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Splish Corporation bought a machine on June 1, 2018, for $38,400, f.o.b. the place of manufacture....
Exercise 11-08 Oriole Corporation bought a machine on June 1, 2018, for $37,200, f.o.b. the place...
Exercise 11-08 Oriole Corporation bought a machine on June 1, 2018, for $37,200, f.o.b. the place of manufacture. Freight to the point where it was set up was $240, and $600 was expended to install it. The machine’s useful life was estimated at 10 years, with a salvage value of $3,000. On June 1, 2019, an essential part of the machine is replaced, at a cost of $2,376, with one designed to reduce the cost of operating the machine. The...
Pearl Corporation bought a machine on June 1, 2015, for $33,170, f.o.b. the place of manufacture....
Pearl Corporation bought a machine on June 1, 2015, for $33,170, f.o.b. the place of manufacture. Freight to the point where it was set up was $214, and $535 was expended to install it. The machine’s useful life was estimated at 10 years, with a salvage value of $2,675. On June 1, 2016, an essential part of the machine is replaced, at a cost of $2,119, with one designed to reduce the cost of operating the machine. The cost of...
Pharoah Corporation bought a machine on June 1, 2015, for $36,270, f.o.b. the place of manufacture....
Pharoah Corporation bought a machine on June 1, 2015, for $36,270, f.o.b. the place of manufacture. Freight to the point where it was set up was $234, and $585 was expended to install it. The machine’s useful life was estimated at 10 years, with a salvage value of $2,925. On June 1, 2016, an essential part of the machine is replaced, at a cost of $2,317, with one designed to reduce the cost of operating the machine. The cost of...
Pharoah Corporation bought a machine on June 1, 2015, for $36,270, f.o.b. the place of manufactur...
Pharoah Corporation bought a machine on June 1, 2015, for $36,270, f.o.b. the place of manufacture. Freight to the point where it was set up was $234, and $585 was expended to install it. The machine’s useful life was estimated at 10 years, with a salvage value of $2,925. On June 1, 2016, an essential part of the machine is replaced, at a cost of $2,317, with one designed to reduce the cost of operating the machine. The cost of...
Exercise 11-8 Your answer is incorrect. Try again. Marin Corporation bought a machine on June 1,...
Exercise 11-8 Your answer is incorrect. Try again. Marin Corporation bought a machine on June 1, 2015, for $35,650, fob. the place of manufacture. Freight to the point where it was set up was $230, and $575 was expended to install it. The machine's useful life was estimated at 10 years, with a salvage value of $2,875. On June 1, 2016, an essential part of the machine is replaced, at a cost of $2,277, with one designed to reduce the...
In 1993, Splish Company completed the construction of a building at a cost of $2,480,000 and...
In 1993, Splish Company completed the construction of a building at a cost of $2,480,000 and first occupied it in January 1994. It was estimated that the building will have a useful life of 40 years and a salvage value of $75,200 at the end of that time. Early in 2004, an addition to the building was constructed at a cost of $620,000. At that time, it was estimated that the remaining life of the building would be, as originally...
A company is considering investing in a new machine to replace an old machine. The estimated...
A company is considering investing in a new machine to replace an old machine. The estimated operating costs of the two machines per year are: OLD MACHINE NEW MACHINE DEPRECIATION $64,000 $96,000 LABOR $230,400 $173,600 REPAIRS $62,400 $13,600 OTHER COST $38,400 $9,600 The cost of the new machine is $480,000, and it has no salvage value at the end of its useful life. a. What is the estimated life of the new machine? b. Compute the payback period for...
On January 1, 2018, a machine was purchased for $120,000. The machine has an estimated salvage...
On January 1, 2018, a machine was purchased for $120,000. The
machine has an estimated salvage value of $9,600 and an estimated
useful life of 5 years. The machine can operate for 120,000 hours
before it needs to be replaced. The company closed its books on
December 31 and operates the machine as follows: 2018, 24,000 hrs;
2019, 30,000 hrs; 2020, 18,000 hrs; 2021, 36,000 hrs; and 2022,
12,000 hrs.
Compute the annual depreciation charges over the machine’s life
assuming...
Splish Company purchased equipment for $246,000 on October 1, 2020. It is estimated that the equipment...
Splish Company purchased equipment for $246,000 on October 1, 2020. It is estimated that the equipment will have a useful life of 8 years and a salvage value of $15,600. Estimated production is 36,000 units and estimated working hours are 20,000. During 2020, Splish uses the equipment for 530 hours and the equipment produces 1,100 units. Compute depreciation expense under each of the following methods. Splish is on a calendar-year basis ending December 31. (Round rate per hour and rate...
On June 1, a machine costing $660,000 with a 5-year life and an estimated $50,000 salvage...
On June 1, a machine costing $660,000 with a 5-year life and an
estimated $50,000 salvage value was purchased. It was also
estimated that the machine would produce 200,000 units during its
life. Actual production would be 40,000 units per year for all five
years.
Using the depreciation template provided, determine the amount
of depreciation expense for the third year under each of the
following assumption
The company uses the double-declining-balance method of
depreciation.
50 Cast Salvage value Depreciable cost...
Exercise 11-8 Your answer is incorrect. Try again. Marin Corporation bought a machine on June 1, 2015, for $35,650, fob. the place of manufacture. Freight to the point where it was set up was $230, and $575 was expended to install it. The machine's useful life was estimated at 10 years, with a salvage value of $2,875. On June 1, 2016, an essential part of the machine is replaced, at a cost of $2,277, with one designed to reduce the...
In 1993, Splish Company completed the construction of a building at a cost of $2,480,000 and first occupied it in January 1994. It was estimated that the building will have a useful life of 40 years and a salvage value of $75,200 at the end of that time. Early in 2004, an addition to the building was constructed at a cost of $620,000. At that time, it was estimated that the remaining life of the building would be, as originally...
On January 1, 2018, a machine was purchased for $120,000. The
machine has an estimated salvage value of $9,600 and an estimated
useful life of 5 years. The machine can operate for 120,000 hours
before it needs to be replaced. The company closed its books on
December 31 and operates the machine as follows: 2018, 24,000 hrs;
2019, 30,000 hrs; 2020, 18,000 hrs; 2021, 36,000 hrs; and 2022,
12,000 hrs.
Compute the annual depreciation charges over the machine’s life
assuming...
On June 1, a machine costing $660,000 with a 5-year life and an
estimated $50,000 salvage value was purchased. It was also
estimated that the machine would produce 200,000 units during its
life. Actual production would be 40,000 units per year for all five
years.
Using the depreciation template provided, determine the amount
of depreciation expense for the third year under each of the
following assumption
The company uses the double-declining-balance method of
depreciation.
50 Cast Salvage value Depreciable cost...
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