Homework Answers
Schedule
Rate = 100/8*2 = 25%
| Year | Book value | rate | Depreciation | Book value |
| 1 | 60000 | 25% | 15000 | 45000 |
| 2 | 45000 | 25% | 11250 | 33750 |
| 3 | 33750 | 25% | 8438 | 25312 |
| 4 | 25312 | 25% | 6328 | 18984 |
| 5 | 18984 | 25% | 4746 | 14238 |
| 6 | 14238 | 25% | 3560 | 10678 |
| 7 | 10678 | 25% | 2670 | 8008 |
| 8 | 8008 | 25% | 4008 | 4000 |
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Use the following information to complete the deprecation schedule below using the Double Declining Balance method...
Use the following information to complete the deprecation schedule below using the Straight Line method of...
Use the following information to complete the deprecation schedule below using the Straight Line method of depreciation: An asset was purchased on Jan. 1 2017 at a cost of $60,000. The asset has a salvage value of $4,000 and an estimated life of 8 years. wwwwww VAR Year Annual Depreciation Book Value 60,000 on AWN
use the following information to complete the depreciation schedule below using the units of production method...
use the following information to complete the depreciation
schedule below using the units of production method of
depreciation.
A machine was purchased on Jan. 1, 2017 for a cost of $60,000. It
has a salvage value of $4,000 and is expected to produce 130,000
units during its useful life.
Year 1 - a machine produced 12,000 units.
Year 2 - a machine produced 16,000 units.
Year 3 - a machine produced 11,000 units.
Round you depreciable rate to the nearest...
Double Declining Balance Depreciation A small delivery truck was purchased on January 1 at a cost...
Double Declining Balance Depreciation A small delivery truck was purchased on January 1 at a cost of $25,000. It has an estimated useful life of four years and an estimated salvage value of $5,000. Prepare a depreciation schedule showing the depreciation expense, accumulated depreciation, and book value for each year under the Double Declining balance method Accum. depr. end of Yr. 2:$18,750
QS 10-6 Double-declining-balance method LO P1 A fleet of refrigerated delivery trucks is acquired on January...
QS 10-6 Double-declining-balance method LO P1 A fleet of refrigerated delivery trucks is acquired on January 5, 2017, at a cost of $830,000 with an estimated useful life of eight years and an estimated salvage value of $75,000. Compute the depreciation expense for the first three years using the double-declining-balance method. (Round your answers to the nearest dollar.) Depreciation for the Period End of Period Beginning of Period Book Value Depreciation Rate (%) Annual Period Depreciation Expense Accumulated Book Value...
How do I use the double-declining-balance method, a time-based method, to calculate the depreciation expense for...
How do I use the double-declining-balance method, a time-based
method, to calculate the depreciation expense for Asset A in year
2017?
Depreciation Methods Vorst Corporation's schedule of depreciable assets at December 31, 2016, was as follows: Asset Cost Accumulated Acquisition Residual Depreciation Date Value $ 64,000 2015 $20,000 36,000 2014 10,000 A $100,000 B 55,000 с 70,000 33,600 2014 14,000 $225,000 $133,600 $44,000 Vorst takes a full year's depreciation expense in the year of an asset's acquisition and no depreciation...
QS 8-6 Double-declining-balance method LO P1 A fleet of refrigerated delivery trucks is acquired on January 5, 2015, at...
QS 8-6 Double-declining-balance method LO P1 A fleet of refrigerated delivery trucks is acquired on January 5, 2015, at a cost of $930,000 with an estimated useful life of 8 years and an estimated salvage value of $83,700. Compute the depreciation expense for the first 3 years using the double-declining-balance method. (Round your answers to the nearest dollar.) End of Period Depreciation for the Period Beginning of Depreciation Depreciation Period Book Value Rate (%) Expense Annual Period Accumulated Depreciation Book...
PART B) Compute 2020 depreciation expense using the double-declining-balance method, assuming the machinery was purchased on...
PART B) Compute 2020 depreciation expense
using the double-declining-balance method, assuming the machinery
was purchased on October 1, 2020.
Wildhorse Company purchased machinery on January 1, 2020, for $94,400. The machinery is estimated to have a salvage value of $9,440 after a useful life of 8 years. (a) Compute 2020 depreciation expense using the double-declining-balance method. Depreciation expense $
Use the following information for the Exercises below. The following information applies to the questions displayed...
