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On January 1, 2020, SugarBear Company acquired equipment costing $160,000, which will be depreciated on the...
Crane Company purchased equipment on March 27, 2018, at a cost of $228,000. Management is contemplating...
Crane Company purchased equipment on March 27, 2018, at a cost of $228,000. Management is contemplating the merits of using the diminishing-balance or units-of-production method of depreciation instead of the straight-line method, which it currently uses for other equipment. The new equipment has an estimated residual value of $4,000 and an estimated useful life of either four years or 80,000 units. Demand for the products produced by the equipment is sporadic so the equipment will be used more in some...
Question 13 Cullumber Company purchased equipment on March 27, 2018, at a cost of $328,000. Management...
Question 13
Cullumber Company purchased equipment on March 27, 2018, at a
cost of $328,000. Management is contemplating the merits of using
the diminishing-balance or units-of-production method of
depreciation instead of the straight-line method, which it
currently uses for other equipment. The new equipment has an
estimated residual value of $8,000 and an estimated useful life of
either four years or 80,000 units. Demand for the products produced
by the equipment is sporadic so the equipment will be used more...
*Problem 9-4A a-b (Part Level Submission) Blossom Company purchased equipment on March 27, 2018, at a...
*Problem 9-4A a-b (Part Level Submission) Blossom Company purchased equipment on March 27, 2018, at a cost of $272,000. Management is contemplating the merits of using the diminishing-balance or units-of-production method of depreciation instead of the straight- line method, which it currently uses for other equipment. The new equipment has an estimated residual value of $8,000 and an estimated useful life of either four years or 80,000 units. Demand for the products produced by the equipment is sporadic so the...
On December 27, 2018, Sunland Windows purchased a piece of equipment for $109,000. The estimated useful...
On December 27, 2018, Sunland Windows purchased a piece of equipment for $109,000. The estimated useful life of the equipment is either three years or 50,000 units, with a residual value of $7,000. The company has a December 31 fiscal year end and normally uses straight-line depreciation. Management is considering the merits of using the units-of-production or diminishing-balance method of depreciation instead of the straight-line method. The actual numbers of units produced by the equipment were 12,000 in 2019, 19,500...
Sunland Company purchased equipment for $222,000 on October 1, 2020. It is estimated that the equipment...
Sunland Company purchased equipment for $222,000 on October 1, 2020. It is estimated that the equipment will have a useful life of 8 years and a salvage value of $13,200. Estimated production is 36,000 units and estimated working hours are 20,000. During 2020, Sunland uses the equipment for 550 hours and the equipment produces 1,000 units. Compute depreciation expense under each of the following methods. Sunland is on a calendar-year basis ending December 31. (Round rate per hour and rate...
Nash Company purchased equipment for $199,200 on October 1, 2020. It is estimated that the equipment...
Nash Company purchased equipment for $199,200 on October 1, 2020. It is estimated that the equipment will have a useful life of 8 years and a salvage value of $12,000. Estimated production is 36,000 units and estimated working hours are 20,000o. During 2020, Nash uses the equipment for 500 hours and the equipment produces 1,100 units. Compute depreciation expense under each of the following methods. Nash is on a calendar-year basis ending December 31. (Round rate per hour and rate...
Windsor Company purchased equipment for $206,400 on October 1, 2020. It is estimated that the equipment...
Windsor Company purchased equipment for $206,400 on October 1, 2020. It is estimated that the equipment will have a useful life of 8 years and a salvage value of $12,000. Estimated production is 36,000 units and estimated working hours are 20,000. During 2020, Windsor uses the equipment for 550 hours and the equipment produces 1,100 units. Compute depreciation expense under each of the following methods. Windsor is on a calendar-year basis ending December 31. (Round rate per hour and rate...
Blue Company purchased equipment for $266,000 on October 1, 2020. It is estimated that the equipment...
Blue Company purchased equipment for $266,000 on October 1, 2020. It is estimated that the equipment will have a useful life of 8 years and a salvage value of $14,000. Estimated production is 40,000 units and estimated working hours are 20,000. During 2020, Blue uses the equipment for 530 hours and the equipment produces 1,100 units. Compute depreciation expense under each of the following methods. Blue is on a calendar-year basis ending December 31. (Round rate per hour and rate...
Blossom Company purchased equipment for $303,200 on October 1, 2020. It is estimated that the equipment...
