Homework Answers
| Calculation of depreciation | ||||||
| a) Straight line method | ||||||
| cost of machine | 199200 | |||||
| less: salvage value | -12000 | |||||
| depreciable value | 187200 | |||||
| depreciation per year (187200/8years) | 23400 | |||||
| depreciation 2020 (23400*3/12) = 5850 | ||||||
| activity method | ||||||
| cost of machine | 199200 | |||||
| less: salvage value | -12000 | |||||
| depreciable value | 187200 | |||||
| estimated production | 36000 | |||||
| depreciation unit (187200/36000) | 5.2 | |||||
| depreciation 2020 = 1100 unit *5.20 = 5720 | ||||||
| activity method (working hour) | ||||||
| depreciable value | 187200 | |||||
| estimated working hour | 20000 | |||||
| depreciation per hour | 9.36 | |||||
| depreciation 2020 (500unit*9.36) | 4680 | |||||
| sum of the year digit method | ||||||
| depreciation 2022 | 187200*7/36*9/12 = 27300 | |||||
| depreciation 2022 | 187200*6/36*3/12 = 7800 | |||||
| sum of digit = 8+7+6+5+4+3+2+1 = 36 | ||||||
| depreciation 2022 = (27300+7800) = 35100 | ||||||
| double decline method | ||||||
| rate of depreciation = 1/life *2 | ||||||
| rate = 1/8years*2 = 0.25 (i.e. 25%) | ||||||
| Depreciatio for 2020 = 199200*25%*3/12 = 12450 | ||||||
| depreciation for year 2021 = (199200-12450)*25% = 46688 | ||||||
| a) straight line method 2020 | 5850 | |||||
| b) activity method (unit of output) for 2020 | 5720 | |||||
| c) activity method (working hours) for 2020 | 4680 | |||||
| d) sum of the years digit method for 2022 | 35100 | |||||
| e) double declining balance method 2021 | 46688 | |||||
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