Homework Answers
Purchase price of the machine = $ 33600
Estimated life = 6 years
Residual Value of the machine = $ 4800
Under Straight Line Method,
Annual Deprreciation = $ (33600 - 4800) / 6 = $ 4800
Book Value at the end of 3 year = $ 33600 - ($ 4800 * 3) = $ 19200
Torge Company bought a machine for $99,000 cash. The estimated useful life was five years and...
Torge Company bought a machine for $99,000 cash. The estimated useful life was five years and the estimated residual value was $6,000. Assume that the estimated useful life in productive units is 201,000. Units actually produced were 53,600 in year 1 and 60,300 in year 2 Required: 1. Determine the appropriate amounts to complete the following schedule. (Do not round intermediate calculations.) Depreciation Expense for Book Value at the End of Method of Depreciation Year 2 Year 2 Year 1...
Schrade Company bought a machine for $98,000 cash. The estimated useful life was four years, and...
Schrade Company bought a machine for $98,000 cash. The estimated useful life was four years, and the estimated residual value was $6,040. Assume that the estimated useful life in productive units is 121,000. Units actually produced were 44,000 in year 1 and 46,000 in year 2 value: Required information 10.00 points Required: 1. Determine the appropriate amounts to complete the following schedule. (Round your answers to the nearest dollar amount. Do not round intermediate calculations.) Depreciation Expense for Year 1...
Assume Organic Ice Cream Company, Inc., bought a new ice cream production kit (pasteurizer/homogenizer, cooler, aging...
Assume Organic Ice Cream Company, Inc., bought a new ice cream production kit (pasteurizer/homogenizer, cooler, aging vat, freezer, and filling machine) at the beginning of the year at a cost of $12,000. The estimated useful life was four years, and the residual value was $960. Assume that the estimated productive life of the machine was 9,200 hours. Actual annual usage was 3,680 hours in Year 1; 2,760 hours in Year 2; 1,840 hours in Year 3, and 920 hours in...
I am so confused know I need to subtract the 43500 from 5000 which gives me about 38000 then divide but the great idk...
I am so confused know I need to subtract the 43500 from 5000
which gives me about 38000 then divide but the great idk
Use the Tollowing intormation 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 $13,500. The machine's useful life is estimated at 10 years, or 385,000 units of product, with a $5,000 salvage...
Required information (The following information applies to the questions displayed below.) Schrade Company bought a machine...
Required information (The following information applies to the questions displayed below.) Schrade Company bought a machine for $96,000 cash. The estimated useful life was four years and the estimated residual value was $6,000. Assume that the estimated useful life in productive units is 120,000. Units actually produced were 43,000 in Year 1 and 45,000 in Year 2. Required: 1. Determine the appropriate amounts to complete the following schedule. (Do not round your intermediate calculations.) Depreciation Expense for Year 1 Year...
Please help me. I need help with these questions in Accounting. Thank you. Required information CC9-1...
Please help me. I need help with these questions in Accounting.
Thank you.
Required information CC9-1 Accounting for the Use and Disposal of Long-Lived Assets [LO 9-3, LO 9-5] [The following information applies to the questions displayed below.) Nicole's Getaway Spa (NGS) purchased a hydrotherapy tub system to add to the wellness programs at NGS. The machine was purchased at the beginning of the year at a cost of $13,500. The estimated useful life was five years and the residual...
hi please help me with this i think i got it all wrong. Xy2 Company purchased...
hi please help me with this i think i got it all wrong.
Xy2 Company purchased a new machine to be used in their factory. The cost of the machine was $48,450. In addition, the following expenses were incurred: sales tax of 8%, a foundation on which to mount the machine $36 installation S280 and lunch for the installation crew $56. The used 2,200 hours in the first year, 1,950 and 2,020 hours in years two and three respectively. 1....
Assume Organic Ice Cream Company, Inc., bought a new ice cream production kit (pasteurizer/homogenizer, cooler, aging...
Assume Organic Ice Cream Company, Inc., bought a new ice cream production kit (pasteurizer/homogenizer, cooler, aging vat, freezer, and filling machine) at the beginning of the year at a cost of $20,000. The estimated useful life was four years, and the residual value was $2.180. Assume that the estimated productive life of the machine was 9,900 hours. Actual annual usage was 3,960 hours in Year 1; 2,970 hours in Year 2; 1,980 hours in Year 3; and 990 hours in...
Shining Cookie Company, Inc., in Murfreesboro, TN bought a new ice cream maker at the beginning...
