Bramble Company purchases equipment on January 1, Year 1, at a cost of $552,000. The asset...
Bramble Company purchases equipment on January 1, Year 1, at a cost of $552,000. The asset is expected to have a service life of 12 years and a salvage value of $49,680
compute the amount of depreciation for each of Years 1 through 3 using the straight-line depreciation method
Homework Answers
| Ans. | Straight line depreciation = (Cost of asset - Residual value) / Useful life in years | |||
| ($552,000 - $49,680) / 12 | ||||
| $502,320 / 12 | ||||
| $41,860 | ||||
| *In Straight line method the depreciation is equal in each year. | ||||
| Year | Depreciation | |||
| 1 | $41,860 | |||
| 2 | $41,860 | |||
| 3 | $41,860 | |||
Add Answer to:
Bramble Company purchases equipment on January 1, Year 1, at a
cost of $552,000. The asset...
Bramble Company purchases equipment on January 1, Year 1, at a cost of $552,000. The asset...
Bramble Company purchases equipment on January 1, Year 1, at a cost of $552,000. The asset is expected to have a service life of 12 years and a salvage value of $49,680. Compute the amount of depreciation for each of Years 1 through 3 using the sum-of-the-years'-digits method.
Bramble Company purchases equipment on January 1, Year 1, at a cost of $552,000. The asset...
Bramble Company purchases equipment on January 1, Year 1, at a cost of $552,000. The asset is expected to have a service life of 12 years and a salvage value of $49,680. Compute the amount of depreciation for each of Years 1 through 3 using the double-declining-balance method
Whispering Company purchases equipment on January 1, Year 1, at a cost of $534,000. The asset...
Whispering Company purchases equipment on January 1, Year 1, at a cost of $534,000. The asset is expected to have a service life of 12 years and a salvage value of $48,060 Compute the amount of depreciation for each of Years 1 through 3 using the straight-line depreciation method. (Round answers to 0 decimal places, e.g. 5,125.) Depreciation for Year 1 $ Depreciation for Year 2 $ Depreciation for Year 3 $ Compute the amount of depreciation for each of Years 1 through 3 using...
Nash Company purchases equipment on January 1, Year 1, at a cost of $480,000. The asset...
Nash Company purchases equipment on January 1, Year 1, at a cost
of $480,000. The asset is expected to have a service life of 12
years and a salvage value of $43,200.
A. Compute the amount of depreciation for each of Years 1
through 3 using the straight-line depreciation method.
(Round answers to 0 decimal places, e.g.
5,125.)
Depreciation for Year 1
Depreciation for Year 2
Depreciation for Year 3
B. Compute the amount of depreciation for each of Years...
Exercise 11-1 Sage Company purchases equipment on January 1, Year 1, at a cost of $586,250. The asset is expected to hav...
Exercise 11-1 Sage Company purchases
equipment on January 1, Year 1, at a cost of $586,250. The asset is
expected to have a service life of 12 years and a salvage value of
$50,000. Compute the amount of depreciation for Years 1 through 3
using the straight-line depreciation method. (Round answers to 0
decimal places, e.g. 5,125.) Depreciation for Year 1 $ Depreciation
for Year 2 $ Depreciation for Year 3 $ LINK TO TEXT Compute the
amount of depreciation...
Waterway Company purchases equipment on January 1, Year 1, at a cost of $582,000. The asset...
Waterway Company purchases equipment on January 1, Year 1, at a cost of $582,000. The asset is expected to have a service life of 12 years and a salvage value of $52,380. 1)Compute the amount of depreciation for each of Years 1 through 3 using the sum-of-the-years'-digits method. 2)Compute the amount of depreciation for each of Years 1 through 3 using the double-declining-balance method.
Sheffield Company purchases equipment on January 1, Year 1, at a cost of $570,000. The asset...
Sheffield Company purchases equipment on January 1, Year 1, at a cost of $570,000. The asset is expected to have a service life of 12 years and a salvage value of $51,300. Compute the amount of depreciation for each of Years 1 through 3 using the double-declining-balance method.
Sheffield Company purchases equipment on January 1, Year 1, at a cost of $570,000. The asset...
Sheffield Company purchases equipment on January 1, Year 1, at a cost of $570,000. The asset is expected to have a service life of 12 years and a salvage value of $51,300. * Your answer is incorrect. decimal Compute the amount of depreciation for each of Years 1 through 3 using the straight-line depreciation method. (Round answers to places, e.g. 5,125.) Depreciation for Year 1 $ 47310 43383 Depreciation for Year 2 $ Depreciation for Year 3 $ 39782 eTextbook...
Crane Company purchases equipment on January 1, Year 1, at a cost of $474,000. The asset...
