![4. [25] Your company has purchased and installed a chemical reactor for $200,000 with an expected salvage value of $20,000. This chemical reactor has a useful life of 10 years. Develop a Double Declining Balance depreciation schedule without conversion to straight line. Please show book value at the beginning of each year, and convert the depreciation schedule to half year convention. Please show all of your work.](http://img.homeworklib.com/questions/f4befc00-c2c7-11ea-aece-1dbb4f7f5002.png?x-oss-process=image/resize,w_560)
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4. [25] Your company has purchased and installed a chemical reactor for...
A widget machine your company has just purchased for $120,000 has an expected salvage value of...
A widget machine your company has just purchased for $120,000 has an expected salvage value of $25,000. It has an expected life of 8 years. Develop a sum-of-the-years-digits depreciation schedule with half year convention. Please show book value at the beginning of each year in your depreciation schedule. Remember to show all of your work.
On January 4, 2019, Columbus Company purchased new equipment for $693,000 that had a useful life...
On January 4, 2019, Columbus Company purchased new equipment for
$693,000 that had a useful life of four years and a salvage value
of $53,000.
Required:
Prepare a schedule showing the annual depreciation and end-of-year
accumulated depreciation for the first three years of the asset’s
life under the straight-line method, the sum-of-the-years’-digits
method, and the double-declining-balance method.
Analyze:
If the double-declining balance method is used to compute
depreciation, what would be the book value of the asset at the end...
1. In 2020, Johnson Co purchased a machine used for manufacturing for $1,000,000. This machine had...
1. In 2020, Johnson Co purchased a machine used for manufacturing for $1,000,000. This machine had a useful life of 8 years and had a salvage value of $50,000. Johnson uses the half-year convention. Prepare a schedule showing the depreciation expense, accumulated depreciation, and the Book Value of the asset over its life under the following 2 methods (round all amounts to the nearest dollar): a. Straight-line depreciation I b. Double declining Balance Method (Switch over to straight line depreciation...
Sushi Corp. purchased and installed electronic payment equipment at its drive-in restaurants in San Marcos, TX,...
Sushi Corp. purchased and installed electronic payment equipment at its drive-in restaurants in San Marcos, TX, at a cost of $45,900. The equipment has an estimated residual value of $3,600. The equipment is expected to process 269,000 payments over its three- year useful life. Per year, expected payment transactions are 64,560. year 1; 147,950. year 2; and 56,490. year 3. Required: Complete a depreciation schedule for each of the alternative methods. 1. Straight-line. 2. Units-of-production. 3. Double-declining-balance. Complete this question...
Sonic Corporation purchased and installed electronic payment equipment at its drive-in restaurants in San Marcos, TX,...
Sonic Corporation purchased and installed electronic payment equipment at its drive-in restaurants in San Marcos, TX, at a cost of $27,000. The equipment has an estimated residual value of $1,500. The equipment is expected to process 255,000 payments over its three-year useful life. Per year, expected payment transactions are 61,200, year 1; 140,250, year 2; and 53,550, year 3. 0.49 Required: Complete a depreciation schedule for each of the alternative methods. polnts Skipped 1. Straight-line. 2. Units-of-production. 3. Double-declining-balance. еВook...
Sushi Corp. purchased and installed electronic payment equipment at its drive-in restaurants in San Marcos, TX, at a co...
Sushi Corp. purchased and installed electronic payment equipment at its drive-in restaurants in San Marcos, TX, at a cost of $21,600. The equipment has an estimated residual value of $1,200. The equipment is expected to process 256,000 payments over its three-year useful life. Per year, expected payment transactions are 61,440, year 1; 140,800, year 2; and 53,760, year 3. Required: Complete a depreciation schedule for each of the alternative methods. 1. Straight-line. 2. Units-of-production. 3. Double-declining-balance. Complete a depreciation schedule...
Use the MACRS 5-year schedule to determine the maximum yearly depreciation allowance for a piece of...
Use the MACRS 5-year schedule to determine the maximum yearly depreciation allowance for a piece of equipment that has an original value of $ 130,000, including double declining balance switching to straight-line method with half-year convention. Please show all your calculations, and then list the results in a table.
Freedom Co. purchased a new machine on July 2, 2019, at a total installed cost of $40,000. The machine has an estimated...
Freedom Co. purchased a new machine on July 2, 2019, at a total installed cost of $40,000. The machine has an estimated life of five years and an estimated salvage value of $6,700. Required: Calculate the depreciation expense for each year of the asset's life using: Straight-line depreciation. Double-declining-balance depreciation. How much depreciation expense should be recorded by Freedom Co. for its fiscal year ended December 31, 2019, under each method? (Note: The machine will have been used for one-half...
