $15,000. The equipment was expected to remain in service for four years and to operate for 2,400 hours. At the end of the equipment's useful life, Hearty estimates that its residual value will be $3,000. The equipment operated for 240 hours the first year, 720 hours the second year, 960 hours the third year, and 480 hours the fourth year. Read the requirements. Prepare a depreciation schedule using the double-declining-balance...
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