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A company purchased a machine for $193,000 on October 1, 2021. The estimated service life is...
On September 30, 2021, Bricker Enterprises purchased a machine for $212,000. The estimated service life is...
On September 30, 2021, Bricker Enterprises purchased a machine for $212,000. The estimated service life is 10 years with a $21,000 residual value. Bricker records partial-year depreciation based on the number of months in service. Depreciation (to the nearest dollar) for 2022, using sum-of-the-years'-digits method, would be: (Do not round intermediate calculations.) Multiple Choice $33,859. $31,282. $37,583. $56,700.
On September 30, 2021, Bricker Enterprises purchased a machine for $220,000. The estimated service life is...
On September 30, 2021, Bricker Enterprises purchased a machine for $220,000. The estimated service life is 10 years with a $26,000 residual value. Bricker records partial-year depreciation based on the number of months in service. Depreciation for 2021, using the double-declining-balance method, would be: (Do not round intermediate calculations.) Multiple Choice $44,000. $11,000. $38,800. $9,700.
On September 30, 2021, Bricker Enterprises purchased a machine for $200,000. The estimated service life is...
On September 30, 2021, Bricker Enterprises purchased a machine for $200,000. The estimated service life is 10 years with a $20,000 residual value. Bricker records partial-year depreciation based on the number of months in service. Depreciation for 2022, using the double-declining-balance method, would be: Multiple Choice $32,000. $34,000. $38,000. $40,000.
On September 30, 2021. Bricker Enterprises purchased a machine for $217,000. The estimated service life is...
On September 30, 2021. Bricker Enterprises purchased a machine for $217,000. The estimated service life is 10 years with a $29,000 residual value Bricker records partial-year depreciation based on the number of months in service. Depreciation to the nearest dollar) for 2022, using sum-of-the-years-digits method, would be: (Do not round intermediate calculations.)
On October 1, 2021, the Allegheny Corporation purchased equipment for $123,000. The estimated service life of...
On October 1, 2021, the Allegheny Corporation purchased equipment for $123,000. The estimated service life of the equipment is 10 years and the estimated residual value is $2,000. The equipment is expected to produce 220,000 units during its life. Required: Calculate depreciation for 2021 and 2022 using each of the following methods. Partial-year depreciation is calculated based on the number of months the asset is in service. 1. Straight line. Straight-Line Depreciation 1 Choose Denominator: Choose Numerator: Annual Depreciation =...
On October 1, 2021, the Allegheny Corporation purchased equipment for $157,000. The estimated service life of...
On October 1, 2021, the Allegheny Corporation purchased equipment for $157,000. The estimated service life of the equipment is 10 years and the estimated residual value is $3,000. The equipment is expected to produce 350,000 units during its life. Required: Calculate depreciation for 2021 and 2022 using each of the following methods. Partial-year depreciation is calculated based on the number of months the asset is in service 1. Straight line 2. Double-declining balance 3. Units of production (units produced in...
On October 1, 2021, the Allegheny Corporation purchased equipment for $314,000. The estimated service life of...
On October 1, 2021, the Allegheny Corporation purchased equipment for $314,000. The estimated service life of the equipment is 10 years and the estimated residual value is $6,000. The equipment is expected to produce 550,000 units during its life. Required: Calculate depreciation for 2021 and 2022 using each of the following methods. Partial-year depreciation is calculated based on the number of months the asset is in service. 3. Units of production (units produced in 2021, 28,000; units produced in 2022,...
On January 1, 2021, the Allegheny Corporation purchased equipment for $199,000. The estimated service life of...
On January 1, 2021, the Allegheny Corporation purchased equipment for $199,000. The estimated service life of the equipment is 10 years and the estimated residual value is $12,000. The equipment is expected to produce 248,000 units during its life. Required: Calculate depreciation for 2021 and 2022 using each of the following methods. 3. Assume instead the equipment was purchased on October 1, 2021. Calculate depreciation for 2021 and 2022 using each of the two methods. Partial-year depreciation is calculated based...
On October 1, 2021, the Allegheny Corporation purchased equipment for $314,000. The estimated service life of...
On October 1, 2021, the Allegheny Corporation purchased equipment for $314,000. The estimated service life of the equipment is 10 years and the estimated residual value is $6,000. The equipment is expected to produce 550,000 units during its life. Required: Calculate depreciation for 2021 and 2022 using each of the following methods. Partial-year depreciation is calculated based on the number of months the asset is in service. 2. Double-declining balance
On October 1, 2021, the Allegheny Corporation purchased equipment for $289,000. The estimated service life of...
On October 1, 2021, the Allegheny Corporation purchased equipment for $289,000. The estimated service life of the equipment is 10 years and the estimated residual value is $3,000. The equipment is expected to produce 520,000 units during its life. Required: Calculate depreciation for 2021 and 2022 using each of the following methods. Partial-year depreciation is calculated based on the number of months the asset is in service. exercise 11-3 (Algo) Part 1 Straight line. Straight-Line Depreciation 1 Choose Denominator: Choose...
On September 30, 2021. Bricker Enterprises purchased a machine for $217,000. The estimated service life is 10 years with a $29,000 residual value Bricker records partial-year depreciation based on the number of months in service. Depreciation to the nearest dollar) for 2022, using sum-of-the-years-digits method, would be: (Do not round intermediate calculations.)
On October 1, 2021, the Allegheny Corporation purchased equipment for $123,000. The estimated service life of the equipment is 10 years and the estimated residual value is $2,000. The equipment is expected to produce 220,000 units during its life. Required: Calculate depreciation for 2021 and 2022 using each of the following methods. Partial-year depreciation is calculated based on the number of months the asset is in service. 1. Straight line. Straight-Line Depreciation 1 Choose Denominator: Choose Numerator: Annual Depreciation =...
On October 1, 2021, the Allegheny Corporation purchased equipment for $289,000. The estimated service life of the equipment is 10 years and the estimated residual value is $3,000. The equipment is expected to produce 520,000 units during its life. Required: Calculate depreciation for 2021 and 2022 using each of the following methods. Partial-year depreciation is calculated based on the number of months the asset is in service. exercise 11-3 (Algo) Part 1 Straight line. Straight-Line Depreciation 1 Choose Denominator: Choose...
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