Homework Answers
Annual depreciation = ( Cost price - Residual value)/Useful life
= (67,800-2,000)/5
= $13,160
Book value at the point of revision = Cost price - Depreciation for year 1
= 67,800-13,160
= $54,640
Remaining depreciation cost = Book value at the point of revision - Residual value
= 54,640-2,000
= 52,640
Depreciation per year for year 2 and year 3 = Remaining depreciation cost / 2
= 52,640/2
= $26,320
| Book value at point of revision | $54,640 |
| Remaining depreciation cost | $52,640 |
| Depreciation per year for years 2 and 3 | $26,320 |
Kindly comment if you need further assistance. Thanks‼!
Add Answer to:
QS 8-7 Computing revised depreciation LO C2 On January 1, the Matthews Band pays $67,800 for...
QS 10-7 Computing revised depreciation LO C2 points On January 1, the Matthews Band pays $65,800...
QS 10-7 Computing revised depreciation LO C2 points On January 1, the Matthews Band pays $65,800 for sound equipment. The band estimates it will use this equipment for four years and after four years it can sell the equipment for $2,000. Matthews Band uses straight-line depreciation but realizes at the start of the second year that this equipment will last only a total of three years. The Salvage value of changed. XS 03:18:20 Compute the revised depreciation for both the...
QS 10-5 Computing revised depreciation LO C2 On January 2, 2017, the Matthews Band acquires sound...
QS 10-5 Computing revised depreciation LO C2 On January 2, 2017, the Matthews Band acquires sound equipment for concert performances at a cost of $66,400. The band estimates it will use this equipment for four years. It estimates that after four years it can sell the equipment for $1,000. Matthews Band uses straight-line depreciation but realizes at the start of the second year that due to concert bookings beyond expectations, this equipment will last only a total of three years....
Can I have the steps provided as well QS 10-7 Computing revised depreciation C2 On January...
Can I have the steps provided as well
QS 10-7 Computing revised depreciation C2 On January 1, the Matthews Band pays $65,800 for sound equipment. The band estimates it will use this equipment for four years and after four years it can sell the equipment for $2,000. Matthews Band uses straight-line depreciation but realizes at the start of the second year that this equipment will last only a total of three years. The salvage value is not changed. Compute the...
On January 1, the Matthews Band pays $67,200 for sound equipment. The band estimates it will...
On January 1, the Matthews Band pays $67,200 for sound equipment. The band estimates it will use this equipment for four years and after four years it can sell the equipment for $1,000. Matthews Band uses straight-line depreciation but realizes at the start of the second year that this equipment will last only a total of three years. The salvage value is not changed. Compute the revised depreciation for both the second and third years. Book value at point of...
On January 1, the Matthews Band pays $67,800 for sound equipment. The band estimates it will...
On January 1, the Matthews Band pays $67,800 for sound equipment. The band estimates it will use this equipment for five years and perform 200 concerts. It estimates that after five years it can sell the equipment for $2,000. During the first year, the band performs 55 concerts. Compute the first-year depreciation using the units-of-production method. Select formula for the depreciation rate of Units of Production: (Cost - Salvage value) / Total units of production Calculate the first year depreciation...
Check my QS 10-3 Straight-line depreciation LO P1 On January 1, the Matthews Band pays $66.400...
Check my QS 10-3 Straight-line depreciation LO P1 On January 1, the Matthews Band pays $66.400 for sound equipment. The band estimates it will use this equipment for four years and perform 200 concerts. It estimates that after four years it can sell the equipment for $1.000. During the first year, the band performs 45 concerts Compute the first-year depreciation using the straight-line method Straight Line Depreciation Choose Numerator: Choose Denominator: Annual Depreciation Expense Depreciation expense
QS 10-4 Units-of-production depreciation LO P1 On January 1, the Matthews Band pays $65,800 for sound...
QS 10-4 Units-of-production depreciation LO P1 On January 1, the Matthews Band pays $65,800 for sound equipment. The band estimates it will use this equipment for four years and perform 200 concerts. It estimates that after four years it can sell the equipment for $2.000 During the first year the band performs 45 concerts. Compute the first-year depreciation using the units-of-production method. Select formula for the depreciation rate of Units of Production: Calculate the first year deprecilation expense Depreciation per...
Hello, I really need help with this problem ASAP. Any help is much appreciated and I'll...
Hello, I really need help with this problem ASAP. Any help is
much appreciated and I'll give a thumbs up. Thank you in
advance.
On January 1, the Matthews Band pays $68,000 for sound equipment. The band estimates it will use this equipment for four years and after four years it can sell the equipment for $1,000. Matthews Band uses straight-line depreciation but realizes at the start of the second year that this equipment will last only a total of...
QS 8-4 Units-of-production depreciation LO P1 On January 2, 2015, the Matthews Band acquires sound equipment for concer...
QS 8-4 Units-of-production depreciation LO P1 On January 2, 2015, the Matthews Band acquires sound equipment for concert performances at a cost of $67,000. The band estimates it will use this equipment for 5 years, during which time it anticipates performing about 200 concerts. It estimates that after five years it can sell the equipment for $2,000. During year 2015, the band performs 55 concerts. Compute the year 2015 depreciation using the units-of-production method Select formula for the depreciation rate...
On January 1, the Matthews Band pays $65,600 for sound equipment. The band estimates it will...
