A. | Cost of machine | 237,000 |
B. | Residual value | 28,500 |
C. | Depriciable value (A-B) | 208,500 |
D. | Depriciation rate per hour | 16.68 |
E. | As per doubble declining rate | 33.36 |
UNIVERSITY CAR WASH | |||
Depriciation Schedule - Doubble declining balance | |||
End of year ammounts | |||
Year | Depriciation expense | Accumulated Derpriciation | Book Value |
1 | 90,072.00 | 90,072.00 | 146,928.00 |
2 | 66,720.00 | 156,792.00 | 80,208.00 |
3 | 51,708.00 | 208,500.00 | 28,500.00 |
4 | - | - | - |
5 | - | - | - |
6 | - | - | - |
University Car Wash built a deluxe car wash across the street from campus. The new machines...
University Car Wash built a deluxe car wash across the street from campus. The new machines cost $237,000 including installation. The company estimates that the equipment will have a residual value of $28,500. University Car Wash also estimates it will use the machine for six years or about 12,500 total hours. Actual use per year was as follows: Year 1 2 3 4 5 6 Hours Used 2,700 2,000 2,100 1,900 1,700 2,100 Required: 1. Prepare a depreciation schedule for...
University Car Wash built a deluxe car wash across the street from campus. The new machines cost $237,000 including installation. The company estimates that the equipment will have a residual value of $28,500. University Car Wash also estimates it will use the machine for six years or about 12,500 total hours. Actual use per year was as follows: Year 2 2 3 4 5 6 Hours Used 2,700 2,000 2,100 1,900 1,700 2,100 3. Prepare a depreciation schedule for six...
Required information The following information applies to the questions displayed below) University Car Wash built a deluxe car wash across the street from campus. The new machines cost $237,000 including Installation. The company estimates that the equipment will have a residual value of $28,500. University Car Wash also estimates it will use the machine for six years or about 12,500 total hours. Actual use per year was as follows: WN Hours Used 2,700 2,000 2,100 1,900 1,700 2,100 repare a...
University Car Wash built a deluxe car wash across the street from campus. The new machines cost $246,000 including installation. The company estimates that the equipment will have a residual value of $27,000. University Car Wash also estimates it will use the machine for six years or about 12,000 total hours. Actual use per year was as follows: Year Hours Used 1 2,800 2 1,900 3 2,000 4 2,000 5 1,800 6 1,500 3. Prepare a depreciation schedule for six...
University Car Wash built a deluxe car wash across the street from campus. The new machines cost $234,000 including installation. The company estimates that the equipment will have a residual value of $27,000. University Car Wash also estimates it will use the machine for six years or about 12,000 total hours. Actual use per year was as follows: Year Hours Used 1 2,800 2 1,900 3 2,000 4 2,000 5 1,800 6 1,500 Required: 1. Prepare a depreciation schedule for...
University Car Wash built a deluxe car wash across the street from campus. The new machines cost $246,000 including installation. The company estimates that the equipment will have a residual value of $27,000. University Car Wash also estimates it will use the machine for six years or about 12,000 total hours. Actual use per year was as follows: Year Hours Used 1 2,800 2 1,900 3 2,000 4 2,000 5 1,800 6 1,500 2. Prepare a depreciation schedule for six...
University Car Wash built a deluxe car wash across the street from campus. The new machines cost $264,000 including installation. The company estimates that the equipment will have a residual value of $25,500. University Car Wash also estimates it will use the machine for six years or about 12,500 total hours. Actual use per year was as follows: Year Hours Used 1 2,900 2 1,300 3 1,400 4 2,600 5 2,400 6 1,900 I need help preparing the depreciation schedule...
University Car Wash built a deluxe car wash across the street from campus. The new machines cost $246,000 including installation. The company estimates that the equipment will have a residual value of $27,000. University Car Wash also estimates it will use the machine for six years or about 12,000 total hours. Actual use per year was as follows: Year Hours Used 1 2,800 2 1,900 3 2,000 4 2,000 5 1,800 6 1,500 3. Prepare a depreciation schedule for six...
[The following information applies to the questions displayed below.] University Car Wash built a deluxe car wash across the street from campus. The new machines cost $267,000 including installation. The company estimates that the equipment will have a residual value of $24,000. University Car Wash also estimates it will use the machine for six years or about 12,000 total hours. Actual use per year was as follows: Year Hours Used 3,000 1,200 1,300 2,700 2,500 1,300 6 N m LO...
Required information [The following information applies to the questions displayed below.) University Car Wash built a deluxe car wash across the street from campus. The new machines cost $270,000 including installation. The company estimates that the equipment will have a residual value of $24,000. University Car Wash also estimates it will use the machine for six years or about 12,000 total hours. Actual use per year was as follows: Year ол Фш ме Hours Used 3,100 1,100 1,200 2,800 2,600...