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Brief Exercise 7-32 (Algorithmic) Depreciation Methods On January 1, 2019, Loeffler Company acquired a machine at...
Depreciation Methods Gruman Company purchased a machine for $198,000 on January 2, 2019. It made the...
Depreciation Methods Gruman Company purchased a machine for $198,000 on January 2, 2019. It made the following estimates: Service life 5 years or 10,000 hours Production 180,000 units Residual value $ 18,000 In 2019, Gruman uses the machine for 2,000 hours and produces 45,000 units. In 2020, Gruman uses the machine for 1,400 hours and produces 34,000 units. If required, round your final answers to the nearest dollar. Required: Compute the depreciation for 2019 and 2020 under each of the...
Exercise 7-48 (Algorithmic) Depreciation Methods Berkshire Corporation purchased a copying machine for $9,800 on January 1,...
Exercise 7-48 (Algorithmic) Depreciation Methods Berkshire Corporation purchased a copying machine for $9,800 on January 1, 2019. The machine's residual value was $1,175 and its expected life was 5 years or 2,000,000 copies. Actual usage was 480,000 copies in the first year and 442,000 in the second year Required: 1. Compute depreciation expense for 2019 and 2020 using the: a. Straight-line method Depreciation expense: $ 1,725 per year b. Double-declining-balance method Depreciation Expense 2019 $ 3,920 2020 $ 2,352 c....
please help eBook Calculator 7-32 ethods 2019. Loeffler Company acquired a machine at a cost of...
please help
eBook Calculator 7-32 ethods 2019. Loeffler Company acquired a machine at a cost of $200,000. Loeffler estimates that it will use the machine for 4 years or 8,000 machine hours. It estimates that after 4 years the machine can be sold for $20. e machine for 2,100 and 1,800 machine hours in 2019 and 2020, respectively. eciation expense for 2019 and 2020 using the: e method of depreciation. preciation Expense $ 45,000 $ 45,000 dining balance method of...
Preparing Depreciation Schedules Using Various Depreciation Methods Frito Inc. acquired equipment on January 1, 2020, at...
Preparing Depreciation Schedules Using Various Depreciation Methods Frito Inc. acquired equipment on January 1, 2020, at a cost of $12,000 that is estimated to have a useful life of five years and a residual value of $3,000. Required Prepare a depreciation schedule showing annual depreciation expense and year-end accumulated depreciation and book value over the life of the asset using the following methods. a. Straight-line method. b. Sum-of-the-years'-digits method. C. Double-declining-balance method. Straight-line Sum-of-the-years'-digits Double-declining balance c. Double-Declining-Balance Depreciation Method...
P11-1 Depreciation Methods LO 1L2 Winsey Company purchased equipment on January 2, 2019, for $700,000. The...
P11-1 Depreciation Methods LO 1L2 Winsey Company purchased equipment on January 2, 2019, for $700,000. The equipment has the following characteristics: SHOW ME HOW Estimated service life Estimated residual value 20 years, 100,000 hours, 950,000 units of output $50,000 During 2019 and 2020, the company used the machine for 4,500 and 5,500 hours, respectively, and produced 40,000 and 60,000 units, respectively. Required: Compute depreciation expense for 2019 and 2020 under each of the following methods: 1 straight-line method 2. activity...
Preparing Depreciation Schedules Using Various Depreciation Methods Frito Inc. acquired equipment on January 1, 2020, at...
Preparing Depreciation Schedules Using Various Depreciation Methods Frito Inc. acquired equipment on January 1, 2020, at a cost of $12,000 that is estimated to have a useful life of five years and a residual value of $3,000. Required Prepare a depreciation schedule showing annual depreciation expense and year-end accumulated depreciation and book value over the life of the asset using the following methods. a. Straight-line method. b. Sum-of-the-years'-digits method. c. Double-declining-balance method. Straight-line Sum-of-the-years'-digits Double-declining balance a. Straight-Line Depreciation Method...
Preparing Depreciation Schedules Using Various Depreciation Methods Frito Inc. acquired equipment on January 1, 2020, a...
Preparing Depreciation Schedules Using Various Depreciation Methods Frito Inc. acquired equipment on January 1, 2020, at a cost of $12,000 that is estimated to have a useful life of five years and a residual value of $3,000 Required Prepare a depreciation schedule showing annual depreciation expense and year-end accumulated depreciation and book value over the life of the asset using the following methods. a. Straight-line method. b. Sum-of-the-years'-digits method. c. Double-declining-balance method. Straight-line Sum-of-the-years'-digits Double-declining balance b. Sum-of-the-Years'-Digits Depreciation Method...
a JUSaERan, H.. eBook Show Me How Calculator Print item Exercise 7-48 (Algorithmic) Depreciation Methods Berkshire...
a JUSaERan, H.. eBook Show Me How Calculator Print item Exercise 7-48 (Algorithmic) Depreciation Methods Berkshire Corporation purchased a copying machine for $9,800 on January 1, 2019. The machine's residual value was $1,175 and its expected life was 5 years or 2,000,000 copies. Actual usage was 480,000 copies in the first year and 460,000 in the second year. Required: 1. Compute depreciation expense for 2019 and 2020 using the: a. Straight-line method. Depreciation expense: : per year b. Double-declining-balance method....
