Can I have the steps provided as well
Depreciation expense = (Original cost-salvage value)/Useful life
Original depreciation = (65800-2000/4) = 15950
Second year depreciation = (65800-15950-2000)/2 = 23925
Third year depreciation = 23925
Can I have the steps provided as well QS 10-7 Computing revised depreciation C2 On January...
QS 10-7 Computing revised depreciation LO C2 points On January 1, the Matthews Band pays $65,800 for sound equipment. The band estimates it will use this equipment for four years and after four years it can sell the equipment for $2,000. Matthews Band uses straight-line depreciation but realizes at the start of the second year that this equipment will last only a total of three years. The Salvage value of changed. XS 03:18:20 Compute the revised depreciation for both the...
QS 8-7 Computing revised depreciation LO C2 On January 1, the Matthews Band pays $67,800 for sound equipment. The band estimates it will use this equipment for five years and after five years it can sell the equipment for $2,000. Matthews Band uses straight-line depreciation but realizes at the start of the second year that this equipment will last only a total of three years. The salvage value is not changed. Compute the revised depreciation for both the second and...
QS 10-5 Computing revised depreciation LO C2 On January 2, 2017, the Matthews Band acquires sound equipment for concert performances at a cost of $66,400. The band estimates it will use this equipment for four years. It estimates that after four years it can sell the equipment for $1,000. Matthews Band uses straight-line depreciation but realizes at the start of the second year that due to concert bookings beyond expectations, this equipment will last only a total of three years....
On January 1, the Matthews Band pays $67,200 for sound equipment. The band estimates it will use this equipment for four years and after four years it can sell the equipment for $1,000. Matthews Band uses straight-line depreciation but realizes at the start of the second year that this equipment will last only a total of three years. The salvage value is not changed. Compute the revised depreciation for both the second and third years. Book value at point of...
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On January 1, the Matthews Band pays $68,000 for sound equipment. The band estimates it will use this equipment for four years and after four years it can sell the equipment for $1,000. Matthews Band uses straight-line depreciation but realizes at the start of the second year that this equipment will last only a total of...
QS 10-4 Units-of-production depreciation LO P1 On January 1, the Matthews Band pays $65,800 for sound equipment. The band estimates it will use this equipment for four years and perform 200 concerts. It estimates that after four years it can sell the equipment for $2.000 During the first year the band performs 45 concerts. Compute the first-year depreciation using the units-of-production method. Select formula for the depreciation rate of Units of Production: Calculate the first year deprecilation expense Depreciation per...
Ex 10-3 On January 1, the Matthews Band pays $65,800 for sound equipment. The band estimates it will use this equipment for four years and perform 200 concerts. It estimates that after four years it can sell the equipment for S2,000. During the first year, the band performs 45 concerts. Compute the first-year depreciation using the straight-line method.Ex 10-4 On January 1, the Matthews Band pays $65,800 for sound equipment. The band estimates it will use this equipment for four years and perform...
Check my QS 10-3 Straight-line depreciation LO P1 On January 1, the Matthews Band pays $66.400 for sound equipment. The band estimates it will use this equipment for four years and perform 200 concerts. It estimates that after four years it can sell the equipment for $1.000. During the first year, the band performs 45 concerts Compute the first-year depreciation using the straight-line method Straight Line Depreciation Choose Numerator: Choose Denominator: Annual Depreciation Expense Depreciation expense
QS 8-3 Straight-line depreciation LO P1 On January 2, 2015, the Matthews Band acquires sound equipment for concert performances at a cost of $66,000. The band estimates it will use this equipment for 4 years, during which time it anticipates performing about 200 concerts. It estimates that after four years it can sell the equipment for $1,000. During year 2015, the band performs 45 concerts. Compute the year 2015 depreciation using the straight-line method. Depreciation expense - 2015
QS 8-4 Units-of-production depreciation LO P1 On January 2, 2015, the Matthews Band acquires sound equipment for concert performances at a cost of $67,000. The band estimates it will use this equipment for 5 years, during which time it anticipates performing about 200 concerts. It estimates that after five years it can sell the equipment for $2,000. During year 2015, the band performs 55 concerts. Compute the year 2015 depreciation using the units-of-production method Select formula for the depreciation rate...