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![a. Straight Line method Depreciation (Cost - residual value]/expected useful life Depreciation = ($90000-$6000)/6 = $14000 $1](http://img.homeworklib.com/questions/68729f20-748f-11ea-b068-035e0aa56c00.png?x-oss-process=image/resize,w_560)
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8A-3. PLUM Corporation acquired a new computer early in January of Year 1 for $90,000. They...
8A-3. PLUM Corporation acquired a new computer early in January of Year 1 for $90,000. They...
8A-3. PLUM Corporation acquired a new computer early in January of Year 1 for $90,000. They expected the computer to have a six-year useful life and a residual value of $6,000. Required: Prepare tables showing the depreciation expense that would be recorded each year for the six-year useful life of the computer using: (a) straight-line; and (b) double-declining-balance. Chapter 8 Section A a. straight-line method: b. double-declining balance method:
On January 1, 2015, Swift Corporation, a small manufacturer of machine tools, acquired new indust...
On January 1, 2015, Swift Corporation, a small manufacturer of
machine tools, acquired new industrial equipment for $1,320,000.
The new equipment had a useful life of five years and the residual
value was estimated to be $60,000. Swift estimates that the new
equipment can produce 14,500 machine tools in its first year. It
estimates that production will decline by 1,000 units per year over
the equipment’s remaining useful life.
The following depreciation methods may be used: (1) straight-line,
(2) double-declining-balance,...
Depreciation by Two Methods A storage tank acquired at the beginning of the fiscal year at a cost of $90,000 has an...
Depreciation by Two Methods A storage tank acquired at the beginning of the fiscal year at a cost of $90,000 has an estimated residual value of $12,000 and an estimated useful life of 25 years. a. Determine the amount of annual depreciation by the straight-line method. s b. Determine the amount of depreciation for the first and second years computed by the double-declining-balance method. Depreciation Year 1 $ Year 2 $ 10 more Check My Work uses remaining.
Preparing Depreciation Schedules Using Various Depreciation Methods Frito Inc. acquired equipment on January 1, 2020, at...
Preparing Depreciation Schedules Using Various Depreciation Methods Frito Inc. acquired equipment on January 1, 2020, at a cost of $12,000 that is estimated to have a useful life of five years and a residual value of $3,000. Required Prepare a depreciation schedule showing annual depreciation expense and year-end accumulated depreciation and book value over the life of the asset using the following methods. a. Straight-line method. b. Sum-of-the-years'-digits method. c. Double-declining-balance method. Straight-line Sum-of-the-years'-digits Double-declining balance a. Straight-Line Depreciation Method...
please show work 1. Computer equipment was acquired at the beginning of the year at a...
please show work
1. Computer equipment was acquired at the beginning of the year at a cost of $65,000 that has an estimated residual value of $3,800 and an estimated useful life of 8 years. Determine the (a) depreciable cost, (b) straight-line rate, and (c) annual straight-line depreciation. 2. Machinery is purchased on July 1 of the current fiscal year for $240,000. It is expected to have a useful life of 4 years, or 25,000 operating hours, and a residual...
Computer equipment was acquired at the beginning of the year at a cost of $67,500 that...
Computer equipment was acquired at the beginning of the year at
a cost of $67,500 that has an estimated residual value of $4,100
and an estimated useful life of 5 years.
AssignmentMain.do?invokere&takeAssignmentSessionLocator=assignment-take&inprogress=false Calculator Computer equipment was acquired at the beginning of the year at a cost of $67,500 that has an estimated residual value of $4,100 and an estimated useful life of years (a) Depreciable cost (b) Double-declining-balance rate (c) Double-declining-balance depreciation for the first year
Computer equipment was acquired at the beginning of the year at a cost of $57,000 that...
Computer equipment was acquired at the beginning of the year at a cost of $57,000 that has an estimated residual value of $9,000 and an estimated useful life of 5 years (20 points) Determine the 1st and 2nd year's depreciation expense, and accounts balances reported in balance sheets using the straight-line method b. Determine the 1st and 2nd year's depreciation expense, and accounts balances reported in the balance sheets using double-declining-balance method. (8points, calculation procedure counts 4 points, filling the...
Depreciation by Two Methods A storage tank acquired at the beginning of the fiscal year at...
Depreciation by Two Methods A storage tank acquired at the beginning of the fiscal year at a cost of $90,000 has an estimated residual value of $5,600 and an estimated useful life of four years a. Determine the amount of annual depreciation by the straight-line method. b. Determine the amount of depreciation for the first and second years computed by the double-declining balance method. Do not round the double-declining balance rate. If required, round your answers to the nearest dollar...