On January 1, the Matthews Band pays $65,600 for sound equipment. The band estimates it will use this equipment for five years and perform 200 concerts. It estimates that after five years it can sell the equipment for $2.000. During the first year, the band performs 45 concerts Compute the first-year depreciation using the straight-line method. Straight-Line Depreciation Choose Numerator: Choose Denominator: Annual Depreciation Expense Depreciation expense = Beginning book value Cost Cost minus salvage On January 1, the Matthews...
QS 10-7 Computing revised depreciation LO C2 points On January 1, the Matthews Band pays $65,800 for sound equipment. The band estimates it will use this equipment for four years and after four years it can sell the equipment for $2,000. Matthews Band uses straight-line depreciation but realizes at the start of the second year that this equipment will last only a total of three years. The Salvage value of changed. XS 03:18:20 Compute the revised depreciation for both the...
QS 10-5 Computing revised depreciation LO C2 On January 2, 2017, the Matthews Band acquires sound equipment for concert performances at a cost of $66,400. The band estimates it will use this equipment for four years. It estimates that after four years it can sell the equipment for $1,000. Matthews Band uses straight-line depreciation but realizes at the start of the second year that due to concert bookings beyond expectations, this equipment will last only a total of three years....
Can I have the steps provided as well
QS 10-7 Computing revised depreciation C2 On January 1, the Matthews Band pays $65,800 for sound equipment. The band estimates it will use this equipment for four years and after four years it can sell the equipment for $2,000. Matthews Band uses straight-line depreciation but realizes at the start of the second year that this equipment will last only a total of three years. The salvage value is not changed. Compute the...
On January 1, the Matthews Band pays $67,200 for sound equipment. The band estimates it will use this equipment for four years and after four years it can sell the equipment for $1,000. Matthews Band uses straight-line depreciation but realizes at the start of the second year that this equipment will last only a total of three years. The salvage value is not changed. Compute the revised depreciation for both the second and third years. Book value at point of...
On January 1, the Matthews Band pays $67,800 for sound equipment. The band estimates it will use this equipment for five years and perform 200 concerts. It estimates that after five years it can sell the equipment for $2,000. During the first year, the band performs 55 concerts. Compute the first-year depreciation using the units-of-production method. Select formula for the depreciation rate of Units of Production: (Cost - Salvage value) / Total units of production Calculate the first year depreciation...
Check my QS 10-3 Straight-line depreciation LO P1 On January 1, the Matthews Band pays $66.400 for sound equipment. The band estimates it will use this equipment for four years and perform 200 concerts. It estimates that after four years it can sell the equipment for $1.000. During the first year, the band performs 45 concerts Compute the first-year depreciation using the straight-line method Straight Line Depreciation Choose Numerator: Choose Denominator: Annual Depreciation Expense Depreciation expense
QS 10-4 Units-of-production depreciation LO P1 On January 1, the Matthews Band pays $65,800 for sound equipment. The band estimates it will use this equipment for four years and perform 200 concerts. It estimates that after four years it can sell the equipment for $2.000 During the first year the band performs 45 concerts. Compute the first-year depreciation using the units-of-production method. Select formula for the depreciation rate of Units of Production: Calculate the first year deprecilation expense Depreciation per...
Hello, I really need help with this problem ASAP. Any help is
much appreciated and I'll give a thumbs up. Thank you in
advance.
On January 1, the Matthews Band pays $68,000 for sound equipment. The band estimates it will use this equipment for four years and after four years it can sell the equipment for $1,000. Matthews Band uses straight-line depreciation but realizes at the start of the second year that this equipment will last only a total of...
QS 8-4 Units-of-production depreciation LO P1 On January 2, 2015, the Matthews Band acquires sound equipment for concert performances at a cost of $67,000. The band estimates it will use this equipment for 5 years, during which time it anticipates performing about 200 concerts. It estimates that after five years it can sell the equipment for $2,000. During year 2015, the band performs 55 concerts. Compute the year 2015 depreciation using the units-of-production method Select formula for the depreciation rate...
On January 1, the Matthews Band pays $65,600 for sound equipment. The band estimates it will use this equipment for five years and perform 200 concerts. It estimates that after five years it can sell the equipment for $2.000. During the first year, the band performs 45 concerts Compute the first-year depreciation using the straight-line method. Straight-Line Depreciation Choose Numerator: Choose Denominator: Annual Depreciation Expense Depreciation expense = Beginning book value Cost Cost minus salvage On January 1, the Matthews...
Most questions answered within 3 hours.
-
Jamie is doing a survey at her school about whether the students
feel the cafeteria food...
asked 31 seconds ago -
What are the roles of 3' and 5' untranslated regions in
mRNAs?
asked 1 minute ago -
A domestic television receives antenna delivers a sky noise
power of -105 dBm to a matched...
asked 26 seconds ago -
What do you think are the chemical reactions involved in the
breathalyzer tests administered to potentially...
asked 15 minutes ago -
A random sample of 120 observations produces a mean of
38.2 from a population with a...
asked 22 minutes ago -
The average area of land burned by forest fires every year in
Canada is 2.5 million...
asked 24 minutes ago -
36. The basic difference between government bureaus and market
firms is that bureaus:
a. can...
asked 24 minutes ago -
java
- A recursive method findR() to search for a number in list
(ArrayList)
- A...
asked 42 minutes ago -
Which of the following is an example of a screen against adverse
selection? [Mark All That...
asked 41 minutes ago -
A worker drives a 0.560 kg spike into a rail tie with a 2.76 kg
sledgehammer....
asked 47 minutes ago -
Assume the following information concerning two stocks that make
up an index. What is the price-weighted...
asked 50 minutes ago -
Suppose a firm has a retention ratio of 58 percent and net
income of $9.2 million....
asked 52 minutes ago