Blossom Company purchased equipment for $303,200 on October 1, 2020. It is estimated that the equipment will have a useful life of 8 years and a salvage value of $15,200. Estimated production is 45,000 units and estimated working hours are 20,000. During 2020, Blossom uses the equipment for 530 hours and the equipment produces 1,000 units Compute depreciation expense under each of the following methods. Blossom is on a calendar-year basis ending December 31. (Round rate per hour and rate...
Problem 9-3A a-b Crane Limited purchased a machine on account on April 2, 2018, at an...
Problem 9-3A a-b Crane Limited purchased a machine on account on April 2, 2018, at an invoice price of $325,020. On April 4, it paid $1,820 for delivery of the machine. A one-year, $3,940 insurance policy on the machine was purchased on April 5. On April 18, Crane paid $8,150 for installation and testing of the machine. The machine was ready for use on April 30. Crane estimates the machine's useful life will be five years or 6,326 units with...
Question 13
Cullumber Company purchased equipment on March 27, 2018, at a
cost of $328,000. Management is contemplating the merits of using
the diminishing-balance or units-of-production method of
depreciation instead of the straight-line method, which it
currently uses for other equipment. The new equipment has an
estimated residual value of $8,000 and an estimated useful life of
either four years or 80,000 units. Demand for the products produced
by the equipment is sporadic so the equipment will be used more...
*Problem 9-4A a-b (Part Level Submission) Blossom Company purchased equipment on March 27, 2018, at a cost of $272,000. Management is contemplating the merits of using the diminishing-balance or units-of-production method of depreciation instead of the straight- line method, which it currently uses for other equipment. The new equipment has an estimated residual value of $8,000 and an estimated useful life of either four years or 80,000 units. Demand for the products produced by the equipment is sporadic so the...
Sunland Company purchased equipment for $222,000 on October 1, 2020. It is estimated that the equipment will have a useful life of 8 years and a salvage value of $13,200. Estimated production is 36,000 units and estimated working hours are 20,000. During 2020, Sunland uses the equipment for 550 hours and the equipment produces 1,000 units. Compute depreciation expense under each of the following methods. Sunland is on a calendar-year basis ending December 31. (Round rate per hour and rate...
Nash Company purchased equipment for $199,200 on October 1, 2020. It is estimated that the equipment will have a useful life of 8 years and a salvage value of $12,000. Estimated production is 36,000 units and estimated working hours are 20,000o. During 2020, Nash uses the equipment for 500 hours and the equipment produces 1,100 units. Compute depreciation expense under each of the following methods. Nash is on a calendar-year basis ending December 31. (Round rate per hour and rate...
Windsor Company purchased equipment for $206,400 on October 1, 2020. It is estimated that the equipment will have a useful life of 8 years and a salvage value of $12,000. Estimated production is 36,000 units and estimated working hours are 20,000. During 2020, Windsor uses the equipment for 550 hours and the equipment produces 1,100 units. Compute depreciation expense under each of the following methods. Windsor is on a calendar-year basis ending December 31. (Round rate per hour and rate...
Blue Company purchased equipment for $266,000 on October 1, 2020. It is estimated that the equipment will have a useful life of 8 years and a salvage value of $14,000. Estimated production is 40,000 units and estimated working hours are 20,000. During 2020, Blue uses the equipment for 530 hours and the equipment produces 1,100 units. Compute depreciation expense under each of the following methods. Blue is on a calendar-year basis ending December 31. (Round rate per hour and rate...
Blossom Company purchased equipment for $303,200 on October 1, 2020. It is estimated that the equipment will have a useful life of 8 years and a salvage value of $15,200. Estimated production is 45,000 units and estimated working hours are 20,000. During 2020, Blossom uses the equipment for 530 hours and the equipment produces 1,000 units Compute depreciation expense under each of the following methods. Blossom is on a calendar-year basis ending December 31. (Round rate per hour and rate...
Problem 9-3A a-b Crane Limited purchased a machine on account on April 2, 2018, at an invoice price of $325,020. On April 4, it paid $1,820 for delivery of the machine. A one-year, $3,940 insurance policy on the machine was purchased on April 5. On April 18, Crane paid $8,150 for installation and testing of the machine. The machine was ready for use on April 30. Crane estimates the machine's useful life will be five years or 6,326 units with...
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