Computer equipment was acquired at the beginning of the year at a cost of $83,000 that...
Computer equipment was acquired at the beginning of the year at a cost of $83,000 that has an estimated residual value of $3,000 and an estimated useful life of 5 years. (15 points) Determine the: a. What is the straight line rate percent? b. What is double-declining-balance rate percent? c. What is the depreciation expense for year 3? d. What is the book value at year 3? e. Journalize the depreciation for year 3.
Depreciation by Two Methods A storage tank acquired at the beginning of the fiscal year at...
Depreciation by Two Methods A storage tank acquired at the beginning of the fiscal year at a cost of $95,000 has an estimated residual value of $6,000 and an estimated useful life of 10 years. a. Determine the amount of annual depreciation by the straight-line method. x b. Determine the amount of depreciation for the first and second years computed by the double-declining-balance method. Do not round the double-declining balance rate. If required, round your answers to the nearest dollar....
8A-3. PLUM Corporation acquired a new computer early in January of Year 1 for $90,000. They expected the computer to have a six-year useful life and a residual value of $6,000. Required: Prepare tables showing the depreciation expense that would be recorded each year for the six-year useful life of the computer using: (a) straight-line; and (b) double-declining-balance. Chapter 8 Section A a. straight-line method: b. double-declining balance method:
On January 1, 2015, Swift Corporation, a small manufacturer of
machine tools, acquired new industrial equipment for $1,320,000.
The new equipment had a useful life of five years and the residual
value was estimated to be $60,000. Swift estimates that the new
equipment can produce 14,500 machine tools in its first year. It
estimates that production will decline by 1,000 units per year over
the equipment’s remaining useful life.
The following depreciation methods may be used: (1) straight-line,
(2) double-declining-balance,...
Depreciation by Two Methods A storage tank acquired at the beginning of the fiscal year at a cost of $90,000 has an estimated residual value of $12,000 and an estimated useful life of 25 years. a. Determine the amount of annual depreciation by the straight-line method. s b. Determine the amount of depreciation for the first and second years computed by the double-declining-balance method. Depreciation Year 1 $ Year 2 $ 10 more Check My Work uses remaining.
Preparing Depreciation Schedules Using Various Depreciation Methods Frito Inc. acquired equipment on January 1, 2020, at a cost of $12,000 that is estimated to have a useful life of five years and a residual value of $3,000. Required Prepare a depreciation schedule showing annual depreciation expense and year-end accumulated depreciation and book value over the life of the asset using the following methods. a. Straight-line method. b. Sum-of-the-years'-digits method. c. Double-declining-balance method. Straight-line Sum-of-the-years'-digits Double-declining balance a. Straight-Line Depreciation Method...
please show work
1. Computer equipment was acquired at the beginning of the year at a cost of $65,000 that has an estimated residual value of $3,800 and an estimated useful life of 8 years. Determine the (a) depreciable cost, (b) straight-line rate, and (c) annual straight-line depreciation. 2. Machinery is purchased on July 1 of the current fiscal year for $240,000. It is expected to have a useful life of 4 years, or 25,000 operating hours, and a residual...
Computer equipment was acquired at the beginning of the year at
a cost of $67,500 that has an estimated residual value of $4,100
and an estimated useful life of 5 years.
AssignmentMain.do?invokere&takeAssignmentSessionLocator=assignment-take&inprogress=false Calculator Computer equipment was acquired at the beginning of the year at a cost of $67,500 that has an estimated residual value of $4,100 and an estimated useful life of years (a) Depreciable cost (b) Double-declining-balance rate (c) Double-declining-balance depreciation for the first year
Depreciation by Two Methods A storage tank acquired at the beginning of the fiscal year at a cost of $90,000 has an estimated residual value of $5,600 and an estimated useful life of four years a. Determine the amount of annual depreciation by the straight-line method. b. Determine the amount of depreciation for the first and second years computed by the double-declining balance method. Do not round the double-declining balance rate. If required, round your answers to the nearest dollar...
Depreciation by Two Methods A storage tank acquired at the beginning of the fiscal year at a cost of $95,000 has an estimated residual value of $6,000 and an estimated useful life of 10 years. a. Determine the amount of annual depreciation by the straight-line method. x b. Determine the amount of depreciation for the first and second years computed by the double-declining-balance method. Do not round the double-declining balance rate. If required, round your answers to the nearest dollar....
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