Answer
---Machine #1
A |
Cost |
$ 123,000.00 |
B |
Residual Value |
$ 23,000.00 |
C=A - B |
Depreciable base |
$ 100,000.00 |
D |
Life [in years] |
10 |
E=C/D |
Annual SLM depreciation each year |
$ 10,000.00 |
---Machine #2
A |
Cost |
$ 92,500.00 |
B |
Residual Value |
$ 11,400.00 |
C=A - B |
Depreciable base |
$ 81,100.00 |
D |
Life [in years] |
5 |
E=C/D |
Annual SLM depreciation |
$ 16,220.00 |
F=E/C |
SLM Rate |
20.00% |
G=F x 2 |
DDB Rate |
40.00% |
Year |
Beginning Book Value |
Depreciation rate |
Depreciation expense |
Ending Book Value |
2016 [6 months] |
$ 92,500.00 |
40.00% |
$ 18,500.00 [92500 x 40% x 6/12] |
$ 74,000.00 |
2017 |
$ 74,000.00 |
40.00% |
$ 29,600.00 |
$ 44,400.00 |
2018 |
$ 44,400.00 |
40.00% |
$ 17,760.00 |
$ 26,640.00 |
---Machine #3
A |
Cost |
$ 75,700.00 |
B |
Residual Value |
$ 6,700.00 |
C=A - B |
Depreciable base |
$ 69,000.00 |
D |
Usage |
34,500 machine hours |
E = C/D |
Depreciation per machine hours |
$ 2.00 |
Machine #1 |
Machine #2 |
Machine #3 |
|
Accumulated Depreciation at Dec 31 2018 |
$ 10,000 |
$ 17,760 |
$ 15,800 |
Workings |
[See Working for machine #1] |
[See working for machine #2] |
[7900 machine hours x $ 2 per machine hour] |
Problem 9-8A (Part Level Submission) In recent years, Wildhorse Co. has purchased three machines. Because of...
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In recent years, Crane Company has purchased three machines.
Because of frequent employee turnover in the accounting department,
a different accountant was in charge of selecting the depreciation
method for each machine, and various methods have been used.
Information concerning the machines is summarized in the table
below.
Machine
Acquired
Cost
Salvage
Value
Useful Life
(in years)
Depreciation
Method
1
Jan. 1, 2015
$130,500
$30,500
10
Straight-line
2
July 1, 2016
88,000
10,100
5
Declining-balance
3
Nov. 1, 2016
76,100...
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Please Show all work for part B :)
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part B
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