PART B) Compute 2020 depreciation expense using the double-declining-balance method, assuming the machinery was purchased on...

Question

Question

Wildhorse Company purchased machinery on January 1, 2020, for $94,400. The machinery is estimated to have a salvage value of PART B) Compute 2020 depreciation expense using the double-declining-balance method, assuming the machinery was purchased on October 1, 2020.

business accounting

Add a comment Improve this question Transcribed image text

Answer 1

Answer #1

Double declining rate = 200/useful life = 200/8 = 25%

A)

Depreciation expense = 94,400*25%

= 23,600

B)

Depreciation expense = 94,400*25%*3/12

= 5900

Add a comment

Answer 2

Similar Homework Help Questions

Unit 2 11-4 Splish Company purchased machinery on January 1, 2017, for $96,800. The machinery is...

Unit 2 11-4 Splish Company purchased machinery on January 1, 2017, for $96,800. The machinery is estimated to have a salvage value of $9,680 after a useful life of 8 years. Compute 2017 depreciation expense using the double-declining-balance method. Depreciation expense $ Compute 2017 depreciation expense using the double-declining-balance method, assuming the machinery was purchased on October 1, 2017. (Round answer to 0 decimal places, e.g. 5,125.) Depreciation expense $
Novak Company purchased machinery on January 1, 2017, for $97,600. The machinery is estimated to have a salvage value of...

Novak Company purchased machinery on January 1, 2017, for $97,600. The machinery is estimated to have a salvage value of $9,760 after a useful life of 8 years. Compute 2017 depreciation expense using the double-declining-balance method. Depreciation expense $ LINK TO TEXT Compute 2017 depreciation expense using the double-declining-balance method, assuming the machinery was purchased on October 1, 2017. (Round answer to 0 decimal places, e.g. 5,125.) Depreciation expense $ Click if you would like to Show Work for this...
Depreciation Expense Using the Double-Declining Balance Method The Peete Company purchased an office building for $4,500,000....

Depreciation Expense Using the Double-Declining Balance Method The Peete Company purchased an office building for $4,500,000. The building had an estimated useful life of 25 years and an expected salvage value of $500,000. Calculate the depreciation expense for the second year using the double-declining balance method. $

3.Lockard Company purchased machinery on January 1, 2010 for 80,000. The machinery is estimated to have...

3.Lockard Company purchased machinery on January 1, 2010 for 80,000. The machinery is estimated to have a salvage value of $8,000 after a useful life of 8 years. A) Compute 2010 depreciation expense using the straight-line method. B) Compute 2010 depreciation using method assuming the machinery was purchased on September 1,2010. 4.Use the information for Lockard Company given in 3. A) Compute 2010 depreciation expense using the sum-of the years ‘-digits method. B) Compute 2010 depreciation expense using the sum-of-the-years’-digits...
Concord Company purchased machinery on January 1, 2020, for $84,000. The machinery is estimated to have a salvage value...

Concord Company purchased machinery on January 1, 2020, for $84,000. The machinery is estimated to have a salvage value of $8,400 after a useful life of 8 years. Compute 2020 depreciation expense using the straight-line method. Depreciation expense LINK TO TEXT Compute 2020 depreciation expense using the straight-line method assuming the machinery was purchased on September 1, 2020. Depreciation expense
Bramble Company purchased machinery on January 1, 2020, for $91,200. The machinery is estimated to have...

Bramble Company purchased machinery on January 1, 2020, for $91,200. The machinery is estimated to have a salvage value of $9,120 after a useful life of 8 years. Compute 2020 depreciation expense using the sum-of-the-years'-digits method. Depreciation expense $ LINK TO TEXT Compute 2020 depreciation expense using the sum-of-the-years'-digits method, assuming the machinery was purchased on April 1, 2020. (Round answer to 0 decimal places, e.g. 5,125.) Depreciation expense

POWS WILL Instructions: Using the sum-of-the-years'-digit and double-declining balance depreciation methods, compute the depreciation expense for...

