Homework Answers
Under DDB method, Depreciation rate = straight-line method rate * 2
Straight-line Depreciation rate = 100% / useful life = 100% / 10 years = 10%
Depreciation rate under DDB = 10% * 2 = 20%
Now,
| Year | Opening Balance | Depreciation @ 20% | Ending Balance |
| 1 | $59,200 | $11,840 | $47,360 |
| 2 | $47,360 | $9472 | $37,888 |
| 3 | $37,888 | $7,577.6 | $30,310.4 |
| 4 | $30,310.4 | $6,062.08 | $24,248.32 |
| 5 | $24,248.32 | $4,849.66 | $19,398.66 |
| 6 | $19,398.66 | $3,879.73 | $15,518.93 |
| 7 | $15,518.93 | $1518.93 | $14,000 |
Under DDB method, depreciation is calculated till the salvage value of an asset, therefore, depreciation for the 7th year is $1518.93.
Add Answer to:
using excel show the formulas
0/1 pts Question 2 "Compute the depreciation each year of a...
"Compute the depreciation each year of a machine that costs $68,000 to purchase and $3,100 to...
"Compute the depreciation each year of a machine that costs $68,000 to purchase and $3,100 to install with 10 years of life. Use DDB method (multiplier = 2) switching to straight line depreciation when appropriate. Assume a salvage value of $0. How much should be depreciated in year 8?"
using excel show the formulas Question 5 0/1 pts "You purchased a commercial building and lot...
using excel show the formulas
Question 5 0/1 pts "You purchased a commercial building and lot for $500,000 on December 15th of 2011. The lot itself was valued at $160,000 when purchased. You sold the lot and building on July 15th of 2018. Use MACRS depreciation and note this property is non-residential real property (39 year life). What is your allowable taxable depreciation amount for year 2018?" ered 8,717.6 swers 4,722 (with margin: 47)
Compute depreciation for each year (and total depreciation of all years combined) for the machine under...
Compute depreciation for each year (and total depreciation of
all years combined) for the machine under each depreciation
method.
A machine costing $212,600 with a four-year life and an estimated $17,000 salvage value is installed in Luther Company's factory on January 1. The factory manager estimates the machine will produce 489,000 units of product during its life. It actually produces the following units: 122,800 in Year 1, 122,900 in Year 2, 120,500 in Year 3, 132,800 in Year 4. The...
What is the depreciation for the following years, please include the excel formulas. Thank You The...
What is the depreciation for the following years, please
include the excel formulas. Thank You
The office space Janelle plans to rent is unfurnished. She plans to purchase $15,000 worth of furniture and fixtures at the beginning of Year 1. The furniture and fixtures will have a useful life of 15 years. Janelle will also need to buy some computers and other office equipment that she will purchase for $10,000 also at the beginning of Year 1. The office equipment...
Problem 8-2A Depreciation methods LO P1 A machine costing $215,200 with a four-year life and an...
Problem 8-2A Depreciation methods LO P1 A machine costing $215,200 with a four-year life and an estimated $18,000 salvage value is installed in Luther Company's factory on January 1. The factory manager estimates the machine will produce 493,000 units of product during its life. It actually produces the following units: 121,800 in 1st year, 123,200 in 2nd year, 120,600 in 3rd year, 137,400 in 4th year. The total number of units produced by the end of year 4 exceeds the...
Problem 10-2A Depreciation methods LO P1 A machine costing $211,200 with a four-year life and an...
Problem 10-2A Depreciation methods LO P1 A machine costing $211,200 with a four-year life and an estimated $16,000 salvage value is installed in Luther Company's factory on January 1. The factory manager estimates the machine will produce 488,000 units of product during its life. It actually produces the following units: 122,200 in 1st year, 122,700 in 2nd year, 121,200 in 3rd year, 131,900 in 4th year. The total number of units produced by the end of year 4 exceeds the...
Problem 10-2A Depreciation methods LO P1 A machine costing $209,800 with a four-year life and an...
Problem 10-2A Depreciation methods LO P1 A machine costing $209,800 with a four-year life and an estimated $19,000 salvage value is installed in Luther Company's factory on January 1. The factory manager estimates the machine will produce 477,000 units of product during its life. It actually produces the following units: 121,800 in 1st year, 122,700 in 2nd year, 119,800 in 3rd year, 122,700 in 4th year. The total number of units produced by the end of year 4 exceeds the...
Hello, I need a help with the following question. Compute Double Declining Balance Depreciation. The company...
Hello, I need a help with the following question. Compute Double Declining Balance Depreciation. The company reported: The machine costs $75,000, and its estimated useful life is 5 years, after which the expected salvage value is $5,000. Compute depreciation expense and accumulated depreciation for each year using double declining balance. I calculated myself for the 5 years, but the 5th year number is larger than the salvage value. So please, show how you calculate DDB for the 5 years. To...
Problem 10-2A Depreciation methods LO P1 A machine costing $214,200 with a four-year life and an...
Problem 10-2A Depreciation methods LO P1 A machine costing $214,200 with a four-year life and an estimated $19.000 salvage value is installed in Luther Company's factory on January 1. The factory manager estimates the machine will produce 488,000 units of product during its life. It actually produces the following units: 122,700 in 1st year, 122,600 in 2nd year, 121,500 in 3rd year, 131,200 in 4th year. The total number of units produced by the end of year 4 exceeds the...
help I'm stuck! Problem 10-2A Depreciation methods LO P1 A machine costing $208,800 with a four-year...
help I'm stuck!