Crane Company purchases equipment on January 1, Year 1, at a cost of $474,000. The asset is expected to have a service life of 12 years and a salvage value of $42,660. Compute the amount of depreciation for each of Years 1 through 3 using the straight-line depreciation method. (Round answers to 0 decimal places, e.g. 5,125.) Depreciation for Year 1 $ Depreciation for Year 2 $ Depreciation for Year 3 $ Compute the amount of depreciation for each of...
Swifty Company purchases equipment on January 1, Year 1, at a cost of $486,000. The asset...
Swifty Company purchases equipment on January 1, Year 1, at a
cost of $486,000. The asset is expected to have a service life of
12 years and a salvage value of $43,740.
(a)
Your answer is correct.
Compute the amount of depreciation for each of Years 1 through 3
using the straight-line depreciation method. (Round
answers to 0 decimal places, e.g. 5,125.)
Depreciation for Year 1
$enter a dollar amount rounded to 0 decimal places
Depreciation for Year 2
$enter...
Whispering Company purchases equipment on January 1, Year 1, at a cost of $534,000. The asset is expected to have a service life of 12 years and a salvage value of $48,060 Compute the amount of depreciation for each of Years 1 through 3 using the straight-line depreciation method. (Round answers to 0 decimal places, e.g. 5,125.) Depreciation for Year 1 $ Depreciation for Year 2 $ Depreciation for Year 3 $ Compute the amount of depreciation for each of Years 1 through 3 using...
Nash Company purchases equipment on January 1, Year 1, at a cost
of $480,000. The asset is expected to have a service life of 12
years and a salvage value of $43,200.
A. Compute the amount of depreciation for each of Years 1
through 3 using the straight-line depreciation method.
(Round answers to 0 decimal places, e.g.
5,125.)
Depreciation for Year 1
Depreciation for Year 2
Depreciation for Year 3
B. Compute the amount of depreciation for each of Years...
Exercise 11-1 Sage Company purchases
equipment on January 1, Year 1, at a cost of $586,250. The asset is
expected to have a service life of 12 years and a salvage value of
$50,000. Compute the amount of depreciation for Years 1 through 3
using the straight-line depreciation method. (Round answers to 0
decimal places, e.g. 5,125.) Depreciation for Year 1 $ Depreciation
for Year 2 $ Depreciation for Year 3 $ LINK TO TEXT Compute the
amount of depreciation...
Sheffield Company purchases equipment on January 1, Year 1, at a cost of $570,000. The asset is expected to have a service life of 12 years and a salvage value of $51,300. * Your answer is incorrect. decimal Compute the amount of depreciation for each of Years 1 through 3 using the straight-line depreciation method. (Round answers to places, e.g. 5,125.) Depreciation for Year 1 $ 47310 43383 Depreciation for Year 2 $ Depreciation for Year 3 $ 39782 eTextbook...
Swifty Company purchases equipment on January 1, Year 1, at a
cost of $486,000. The asset is expected to have a service life of
12 years and a salvage value of $43,740.
(a)
Your answer is correct.
Compute the amount of depreciation for each of Years 1 through 3
using the straight-line depreciation method. (Round
answers to 0 decimal places, e.g. 5,125.)
Depreciation for Year 1
$enter a dollar amount rounded to 0 decimal places
Depreciation for Year 2
$enter...
Most questions answered within 3 hours.
-
If you could afford exactly 6 apples and 14 bananas, or 10
apples and 6 bananas,...
asked 7 minutes ago -
Write functions squareByValue,
squareByRef, squareByPointer that find the square of an integer, in
three different ways:...
asked 2 minutes ago -
Find the P - value for the test statistic ?=2.74z=2.74
for the following null and alternative...
asked 8 minutes ago -
An software company has three different promotion plans for
its software purchase:
plan A: each software...
asked 27 minutes ago -
If
P(A)=.62, P(B)=.47, & P(A or B)=.88. What is the likeliness of
selecting only A?
A)...
asked 27 minutes ago -
What is the FUTURE VALUE of $500 invested for 3 years at 7% with
ANNUAL Compounding...
asked 36 minutes ago -
Modify the method so that instead of manually making teams, it
reads it from a text...
asked 35 minutes ago -
1. Which of the following is not a principle to apply to
construction:
Select one:
a....
asked 36 minutes ago -
In what way is a Christian’s position made more challenging by
revealing faith in the workplace?...
asked 44 minutes ago -
1) There are four categories of customer benefits in B2B
(business-to-business) markets. Which of the following...
asked 41 minutes ago -
What is the pH of a 150.0 mL solution of 0.0273 M NaOH (strong
base)?
asked 50 minutes ago -
A thin ball shell is shaped like a hollow ball with a radius of
26.6 cm....
asked 56 minutes ago