Homework Answers
| 46 | Depreciation under straight-line method=(Acquisition cost-Residual value)/Useful life=(85000-5000)/8=80000/8=$ 10000 | ||||||||
| Equipment acquired on April 1. | |||||||||
| Hence,compute depreciation from April to December (For 9 months) | |||||||||
| Depreciation=10000*(9/12)=$ 7500 | |||||||||
| d. $7500 | |||||||||
| 47 | Accumulated depreciation=Units produced in 20X1 and 20X2*Depreciation rate per unit produced | ||||||||
| Depreciation rate per unit produced=(Acquisition cost-Residual value)/Estimated production=(85000-5000)/800000=80000/800000=$ 0.10 | |||||||||
| Accumulated depreciation=(75000+150000)*0.10=225000*0.10=$ 22500 | |||||||||
| b. $22500 | |||||||||
| 48 | Depreciation rate under double declining balance method=2*(1/Useful life)=2*(1/8)=2*0.125=0.25=25% | ||||||||
| Equipment acquired on April 1. | |||||||||
| Hence,compute depreciation from April to December (For 9 months) | |||||||||
| Depreciation=85000*25%*(9/12)=$ 15937.5=$ 15938 | |||||||||
| a. $ 15938 | |||||||||
| 49 | Depreciation for 20X2=Book value at the beginning of 20X2*Depreciation rate | ||||||||
| Book value at the beginning of 20X2=Acquisition cost-Depreciation for 20X1=85000-15938=$ 69062 | |||||||||
| Depreciation for 20X2=69062*25%=17265.5=$ 17265 | |||||||||
| Book value at the end of 20X2=Book value at the beginning of 20X1-Depreciation for 20X2=69062-17265=$ 51797 | |||||||||
| c. $ 51797 | |||||||||
| 50 | Useful life=8 years | ||||||||
| Sum of the years of useful life=1+2+3+4+5+6+7+8=36 | |||||||||
| Depreciation for first year=8/36 | |||||||||
| Equipment acquired on April 1. | |||||||||
| Hence,compute depreciation from April to December (For 9 months) | |||||||||
| Depreciation for second year=7/36 | |||||||||
| First compute depreciation for 3 months from first year.Then compute depreciation for 9 months using second year rate | |||||||||
| Depreciation for 3 months from first year=(85000-5000)*(8/36)*(3/12)=$ 4444 | |||||||||
| Depreciation for 9 months using second year rate=(85000-5000)*(7/36)*(9/12)=$ 11667 | |||||||||
| Depreciation for 20X2=4444+11667=$ 16111 | |||||||||
| c. $ 16111 | |||||||||
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