Homework Answers
1) Calculate depreciation and book value : Double decline balance
| 2018 | 2019 | |
| Depreciation | 33800*20% = 6760 | 27040*20% = 5408 |
| Book values | 33800*80% = 27040 | 27040*80% = 21632 |
2) Calculate depreciation and book value : Sum of the year digit
| 2018 | 2019 | |
| Depreciation | (33800-5800)*10*55 = 5091 | 4582 |
| Book values | 28709 | 24127 |
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[The following information applies to the questions displayed below. On January 1, 2018, Hobart Mfg. Co....
9. On January 1, 2018, Hobart Mfg. Co. purchased a drill press at a cost of...
9. On January 1, 2018, Hobart Mfg. Co. purchased a drill press
at a cost of $33,600. The drill press is expected to last 10 years
and has a residual value of $6,400. During its 10-year life, the
equipment is expected to produce 500,000 units of product. In 2018
and 2019, 27,000 and 88,000 units, respectively, were produced.
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Use the following information for the Exercises below. [The following information applies to the questions displayed...
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Required information [The following information applies to the questions displayed below.) On April 1, Cyclone's Co. purchases a trencher for $282,000. The machine is expected to last five years and have a salvage value of $41,000. Compute depreciation expense at December 31 for the first and second year assuming the company uses the straight-line method. Choose Numerator: 1 Choose Denominator: Annual Depreciation Annual depreciation Year Annual Depreciation x Fraction of Year Depreciation Expense First year Second year
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9. On January 1, 2018, Hobart Mfg. Co. purchased a drill press
at a cost of $33,600. The drill press is expected to last 10 years
and has a residual value of $6,400. During its 10-year life, the
equipment is expected to produce 500,000 units of product. In 2018
and 2019, 27,000 and 88,000 units, respectively, were produced.
Required information The following information applies to the questions displayed below.] On January 1, 2018, Hobart Mfg. Co. purchased a drill press...
Required information [The following information applies to the questions displayed below.] On April 1, Cyclone's Co. purchases a trencher for $304,000. The machine is expected to last five years and have a salvage value of $52,000. Compute depreciation expense at December 31 for both the first year and second year assuming the company uses the double- declining-balance method. (Enter all amounts as positive values.) Depreciation for the Period End of Period begind Book Depreciation Rate Partial Depreciation Annual Period Depreciation...
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Required information (The following information applies to the questions displayed below.) In early January 2017, NewTech purchases computer equipment for $262.000 to use in operating activities for the next four years. It estimates the equipment's salvage value at $21,000. Prepare a table showing depreciation and book value for each of the four years assuming double-declining balance depreciation. (Enter all amounts positive values.) Depreciation for the Period End of Period Year Beginning-Year Book Value Depreciation Rate Annual Depreciation Accumulated Depreciation Year-End...
Required information [The following information applies to the questions displayed below. In early January 2017, NewTech purchases computer equipment for $257,000 to use in operating activities for the next four years. It estimates the equipment's salvage value at $24,000. Prepare a table showing depreciation and book value for each of the four years assuming double-declining-balance depreciation. (Enter all amounts positive values.) Depreciation for the Period End of Period Annual Beginning-Year Depreciation Book Value Accumulated Year-End Year Depreciation Rate Depreciation Book...
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Required information [The following information applies to the questions displayed below.) On April 1, Cyclone's Co. purchases a trencher for $282,000. The machine is expected to last five years and have a salvage value of $41,000. Compute depreciation expense at December 31 for the first and second year assuming the company uses the straight-line method. Choose Numerator: 1 Choose Denominator: Annual Depreciation Annual depreciation Year Annual Depreciation x Fraction of Year Depreciation Expense First year Second year
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Required information [The following information applies to the questions displayed below.) In early January 2017, NewTech purchases computer equipment for $262,000 to use in operating activities for the next four years. It estimates the equipment's salvage value at $21,000. Prepare a table showing depreciation and book value for each of the four years assuming straight-line depreciation. Straight-Line Depreciation Choose Numerator: Choose Denominator: Annual Depreciation Expense - Depreciation expense Year 2017 Annual Depreciation Year-End Book Value 2018 2019 2020 Total $
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