Cost of new car wash machines | 200000 | |||||||||||
Estimated residual value | 20000 | |||||||||||
Machine life in years | 6 | years | ||||||||||
Machine life in hours | 10000 | hours | ||||||||||
Year | Hours used | |||||||||||
1 | 2000 | |||||||||||
2 | 2000 | |||||||||||
3 | 1500 | |||||||||||
4 | 1800 | |||||||||||
5 | 1300 | |||||||||||
6 | 1400 | |||||||||||
Straight line method | ||||||||||||
Year | Depreciable cost | x | Depreciation rate | = | Depreciation expense | Accumulated Depreciation | Book Value | |||||
1 | $200,000.00 | 15.00% | $30,000.00 | $30,000.00 | $170,000.00 | Depreciation= | (Purchase price-residual value)/useful life | |||||
2 | $170,000.00 | 15.00% | $30,000.00 | $60,000.00 | $140,000.00 | (200,000-20,000)/6 | ||||||
3 | $140,000.00 | 15.00% | $30,000.00 | $90,000.00 | $110,000.00 | $30,000 | ||||||
4 | $110,000.00 | 15.00% | $30,000.00 | $120,000.00 | $80,000.00 | Depreciation rate= | Depreciation/Cost*100 | |||||
5 | $80,000.00 | 15.00% | $30,000.00 | $150,000.00 | $50,000.00 | (30,000/200,000)*100 | ||||||
6 | $50,000.00 | 15.00% | $30,000.00 | $180,000.00 | $20,000.00 | 15.00% | ||||||
Double declining method | ||||||||||||
Year | Beginning book value | x | Depreciation rate | = | Depreciation expense | Accumulated depreciation | Book value | |||||
1 | $200,000 | 33.33% | $66,667 | $66,667 | $133,333 | |||||||
2 | $133,333 | 33.33% | $44,444 | $111,111 | $88,889 | |||||||
3 | $88,889 | 33.33% | $29,630 | $140,741 | $59,259 | |||||||
4 | $59,259 | 33.33% | $19,753 | $160,494 | $39,506 | |||||||
5 | $39,506 | 33.33% | $13,169 | $173,663 | $26,337 | |||||||
6 | $26,337 | 24.06% | $6,337 | $180,000 | $20,000 | |||||||
Depreciation rate as per double declinning method | 1/useful life *100*2 | |||||||||||
1/6*100*2 | ||||||||||||
33.33% | ||||||||||||
Depreciation rate as per unit of production= | (Purchase price-residual value)/expected units | |||||||||||
(200,000-20,000)/10,000 | ||||||||||||
$18.00 | ||||||||||||
Year | Hours used | x | Depreciation rate | = | Depreciation expense | Accumulated Depreciation | Book value | |||||
1 | 2000 | $18 | $36,000 | $36,000 | $164,000 | |||||||
2 | 2000 | $18 | $36,000 | $72,000 | $128,000 | |||||||
3 | 1500 | $18 | $27,000 | $99,000 | $101,000 | |||||||
4 | 1800 | $18 | $32,400 | $131,400 | $68,600 | |||||||
5 | 1300 | $18 | $23,400 | $154,800 | $45,200 | |||||||
6 | 1400 | $18 | $25,200 | $180,000 | $20,000 |
Paste the above solution in excel in the cell B2 to gate same referencing.
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