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On January 2, 2018, Archer Company, a skateboard manufacturer, installed a computerized machine in its factory at a cost of $163,800. The machine’s useful life was estimated at four years or a total of 186,400 units with a $24,000 trade-in value. Archer Company’s year-end is December 31.
Calculate depreciation for each year of the machine’s estimated useful life under each of the following methods: (Do not round intermediate calculations.)
Straight-line
Double-declining-balance
Units-of-production, assuming actual units produced were:
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just need DETAILED help with part c. check figures are above the question. really really stuck....
just need DETAILED help with part c. check figures are above
the question. really really stuck.
UITnet MyCampus Library ISC A DOBE CONNECT L. My Home Microsoft Word. Individual Core it on its first trip. It is estimated that the truck has a five year useful life and a residual value of $9,000. Land's End uses the straight line method to depreciate all of its vehicles. Prepare the entry to record the purchase of truck, insurance, and gas, and record...
7. Ramirez Company installs a computerized manufacturing machine in its factory at the beginning of the...
7. Ramirez Company installs a computerized manufacturing machine in its factory at the beginning of the year at a cost of $43,500. The machine’s useful life is estimated at 10 years, or 385,000 units of product, with a $5,000 salvage value. During its second year, the machine produces 32,500 units of product. Required:Determine the machine’s second-year depreciation under the: straight-line units-of-production Assume that the machine was installed on March 1 of the current year. Using the straight-line method of depreciation,...
Ramirez Company installs a computerized manufacturing machine in its factory at the beginning of the year at a cost of $...
Ramirez Company installs a computerized manufacturing machine in its factory at the beginning of the year at a cost of $45,900. The machine's useful life is estimated at 10 years, or 399,000 units of product, with a $6,000 salvage value. During its second year, the machine produces 33,900 units of product. Determine the machine’s second-year depreciation using the double-declining-balance method.
On January 1, 2018, a machine was purchased for $120,000. The machine has an estimated salvage...
On January 1, 2018, a machine was purchased for $120,000. The
machine has an estimated salvage value of $9,600 and an estimated
useful life of 5 years. The machine can operate for 120,000 hours
before it needs to be replaced. The company closed its books on
December 31 and operates the machine as follows: 2018, 24,000 hrs;
2019, 30,000 hrs; 2020, 18,000 hrs; 2021, 36,000 hrs; and 2022,
12,000 hrs.
Compute the annual depreciation charges over the machine’s life
assuming...
II Ramirez Company installs a computerized manufacturing machine in its factory at the beginning of the...
II Ramirez Company installs a computerized manufacturing machine in its factory at the beginning of the year at a cost of $84,200. The machine's useful life is estimated at 10 years, or 386,000 units of product, with a $7,000 salvage value. During its second year, the machine produces 32,600 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 Depreclation Annual Depreciation Expense Choose Numerator: /...
Problem #1 Breton Industries Limited installed a machine on September 5, 2020 that cost $335,000 that...
Problem #1 Breton Industries Limited installed a machine on September 5, 2020 that cost $335,000 that had a useful life of 5 years. The machine has an estimated salvage value at the end of its useful life of $35,000. The company's year-end is December 31. At the time the machine was purchased, it was estimated that the machine could produce 2,000,000 units of product over its useful life. Actual production over the life of the machine was as follows: Year...
1. Straight-Line Depreciation Year Expense 2015 $ 2016 2017 2018 2019 2. Double-declining balance (Round answers...
1. Straight-Line Depreciation Year Expense 2015 $ 2016 2017 2018 2019 2. Double-declining balance (Round answers to the nearest whole number, when appropriate.) Depreciation Year Expense 2015 $ 2016 2017 2018 2019 Depreciation Methods On January 2, 2015, Roth, Inc. purchased a laser cutting machine to be used in the fabrication of a part for one of its key products. The machine cost $125,000, and its estimated useful life was four years or 1,200,000 cuttings, after which it could be...
Depreciation Methods On January 2, 2015, Roth, Inc. purchased a laser cutting machine to be used...
Depreciation Methods On January 2, 2015, Roth, Inc. purchased a laser cutting machine to be used in the fabrication of a part for one of its key products. The machine cost $125,000, and its estimated useful life was four years or 1,200,000 cuttings, after which it could be sold for $5,000. Required a. Calculate each year's depreciation expense for the machine's useful life under each of the following depreciation methods (round all answers to the nearest dollar): 1. Straight-line. 2....