Problem 10-2A Depreciation methods LO P1 A machine costing $208,800 with a four-year life and an estimated $18,000 salvage value is installed in Luther Company's factory on January 1. The factory manager estimates the machine will produce 477,000 units of product during its life. It actually produces the following units: 122,400 in 1st year, 124,100 in 2nd year, 120,400 in 3rd year, 120,100 in 4th year. The total number of units produced by the end of year...
using excel show the formulas
Question 5 0/1 pts "You purchased a commercial building and lot for $500,000 on December 15th of 2011. The lot itself was valued at $160,000 when purchased. You sold the lot and building on July 15th of 2018. Use MACRS depreciation and note this property is non-residential real property (39 year life). What is your allowable taxable depreciation amount for year 2018?" ered 8,717.6 swers 4,722 (with margin: 47)
Compute depreciation for each year (and total depreciation of
all years combined) for the machine under each depreciation
method.
A machine costing $212,600 with a four-year life and an estimated $17,000 salvage value is installed in Luther Company's factory on January 1. The factory manager estimates the machine will produce 489,000 units of product during its life. It actually produces the following units: 122,800 in Year 1, 122,900 in Year 2, 120,500 in Year 3, 132,800 in Year 4. The...
What is the depreciation for the following years, please
include the excel formulas. Thank You
The office space Janelle plans to rent is unfurnished. She plans to purchase $15,000 worth of furniture and fixtures at the beginning of Year 1. The furniture and fixtures will have a useful life of 15 years. Janelle will also need to buy some computers and other office equipment that she will purchase for $10,000 also at the beginning of Year 1. The office equipment...
Problem 8-2A Depreciation methods LO P1 A machine costing $215,200 with a four-year life and an estimated $18,000 salvage value is installed in Luther Company's factory on January 1. The factory manager estimates the machine will produce 493,000 units of product during its life. It actually produces the following units: 121,800 in 1st year, 123,200 in 2nd year, 120,600 in 3rd year, 137,400 in 4th year. The total number of units produced by the end of year 4 exceeds the...
Problem 10-2A Depreciation methods LO P1 A machine costing $211,200 with a four-year life and an estimated $16,000 salvage value is installed in Luther Company's factory on January 1. The factory manager estimates the machine will produce 488,000 units of product during its life. It actually produces the following units: 122,200 in 1st year, 122,700 in 2nd year, 121,200 in 3rd year, 131,900 in 4th year. The total number of units produced by the end of year 4 exceeds the...
Problem 10-2A Depreciation methods LO P1 A machine costing $209,800 with a four-year life and an estimated $19,000 salvage value is installed in Luther Company's factory on January 1. The factory manager estimates the machine will produce 477,000 units of product during its life. It actually produces the following units: 121,800 in 1st year, 122,700 in 2nd year, 119,800 in 3rd year, 122,700 in 4th year. The total number of units produced by the end of year 4 exceeds the...
Problem 10-2A Depreciation methods LO P1 A machine costing $214,200 with a four-year life and an estimated $19.000 salvage value is installed in Luther Company's factory on January 1. The factory manager estimates the machine will produce 488,000 units of product during its life. It actually produces the following units: 122,700 in 1st year, 122,600 in 2nd year, 121,500 in 3rd year, 131,200 in 4th year. The total number of units produced by the end of year 4 exceeds the...
help I'm stuck!
Problem 10-2A Depreciation methods LO P1 A machine costing $208,800 with a four-year life and an estimated $18,000 salvage value is installed in Luther Company's factory on January 1. The factory manager estimates the machine will produce 477,000 units of product during its life. It actually produces the following units: 122,400 in 1st year, 124,100 in 2nd year, 120,400 in 3rd year, 120,100 in 4th year. The total number of units produced by the end of year...
Most questions answered within 3 hours.
-
Which of the following statements is true regarding the nature
of culture?
A.We are born with...
asked 2 minutes ago -
(a) 2
NO2(g) à 2
NO(g) +
O2(g)
The rate law for this reaction
is 2nd...
asked 5 minutes ago -
Write the overall reaction for the RedOx
reaction (below) when it occurs in an acidic environment....
asked 12 minutes ago -
Two forces are acting on an object. Force 1 on the object is 6.0
N and...
asked 13 minutes ago -
You are planning for retirement. You plan to work for 20 years.
Starting a year from...
asked 26 minutes ago -
The African Adventures exhibit water system holds approximately
850,000 gallons (3.2x109 g) of water. The temperature...
asked 18 minutes ago -
which of the following is capital?
the barn a farmer uses to hold the chickens he...
asked 28 minutes ago -
Attribute
Sample Value
Sample Value
Sample Value
Sample Value
pirate_num
11
22
43
54
pirate_lname
James...
asked 21 minutes ago -
10. Two forces act on a 3 kg object, the gravitational force and
a second, constant...
asked 38 minutes ago -
Dividing Partnership Net Loss
Leigh Meadows and Byron Leef formed a partnership in which the
partnership...
asked 35 minutes ago -
Discuss how Entrepreneurial leadership style differs
from traditional leadership?
asked 1 hour ago -
A futuristic design for a car is to have a large solid
disk-shaped flywheel within the...
asked 59 minutes ago