Sushi Corp purchased and installed electronic payment equipment at its drive-in restaurants in San Marcos, TX,...
Sushi Corp purchased and installed electronic payment equipment at its drive-in restaurants in San Marcos, TX, at a cost of $56.700 The equipment has an estimated residual value of $3,000. The equipment is expected to process 264,000 payments over its three year useful life. Per year, expected payment transactions are 63,360, year 1:145,200 year 2 and 55,440 year 3 Required: Complete a depreciation schedule for each of the alternative methods 1. Straight-line 2. Units-of-production 3. Double-declining balance. Complete this question...
Sushi Corp. purchased and installed electronic payment equipment at its drive-In restaurants in San Marcos, TX,...
Sushi Corp. purchased and installed electronic payment equipment at its drive-In restaurants in San Marcos, TX, at a cost of $40,500. The equipment has an estimated residual value of $2,400. The equipment is expected to process 270,000 payments over its three- year useful life. Per year, expected payment transactions are 64,800, year 1; 148,500, year 2; and 56,700, year 3. Required: Complete a depreciation schedule for each of the alternative methods. 1. Straight-line. 2. Units-of-production. 3. Double-declining-balance. Complete this question...
On January 4, 2019, Columbus Company purchased new equipment for
$693,000 that had a useful life of four years and a salvage value
of $53,000.
Required:
Prepare a schedule showing the annual depreciation and end-of-year
accumulated depreciation for the first three years of the asset’s
life under the straight-line method, the sum-of-the-years’-digits
method, and the double-declining-balance method.
Analyze:
If the double-declining balance method is used to compute
depreciation, what would be the book value of the asset at the end...
1. In 2020, Johnson Co purchased a machine used for manufacturing for $1,000,000. This machine had a useful life of 8 years and had a salvage value of $50,000. Johnson uses the half-year convention. Prepare a schedule showing the depreciation expense, accumulated depreciation, and the Book Value of the asset over its life under the following 2 methods (round all amounts to the nearest dollar): a. Straight-line depreciation I b. Double declining Balance Method (Switch over to straight line depreciation...
Sushi Corp. purchased and installed electronic payment equipment at its drive-in restaurants in San Marcos, TX, at a cost of $45,900. The equipment has an estimated residual value of $3,600. The equipment is expected to process 269,000 payments over its three- year useful life. Per year, expected payment transactions are 64,560. year 1; 147,950. year 2; and 56,490. year 3. Required: Complete a depreciation schedule for each of the alternative methods. 1. Straight-line. 2. Units-of-production. 3. Double-declining-balance. Complete this question...
Sonic Corporation purchased and installed electronic payment equipment at its drive-in restaurants in San Marcos, TX, at a cost of $27,000. The equipment has an estimated residual value of $1,500. The equipment is expected to process 255,000 payments over its three-year useful life. Per year, expected payment transactions are 61,200, year 1; 140,250, year 2; and 53,550, year 3. 0.49 Required: Complete a depreciation schedule for each of the alternative methods. polnts Skipped 1. Straight-line. 2. Units-of-production. 3. Double-declining-balance. еВook...
Sushi Corp. purchased and installed electronic payment equipment at its drive-in restaurants in San Marcos, TX, at a cost of $21,600. The equipment has an estimated residual value of $1,200. The equipment is expected to process 256,000 payments over its three-year useful life. Per year, expected payment transactions are 61,440, year 1; 140,800, year 2; and 53,760, year 3. Required: Complete a depreciation schedule for each of the alternative methods. 1. Straight-line. 2. Units-of-production. 3. Double-declining-balance. Complete a depreciation schedule...
Sushi Corp purchased and installed electronic payment equipment at its drive-in restaurants in San Marcos, TX, at a cost of $56.700 The equipment has an estimated residual value of $3,000. The equipment is expected to process 264,000 payments over its three year useful life. Per year, expected payment transactions are 63,360, year 1:145,200 year 2 and 55,440 year 3 Required: Complete a depreciation schedule for each of the alternative methods 1. Straight-line 2. Units-of-production 3. Double-declining balance. Complete this question...
Sushi Corp. purchased and installed electronic payment equipment at its drive-In restaurants in San Marcos, TX, at a cost of $40,500. The equipment has an estimated residual value of $2,400. The equipment is expected to process 270,000 payments over its three- year useful life. Per year, expected payment transactions are 64,800, year 1; 148,500, year 2; and 56,700, year 3. Required: Complete a depreciation schedule for each of the alternative methods. 1. Straight-line. 2. Units-of-production. 3. Double-declining-balance. Complete this question...
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