Given,
Cost of Sound Equipment = $66,600
Salvage value =$2,000
Depreciation per concert = Cost -Salvage value/Total units of production (no of concerts)
=($66,600-$2000)/200
= $323 per concert
Concerts in 2018 = 55
Depreciation in 2018 = $323*55 = $17,765.
Depreciation per concert | $323 |
Concerts in 2018 | 55 |
Depreciation in 2018 | $17,765 |
what would the formula for this be also? Search Help Save & Exit Submit On January...
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...
Check my work View previous attempt Required information Use the following information for the Quick Studies below. [The following information applies to the questions displayed below.] Part 2 of 2 3.44 points On January 2, 2018, the Matthews Band acquires sound equipment for concert performances at a cost of $65,200. The band estimates it will use this equipment for five years, during which time it anticipates performing about 200 concerts. It estimates that after four years it can sell the...
Required information Use the following information for the Quick Studies below. The following information applies to the questions displayed below. On January 2, 2018, the Matthews Band acquires sound equipment for concert performances at a cost of $69.000. The band estimates it will use this equipment for five years, during which time it anticipates performing about 200 concerts. It estimates that after four years it can sell the equipment for $2.000. During year 2018, the band performs 55 concerts. QS...
On January 2, 2017, the Matthews Band acquires sound equipment for concert performances at a cost of $67,600. The band estimates it will use this equipment for four 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 2017, the band performs 45 concerts Compute the year 2017 depreciation using the straight-line method. Straight-Line Depreciation Choose Numerator Choose Denominator Annual Depreciation Expense Depreciation expense
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Use the following information for the Quick Studies below. [The following information applies to the questions displayed below.] On January 2, 2018, the Matthews Band acquires sound equipment for concert performances at a cost of $66,000. The band estimates it will use this equipment for four 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 2018, the band performs 45 concerts. QS 8-4 Units-of-production...
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