Q1 On January 1, 2019, Locke Company, a small machine-tool manufacturer, acquired for equipment. The new...
Q1 On January 1, 2019, Locke Company, a small machine-tool manufacturer, acquired for equipment. The new equipment had a useful life of was estimated to be Use the following depreciation methods to calculate the depreciation expense for 2019, 2020, and 2021 $666,000 a piece of new industrial years, and the salvage value $66,000 . Locke estimates that the new equipment can produce (a) Straight-line, (b) Double-declining balance, (c) Sum-of-years'-digits.
Depreciation Methods Gruman Company purchased a machine for $198,000 on January 2, 2016. It made the...
Depreciation Methods Gruman Company purchased a machine for $198,000 on January 2, 2016. It made the following estimates: Service Life 5 years or 10,000 hours Production 180,000 units Residual value $18,000 In 2016, Gruman uses the machine for 1,700 hours and produces 45,000 units. In 2017, Gruman uses the machine for 1,400 hours and produces 30,000 units. If required, round your final answers to the nearest dollar. Required: 1. Compute the depreciation for 2016 and 2017 under each of the...
Exercise 7-48 (Algorithmic) Depreciation Methods Berkshire Corporation purchased a copying machine for $9,800 on January 1, 2019. The machine's residual value was $1,175 and its expected life was 5 years or 2,000,000 copies. Actual usage was 480,000 copies in the first year and 442,000 in the second year Required: 1. Compute depreciation expense for 2019 and 2020 using the: a. Straight-line method Depreciation expense: $ 1,725 per year b. Double-declining-balance method Depreciation Expense 2019 $ 3,920 2020 $ 2,352 c....
please help
eBook Calculator 7-32 ethods 2019. Loeffler Company acquired a machine at a cost of $200,000. Loeffler estimates that it will use the machine for 4 years or 8,000 machine hours. It estimates that after 4 years the machine can be sold for $20. e machine for 2,100 and 1,800 machine hours in 2019 and 2020, respectively. eciation expense for 2019 and 2020 using the: e method of depreciation. preciation Expense $ 45,000 $ 45,000 dining balance method of...
Preparing Depreciation Schedules Using Various Depreciation Methods Frito Inc. acquired equipment on January 1, 2020, at a cost of $12,000 that is estimated to have a useful life of five years and a residual value of $3,000. Required Prepare a depreciation schedule showing annual depreciation expense and year-end accumulated depreciation and book value over the life of the asset using the following methods. a. Straight-line method. b. Sum-of-the-years'-digits method. C. Double-declining-balance method. Straight-line Sum-of-the-years'-digits Double-declining balance c. Double-Declining-Balance Depreciation Method...
P11-1 Depreciation Methods LO 1L2 Winsey Company purchased equipment on January 2, 2019, for $700,000. The equipment has the following characteristics: SHOW ME HOW Estimated service life Estimated residual value 20 years, 100,000 hours, 950,000 units of output $50,000 During 2019 and 2020, the company used the machine for 4,500 and 5,500 hours, respectively, and produced 40,000 and 60,000 units, respectively. Required: Compute depreciation expense for 2019 and 2020 under each of the following methods: 1 straight-line method 2. activity...
Preparing Depreciation Schedules Using Various Depreciation Methods Frito Inc. acquired equipment on January 1, 2020, at a cost of $12,000 that is estimated to have a useful life of five years and a residual value of $3,000. Required Prepare a depreciation schedule showing annual depreciation expense and year-end accumulated depreciation and book value over the life of the asset using the following methods. a. Straight-line method. b. Sum-of-the-years'-digits method. c. Double-declining-balance method. Straight-line Sum-of-the-years'-digits Double-declining balance a. Straight-Line Depreciation Method...
Preparing Depreciation Schedules Using Various Depreciation Methods Frito Inc. acquired equipment on January 1, 2020, at a cost of $12,000 that is estimated to have a useful life of five years and a residual value of $3,000 Required Prepare a depreciation schedule showing annual depreciation expense and year-end accumulated depreciation and book value over the life of the asset using the following methods. a. Straight-line method. b. Sum-of-the-years'-digits method. c. Double-declining-balance method. Straight-line Sum-of-the-years'-digits Double-declining balance b. Sum-of-the-Years'-Digits Depreciation Method...
a JUSaERan, H.. eBook Show Me How Calculator Print item Exercise 7-48 (Algorithmic) Depreciation Methods Berkshire Corporation purchased a copying machine for $9,800 on January 1, 2019. The machine's residual value was $1,175 and its expected life was 5 years or 2,000,000 copies. Actual usage was 480,000 copies in the first year and 460,000 in the second year. Required: 1. Compute depreciation expense for 2019 and 2020 using the: a. Straight-line method. Depreciation expense: : per year b. Double-declining-balance method....
Q1 On January 1, 2019, Locke Company, a small machine-tool manufacturer, acquired for equipment. The new equipment had a useful life of was estimated to be Use the following depreciation methods to calculate the depreciation expense for 2019, 2020, and 2021 $666,000 a piece of new industrial years, and the salvage value $66,000 . Locke estimates that the new equipment can produce (a) Straight-line, (b) Double-declining balance, (c) Sum-of-years'-digits.
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