POWS WILL Instructions: Using the sum-of-the-years'-digit and double-declining balance depreciation methods, compute the depreciation expense for years 2018 and 2019, and the book value of the machine at the end of 2019 for each of the following two independent cases. Please show your work briefly and have your final answers summarized in the tables, Round the final answers in the tables to the nearest dollar when needed. a. Ginger Co. acquired a machine on Jan. 1, 2018, at a cost...
Instructions: Using the sum-of-the-years-digit and double-declining balance depreciation methods, compute the depreciation expense for years 2018...

Instructions: Using the sum-of-the-years-digit and double-declining balance depreciation methods, compute the depreciation expense for years 2018 and 2019, and the book value of the machine at the end of 2019 for each of the following two independent cases. Please show your work briefly and have your final answers summarized in the tables Round the final answers in the tables to the nearest dollar when needed. a. Ginger Co. acquired a machine on Jan. 1. 2018, at a cost of $56,000....
Double Declining Balance Depreciation A small delivery truck was purchased on January 1 at a cost...

Double Declining Balance Depreciation A small delivery truck was purchased on January 1 at a cost of $25,000. It has an estimated useful life of four years and an estimated salvage value of $5,000. Prepare a depreciation schedule showing the depreciation expense, accumulated depreciation, and book value for each year under the Double Declining balance method Accum. depr. end of Yr. 2:$18,750

Question 1 Kingbird Company purchased machinery on January 1, 2020, for $96,800. The machinery is estimated...

Question 1 Kingbird Company purchased machinery on January 1, 2020, for $96,800. The machinery is estimated to have a salvage value of $9,680 after a useful life of 8 years. Compute 2020 depreciation expense using the sum-of-the-years'-digits method. Depreciation expenses LINK TO TEXT Compute 2020 depreciation expense using the sum-of-the-years-digits method, assuming the machinery was purchased on April 1, 2020. (Round answer to 0 decimal places, e.g. 5,125.) Depreciation expenses Click if you would like to Show Work for this...

PART B) Compute 2020 depreciation expense using the double-declining-balance method, assuming the machinery was purchased on...

Homework Answers

Add Answer to:
PART B) Compute 2020 depreciation expense using the double-declining-balance method, assuming the machinery was purchased on...

Post as a guest

Earn Coins

Unit 2 11-4 Splish Company purchased machinery on January 1, 2017, for $96,800. The machinery is...

Novak Company purchased machinery on January 1, 2017, for $97,600. The machinery is estimated to have a salvage value of...

Depreciation Expense Using the Double-Declining Balance Method The Peete Company purchased an office building for $4,500,000....

3.Lockard Company purchased machinery on January 1, 2010 for 80,000. The machinery is estimated to have...

Concord Company purchased machinery on January 1, 2020, for $84,000. The machinery is estimated to have a salvage value...

Bramble Company purchased machinery on January 1, 2020, for $91,200. The machinery is estimated to have...

POWS WILL Instructions: Using the sum-of-the-years'-digit and double-declining balance depreciation methods, compute the depreciation expense for...

Instructions: Using the sum-of-the-years-digit and double-declining balance depreciation methods, compute the depreciation expense for years 2018...

Double Declining Balance Depreciation A small delivery truck was purchased on January 1 at a cost...

Question 1 Kingbird Company purchased machinery on January 1, 2020, for $96,800. The machinery is estimated...

PART B) Compute 2020 depreciation expense using the double-declining-balance method, assuming the machinery was purchased on...

Homework Answers

Add Answer to: PART B) Compute 2020 depreciation expense using the double-declining-balance method, assuming the machinery was purchased on...

Post as a guest

Earn Coins

Add Answer to:
PART B) Compute 2020 depreciation expense using the double-declining-balance method, assuming the machinery was purchased on...