Shining Cookie Company, Inc., in Murfreesboro, TN bought a new ice cream maker at the beginning of the year at a cost of $14,000. The estimated useful life was four years, and the residual value was $980. Assume that the estimated productive life of the machine was 9,300 hours. Actual annual usage was 3,720 hours in year 1; 2,790 hours in year 2; 1,860 hours in year 3; and 930 hours in year 4. Required: 1. Complete a separate depreciation...
i need help with this question Ramirez Company installs a computerized manufacturing machine in its factory...
i
need help with this question
Ramirez Company installs a computerized manufacturing machine in its factory at the beginning of the year at a cost of $44,200. The machine's useful life is estimated at 10 years, or 392,000 units of product, with a $5,000 salvage value. During its second year, the machine produces 33,200 units of product. Exercise 8-4 Straight-line depreciation LO P1 Determine the machine's second-year depreciation and year end book value under the straight-line method. Straight Line Depreciation...
Torge Company bought a machine for $99,000 cash. The estimated useful life was five years and the estimated residual value was $6,000. Assume that the estimated useful life in productive units is 201,000. Units actually produced were 53,600 in year 1 and 60,300 in year 2 Required: 1. Determine the appropriate amounts to complete the following schedule. (Do not round intermediate calculations.) Depreciation Expense for Book Value at the End of Method of Depreciation Year 2 Year 2 Year 1...
Schrade Company bought a machine for $98,000 cash. The estimated useful life was four years, and the estimated residual value was $6,040. Assume that the estimated useful life in productive units is 121,000. Units actually produced were 44,000 in year 1 and 46,000 in year 2 value: Required information 10.00 points Required: 1. Determine the appropriate amounts to complete the following schedule. (Round your answers to the nearest dollar amount. Do not round intermediate calculations.) Depreciation Expense for Year 1...
Assume Organic Ice Cream Company, Inc., bought a new ice cream production kit (pasteurizer/homogenizer, cooler, aging vat, freezer, and filling machine) at the beginning of the year at a cost of $12,000. The estimated useful life was four years, and the residual value was $960. Assume that the estimated productive life of the machine was 9,200 hours. Actual annual usage was 3,680 hours in Year 1; 2,760 hours in Year 2; 1,840 hours in Year 3, and 920 hours in...
I am so confused know I need to subtract the 43500 from 5000
which gives me about 38000 then divide but the great idk
Use the Tollowing intormation 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 $13,500. The machine's useful life is estimated at 10 years, or 385,000 units of product, with a $5,000 salvage...
Required information (The following information applies to the questions displayed below.) Schrade Company bought a machine for $96,000 cash. The estimated useful life was four years and the estimated residual value was $6,000. Assume that the estimated useful life in productive units is 120,000. Units actually produced were 43,000 in Year 1 and 45,000 in Year 2. Required: 1. Determine the appropriate amounts to complete the following schedule. (Do not round your intermediate calculations.) Depreciation Expense for Year 1 Year...
Please help me. I need help with these questions in Accounting.
Thank you.
Required information CC9-1 Accounting for the Use and Disposal of Long-Lived Assets [LO 9-3, LO 9-5] [The following information applies to the questions displayed below.) Nicole's Getaway Spa (NGS) purchased a hydrotherapy tub system to add to the wellness programs at NGS. The machine was purchased at the beginning of the year at a cost of $13,500. The estimated useful life was five years and the residual...
hi please help me with this i think i got it all wrong.
Xy2 Company purchased a new machine to be used in their factory. The cost of the machine was $48,450. In addition, the following expenses were incurred: sales tax of 8%, a foundation on which to mount the machine $36 installation S280 and lunch for the installation crew $56. The used 2,200 hours in the first year, 1,950 and 2,020 hours in years two and three respectively. 1....
Assume Organic Ice Cream Company, Inc., bought a new ice cream production kit (pasteurizer/homogenizer, cooler, aging vat, freezer, and filling machine) at the beginning of the year at a cost of $20,000. The estimated useful life was four years, and the residual value was $2.180. Assume that the estimated productive life of the machine was 9,900 hours. Actual annual usage was 3,960 hours in Year 1; 2,970 hours in Year 2; 1,980 hours in Year 3; and 990 hours in...
Shining Cookie Company, Inc., in Murfreesboro, TN bought a new ice cream maker at the beginning of the year at a cost of $14,000. The estimated useful life was four years, and the residual value was $980. Assume that the estimated productive life of the machine was 9,300 hours. Actual annual usage was 3,720 hours in year 1; 2,790 hours in year 2; 1,860 hours in year 3; and 930 hours in year 4. Required: 1. Complete a separate depreciation...
i
need help with this question
Ramirez Company installs a computerized manufacturing machine in its factory at the beginning of the year at a cost of $44,200. The machine's useful life is estimated at 10 years, or 392,000 units of product, with a $5,000 salvage value. During its second year, the machine produces 33,200 units of product. Exercise 8-4 Straight-line depreciation LO P1 Determine the machine's second-year depreciation and year end book value under the straight-line method. Straight Line Depreciation...
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