Homework Answers
| Total Cost | $ 12,00,000.00 |
| Less: Estimated Salvage Value | $ 1,80,000.00 |
| Remaining cost to be depreciated | $ 10,20,000.00 |
| Years of life | 8 years |
| Total Depreciation for year 1 -2016 | $ 1,27,500.00 |
| Accumulated depreciation after 5th year (127500*5) | $ 6,37,500.00 |
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c. Cash Flows To machine that cost ght years, and its esti. Exercise 6.13 Depreciation calculation...
Millco Inc., acquired a machine that cost $496,000 early in 2019. The machine is expected to...
Millco Inc., acquired a machine that cost $496,000 early in 2019. The machine is expected to last for eighth years, and its estimated salvage value at the end of its life is $70,000. Required: a. Using straight-line depreciation, calculate the depreciation expense to be recognized in the first year of the machine's life and calculate the accumulated depreciation after the fifth year of the machine's life. Depreciation expense | Accumulated depreciation b. Using declining-balance depreciation at twice the straight-line rate,...
Millco Inc., acquired a machine that cost $430,000 early in 2019. The machine is expected to...
Millco Inc., acquired a machine that cost $430,000 early in 2019. The machine is expected to last for tenth years, and its estimated salvage value at the end of its life is $63,000. Required: a. Using straight-line depreciation, calculate the depreciation expense to be recognized in the first year of the machine's life and calculate the accumulated depreciation after the fifth year of the machine's life. Depreciation expense Accumulated depreciation $ $ 36,700 183,500 b. Using declining-balance depreciation at twice...
Depreciation Methods On January 2, 2015, Roth, Inc. purchased a laser cutting machine to be used...
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2 E9-3B. Depreciation Methods A machine costing $180,000 was purchased May 1. The machine should be...
2 E9-3B. Depreciation Methods A machine costing $180,000 was purchased May 1. The machine should be obsolete after four years and, therefore, no longer useful to the company. The estimated salvage value is $15,000. Calculate the depreciation expense for each year of its expected useful life using each of the following depreciation methods: (a) straight-line, (b) double-declining balance.
Problem 9-17 Partial year's depreciation; alternative methods: exchange/disposal of PPE LO2,3,6 CHECK FIGURES: 1. Machine 6640...
Problem 9-17 Partial year's depreciation; alternative methods: exchange/disposal of PPE LO2,3,6 CHECK FIGURES: 1. Machine 6640 - $10,800: Machine 6691 - $8,325: Machine 6711 = $7.155 Videotron Ltée completed the following transactions involving printing equipment. Machine 6600 was purchased for cash on May 1, 2017, at an installed cost of $72,900. Its useful life was estimated to be four years with an $8,100 trade-in value Straight-line depreciation was recorded for the machine at the end of 2017 and 2018 On...
Depreciation Methods Assignment Problem 1 On August 31, 2014, a company acquired and placed in service...
Depreciation Methods Assignment Problem 1 On August 31, 2014, a company acquired and placed in service a machine at a cost of $60,000. It is estimated that the machine has a useful life of four years or 100,000 units of production. Salvage value is estimated to be $5,000. The company year-end is December 31. Using Excel, prepare depreciation schedules similar to the depreciation lecture and the Laulima Lesson examples showing columns for: year-ended; annual depreciation amounts; accumulated depreciation; and remaining...
Exercise 8-5 Units-of-production depreciation LO P1 Ramirez Company installs a computerized manufacturing machine in its factory...
Exercise 8-5 Units-of-production depreciation LO P1 Ramirez Company installs a computerized manufacturing machine in its factory at the beginning of the year at a cost of $52,500. The machine's useful life is estimated at 5 years, or 415,000 units of product, with a $11,000 salvage value. During its second year, the machine produces 41,500 units of product. Determine the machine's second-year depreciation using the units-of-production method. Units-of-production Depreciation Choose Denominator: = Choose Numerator: Annual Depreciation Expense Depreciation expense per unit...
Exercise 8-4 Straight-line depreciation LO P1 Ramirez Company installs a computerized manufacturing machine in its factory...
Exercise 8-4 Straight-line depreciation LO P1 Ramirez Company installs a computerized manufacturing machine in its factory at the beginning of the year at a cost of $114,000. The machine's useful life is estimated at 10 years, or 312,000 units of product, with a $16,200 salvage value. During its second year, the machine produces 29,900 units of product Determine the machine's second-year depreciation and year end book value under the straight-line method. Straight-Line Depreciation Annual Depreciation Expense Choose Numerator: / Choose...
(20 Points) A machine costs 40,000. Its life for depreciation purposes is estimated at 10 years...
(20 Points) A machine costs 40,000. Its life for depreciation purposes is estimated at 10 years and its terminal book value is assumed to be 4000. Determine the Book value at the end of fifth year using 6. Straight line depreciation Double declining balance method a. b.