Use the following information for the Exercises below. The following information applies to the questions displayed below.) Ramirez Company installs a computerized manufacturing machine in its factory at the beginning of the year at a cost of $81,400. The machine's useful life is estimated at 20 years, or 387,000 units of product, with a $4,000 salvage value. During its second year, the machine produces 32,700 units of product. Exercise 8-6 Double-declining-balance depreciation LO P1 Determine the machine's second-year depreciation using...
Depreciation Expense Using the Double-Declining Balance Method The Peete Company purchased an office building for $4,500,000....
Depreciation Expense Using the Double-Declining Balance Method The Peete Company purchased an office building for $4,500,000. The building had an estimated useful life of 25 years and an expected salvage value of $500,000. Calculate the depreciation expense for the second year using the double-declining balance method. $
107. Porter Company purchased equipment for $450,000 on January 1, 2007, and will use the double-declining-balance...
107. Porter Company purchased equipment for $450,000 on January 1, 2007, and will use the double-declining-balance method of depreciation. It is estimated that the equipment will have a 3-year life and a $20,000 salvage value at the end of its useful life. The amount of depreciation expense recognized in the year 2009 will be a. $50,000. b. $30,000. c. $54,440. d. $34,440. 108. A plant asset was purchased on January 1 for $50,000 with an estimated salvage value of $10,000...
Use the following information to complete the deprecation schedule below using the Straight Line method of depreciation: An asset was purchased on Jan. 1 2017 at a cost of $60,000. The asset has a salvage value of $4,000 and an estimated life of 8 years. wwwwww VAR Year Annual Depreciation Book Value 60,000 on AWN
use the following information to complete the depreciation
schedule below using the units of production method of
depreciation.
A machine was purchased on Jan. 1, 2017 for a cost of $60,000. It
has a salvage value of $4,000 and is expected to produce 130,000
units during its useful life.
Year 1 - a machine produced 12,000 units.
Year 2 - a machine produced 16,000 units.
Year 3 - a machine produced 11,000 units.
Round you depreciable rate to the nearest...
QS 10-6 Double-declining-balance method LO P1 A fleet of refrigerated delivery trucks is acquired on January 5, 2017, at a cost of $830,000 with an estimated useful life of eight years and an estimated salvage value of $75,000. Compute the depreciation expense for the first three years using the double-declining-balance method. (Round your answers to the nearest dollar.) Depreciation for the Period End of Period Beginning of Period Book Value Depreciation Rate (%) Annual Period Depreciation Expense Accumulated Book Value...
How do I use the double-declining-balance method, a time-based
method, to calculate the depreciation expense for Asset A in year
2017?
Depreciation Methods Vorst Corporation's schedule of depreciable assets at December 31, 2016, was as follows: Asset Cost Accumulated Acquisition Residual Depreciation Date Value $ 64,000 2015 $20,000 36,000 2014 10,000 A $100,000 B 55,000 с 70,000 33,600 2014 14,000 $225,000 $133,600 $44,000 Vorst takes a full year's depreciation expense in the year of an asset's acquisition and no depreciation...
QS 8-6 Double-declining-balance method LO P1 A fleet of refrigerated delivery trucks is acquired on January 5, 2015, at a cost of $930,000 with an estimated useful life of 8 years and an estimated salvage value of $83,700. Compute the depreciation expense for the first 3 years using the double-declining-balance method. (Round your answers to the nearest dollar.) End of Period Depreciation for the Period Beginning of Depreciation Depreciation Period Book Value Rate (%) Expense Annual Period Accumulated Depreciation Book...
PART B) Compute 2020 depreciation expense
using the double-declining-balance method, assuming the machinery
was purchased on October 1, 2020.
Wildhorse Company purchased machinery on January 1, 2020, for $94,400. The machinery is estimated to have a salvage value of $9,440 after a useful life of 8 years. (a) Compute 2020 depreciation expense using the double-declining-balance method. Depreciation expense $
Use the following information for the Exercises below. The following information applies to the questions displayed below.) Ramirez Company installs a computerized manufacturing machine in its factory at the beginning of the year at a cost of $81,400. The machine's useful life is estimated at 20 years, or 387,000 units of product, with a $4,000 salvage value. During its second year, the machine produces 32,700 units of product. Exercise 8-6 Double-declining-balance depreciation LO P1 Determine the machine's second-year depreciation using...
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