Du page Company purchases a factory machine at a cost of $18000 on Jan. 1st, 2017....
Du page Company purchases a factory machine at a cost of $18000 on Jan. 1st, 2017. Du page expects the machine to have a residual value of $ 2000 at the end of its 4-year useful life. During its useful life, the machine is expected to be used 160000 hours. Actual annual hourly use was 2017, 40000; 2018, 60000; 2019, 35000 and 2020, 25000. Required: 1) Prepare depreciation schedules for the following methods for the first 3 years: a. Straight...
Du page Company purchases a factory machine at a cost of $18000 on Jan. 1st, 2017....
Du page Company purchases a factory machine at a cost of $18000 on Jan. 1st, 2017. Du page expects the machine to have a residual value of $ 2000 at the end of its 4-year useful life. During its useful life, the machine is expected to be used 160000 hours. Actual annual hourly use was 2017, 40000; 2018, 60000; 2019, 35000 and 2020, 25000. Required: 1) Prepare depreciation schedules for the following methods for the first 3 years: a. Straight...
just need DETAILED help with part c. check figures are above
the question. really really stuck.
UITnet MyCampus Library ISC A DOBE CONNECT L. My Home Microsoft Word. Individual Core it on its first trip. It is estimated that the truck has a five year useful life and a residual value of $9,000. Land's End uses the straight line method to depreciate all of its vehicles. Prepare the entry to record the purchase of truck, insurance, and gas, and record...
On January 1, 2018, a machine was purchased for $120,000. The
machine has an estimated salvage value of $9,600 and an estimated
useful life of 5 years. The machine can operate for 120,000 hours
before it needs to be replaced. The company closed its books on
December 31 and operates the machine as follows: 2018, 24,000 hrs;
2019, 30,000 hrs; 2020, 18,000 hrs; 2021, 36,000 hrs; and 2022,
12,000 hrs.
Compute the annual depreciation charges over the machine’s life
assuming...
II Ramirez Company installs a computerized manufacturing machine in its factory at the beginning of the year at a cost of $84,200. The machine's useful life is estimated at 10 years, or 386,000 units of product, with a $7,000 salvage value. During its second year, the machine produces 32,600 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 Depreclation Annual Depreciation Expense Choose Numerator: /...
Problem #1 Breton Industries Limited installed a machine on September 5, 2020 that cost $335,000 that had a useful life of 5 years. The machine has an estimated salvage value at the end of its useful life of $35,000. The company's year-end is December 31. At the time the machine was purchased, it was estimated that the machine could produce 2,000,000 units of product over its useful life. Actual production over the life of the machine was as follows: Year...
1. Straight-Line Depreciation Year Expense 2015 $ 2016 2017 2018 2019 2. Double-declining balance (Round answers to the nearest whole number, when appropriate.) Depreciation Year Expense 2015 $ 2016 2017 2018 2019 Depreciation Methods On January 2, 2015, Roth, Inc. purchased a laser cutting machine to be used in the fabrication of a part for one of its key products. The machine cost $125,000, and its estimated useful life was four years or 1,200,000 cuttings, after which it could be...
Depreciation Methods On January 2, 2015, Roth, Inc. purchased a laser cutting machine to be used in the fabrication of a part for one of its key products. The machine cost $125,000, and its estimated useful life was four years or 1,200,000 cuttings, after which it could be sold for $5,000. Required a. Calculate each year's depreciation expense for the machine's useful life under each of the following depreciation methods (round all answers to the nearest dollar): 1. Straight-line. 2....
Du page Company purchases a factory machine at a cost of $18000 on Jan. 1st, 2017. Du page expects the machine to have a residual value of $ 2000 at the end of its 4-year useful life. During its useful life, the machine is expected to be used 160000 hours. Actual annual hourly use was 2017, 40000; 2018, 60000; 2019, 35000 and 2020, 25000. Required: 1) Prepare depreciation schedules for the following methods for the first 3 years: a. Straight...
Du page Company purchases a factory machine at a cost of $18000 on Jan. 1st, 2017. Du page expects the machine to have a residual value of $ 2000 at the end of its 4-year useful life. During its useful life, the machine is expected to be used 160000 hours. Actual annual hourly use was 2017, 40000; 2018, 60000; 2019, 35000 and 2020, 25000. Required: 1) Prepare depreciation schedules for the following methods for the first 3 years: a. Straight...
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