Rayya Co. purchases and installs a machine on January 1, 2017, at a total cost of...
Rayya Co. purchases and installs a machine on January 1, 2017, at a total cost of $134,400. Straight-line depreciation is taken each year for four years assuming a eight-year life and no salvage value. The machine is disposed of on July 1, 2021, during its fifth year of service. Prepare entries to record the partial year's depreciation on July 1, 2021, and to record the disposal under the following separate assumptions: (1) The machine is sold for $67,200 cash. (2)...
Millco Inc., acquired a machine that cost $496,000 early in 2019. The machine is expected to last for eighth years, and its estimated salvage value at the end of its life is $70,000. Required: a. Using straight-line depreciation, calculate the depreciation expense to be recognized in the first year of the machine's life and calculate the accumulated depreciation after the fifth year of the machine's life. Depreciation expense | Accumulated depreciation b. Using declining-balance depreciation at twice the straight-line rate,...
Millco Inc., acquired a machine that cost $430,000 early in 2019. The machine is expected to last for tenth years, and its estimated salvage value at the end of its life is $63,000. Required: a. Using straight-line depreciation, calculate the depreciation expense to be recognized in the first year of the machine's life and calculate the accumulated depreciation after the fifth year of the machine's life. Depreciation expense Accumulated depreciation $ $ 36,700 183,500 b. Using declining-balance depreciation at twice...
Depreciation Methods On January 2, 2015, Roth, Inc. purchased a laser cutting machine to be used in the fabrication of a part for one of its key products. The machine cost $125,000, and its estimated useful life was four years or 1,200,000 cuttings, after which it could be sold for $5,000. Required a. Calculate each year's depreciation expense for the machine's useful life under each of the following depreciation methods (round all answers to the nearest dollar): 1. Straight-line. 2....
2 E9-3B. Depreciation Methods A machine costing $180,000 was purchased May 1. The machine should be obsolete after four years and, therefore, no longer useful to the company. The estimated salvage value is $15,000. Calculate the depreciation expense for each year of its expected useful life using each of the following depreciation methods: (a) straight-line, (b) double-declining balance.
Problem 9-17 Partial year's depreciation; alternative methods: exchange/disposal of PPE LO2,3,6 CHECK FIGURES: 1. Machine 6640 - $10,800: Machine 6691 - $8,325: Machine 6711 = $7.155 Videotron Ltée completed the following transactions involving printing equipment. Machine 6600 was purchased for cash on May 1, 2017, at an installed cost of $72,900. Its useful life was estimated to be four years with an $8,100 trade-in value Straight-line depreciation was recorded for the machine at the end of 2017 and 2018 On...
Depreciation Methods Assignment Problem 1 On August 31, 2014, a company acquired and placed in service a machine at a cost of $60,000. It is estimated that the machine has a useful life of four years or 100,000 units of production. Salvage value is estimated to be $5,000. The company year-end is December 31. Using Excel, prepare depreciation schedules similar to the depreciation lecture and the Laulima Lesson examples showing columns for: year-ended; annual depreciation amounts; accumulated depreciation; and remaining...
Exercise 8-5 Units-of-production depreciation LO P1 Ramirez Company installs a computerized manufacturing machine in its factory at the beginning of the year at a cost of $52,500. The machine's useful life is estimated at 5 years, or 415,000 units of product, with a $11,000 salvage value. During its second year, the machine produces 41,500 units of product. Determine the machine's second-year depreciation using the units-of-production method. Units-of-production Depreciation Choose Denominator: = Choose Numerator: Annual Depreciation Expense Depreciation expense per unit...
Exercise 8-4 Straight-line depreciation LO P1 Ramirez Company installs a computerized manufacturing machine in its factory at the beginning of the year at a cost of $114,000. The machine's useful life is estimated at 10 years, or 312,000 units of product, with a $16,200 salvage value. During its second year, the machine produces 29,900 units of product Determine the machine's second-year depreciation and year end book value under the straight-line method. Straight-Line Depreciation Annual Depreciation Expense Choose Numerator: / Choose...
(20 Points) A machine costs 40,000. Its life for depreciation purposes is estimated at 10 years and its terminal book value is assumed to be 4000. Determine the Book value at the end of fifth year using 6. Straight line depreciation Double declining balance method a. b.
Rayya Co. purchases and installs a machine on January 1, 2017, at a total cost of $134,400. Straight-line depreciation is taken each year for four years assuming a eight-year life and no salvage value. The machine is disposed of on July 1, 2021, during its fifth year of service. Prepare entries to record the partial year's depreciation on July 1, 2021, and to record the disposal under the following separate assumptions: (1) The machine is sold for $67,200 cash. (2)...
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