Homework Answers
Depreciation under Double declining balance method = (Cost - Accumulated depreciation) / Useful life * 2
Depreciation for 2020 = ($66,400 - $0) / 8 * 2 * 6 / 12 = $8,300
Depreciation for 2021 = ($66,400 - $8,300) / 8 * 2 = $14,525
The answer is $14,525
Add Answer to:
Question 14 Swifty Corporation purchased a machine for $66400 on July 1, 2020. The company intends...
Question 4 Sheridan Company purchased a machine for $65400 on July 1, 2020. The company intends...
Question 4 Sheridan Company purchased a machine for $65400 on July 1, 2020. The company intends to depreciate it over 8 years using the double-declining balance method. Salvage value is $5200. Depreciation for 2020 to the closest dollar is $8175 0 $32700 O $14306 O $16350
Question 4 Sheridan Company purchased a machine for $65400 on July 1, 2020. The company intends to depreciate it over 8...
Question 4 Sheridan Company purchased a machine for $65400 on July 1, 2020. The company intends to depreciate it over 8 years using the double-declining balance method. Salvage value is $5200. Depreciation for 2020 to the closest dollar is $8175 0 $32700 O $14306 O $16350
slotkin products purchased a machine for $65,000 on 1 July 2020. The company intends to depreciate...
slotkin products purchased a machine for $65,000 on 1 July 2020. The company intends to depreciate it over 8 years using the double-declining balance method. Salvage value is $5,000. 1. Calculate depreciation expense for 2020. 2. Prepare journal entry to record the sale of the machine 31 December 2021 for $50,000.
Slotkin Products purchased a machine for $39,000 on July 1, 2014. The company intends to depreciate...
Slotkin Products purchased a machine for $39,000 on July 1, 2014. The company intends to depreciate it over 8 years using the double-declining balance method. Salvage value is $3,000. Depreciation for 2015 to the closest dollar is
need help please Question 15 Pearl Kremer purchased a computer for 59,120 on July 1, 2020....
need help please
Question 15 Pearl Kremer purchased a computer for 59,120 on July 1, 2020. She intends to depres s using the double declinangalance method Salvage values 51,140. Compute depreciation for 2021 Depreciation for 2021 Click if you would like to show Work for this questioni One Show wock
Page < 2 > 0f40 7. Slotkin Products purchased a machine for $65,000 on July 1,...
Page < 2 > 0f40 7. Slotkin Products purchased a machine for $65,000 on July 1, 2017. The company intends to depreciate it over 8 years using the double-declining balance method. Salvage value is $5,000. Depreciation for 2018 to the closest dollar is A) $32,500 B) $8,125 C) $14,219 D) $12,500
Swifty Corporation purchased a new machine for its assembly process on August 1, 2020. The cost of this machine was $125...
Swifty Corporation purchased a new machine for its assembly process on August 1, 2020. The cost of this machine was $125,100. The company estimated that the machine would have a salvage value of $17,100 at the end of its service life. Its life is estimated at 5 years, and its working hours are estimated at 20,000 hours. Year-end is December 31. Compute the depreciation expense under the following methods. (c) Sum-of-the-years'-digits for 2021 (d) Double-declining-balance for 2021
On July 1, 2020, Swifty Company purchased for $6,120,000 snow-making equipment having an estimated useful life...
On July 1, 2020, Swifty Company purchased for $6,120,000 snow-making equipment having an estimated useful life of 5 years with an estimated salvage value of $255,000. Depreciation is taken for the portion of the year the asset is used. Complete the form below by determining the depreciation expense and year-end book values for 2020 and 2021 using the 1. sum-of-the-years'-digits method. 2. double-declining balance method. 2020 2021 Sum-of-the-Years'-Digits Method Equipment Less: Accumulated Depreciation $6,120,000 $6,120,000 Year-End Book Value $6,120,000 $6,120,000...
Exercise 10 06 a c (Part Level Submission) Whispering Winds company purchased a new machine on...
Exercise 10 06 a c (Part Level Submission) Whispering Winds company purchased a new machine on October 1, 2020, at a cost of $110,200. The company estimated that the machine will have machine is expected to be used for 10,000 working hours during its 5-year life. 2 Your answer is correct Compute the depreciation expense under straight line method for 2020. (Round answer to decimal places... 2.125.) Depreciation expense 5000 vacing this son ince you learn while you can points...
JJ Corporation purchased a machine on July 1, 20x0 for $750,000. The machine was estimated to...
JJ Corporation purchased a machine on July 1, 20x0 for $750,000. The machine was estimated to have a useful life of 10 years with a salvage value of $46,000. JJ uses the sum-of-years-digits method to depreciate this class of equipment. During 20x3, it became apparent that the machine would become uneconomical to operate after December 31, 20x6, and that the machine would have no salvage value. What amount should be reported for Depreciation Expense as of December 31, 20x3 I...
Question 4 Sheridan Company purchased a machine for $65400 on July 1, 2020. The company intends to depreciate it over 8 years using the double-declining balance method. Salvage value is $5200. Depreciation for 2020 to the closest dollar is $8175 0 $32700 O $14306 O $16350
Question 4 Sheridan Company purchased a machine for $65400 on July 1, 2020. The company intends to depreciate it over 8 years using the double-declining balance method. Salvage value is $5200. Depreciation for 2020 to the closest dollar is $8175 0 $32700 O $14306 O $16350
need help please
Question 15 Pearl Kremer purchased a computer for 59,120 on July 1, 2020. She intends to depres s using the double declinangalance method Salvage values 51,140. Compute depreciation for 2021 Depreciation for 2021 Click if you would like to show Work for this questioni One Show wock
Page < 2 > 0f40 7. Slotkin Products purchased a machine for $65,000 on July 1, 2017. The company intends to depreciate it over 8 years using the double-declining balance method. Salvage value is $5,000. Depreciation for 2018 to the closest dollar is A) $32,500 B) $8,125 C) $14,219 D) $12,500
On July 1, 2020, Swifty Company purchased for $6,120,000 snow-making equipment having an estimated useful life of 5 years with an estimated salvage value of $255,000. Depreciation is taken for the portion of the year the asset is used. Complete the form below by determining the depreciation expense and year-end book values for 2020 and 2021 using the 1. sum-of-the-years'-digits method. 2. double-declining balance method. 2020 2021 Sum-of-the-Years'-Digits Method Equipment Less: Accumulated Depreciation $6,120,000 $6,120,000 Year-End Book Value $6,120,000 $6,120,000...
Exercise 10 06 a c (Part Level Submission) Whispering Winds company purchased a new machine on October 1, 2020, at a cost of $110,200. The company estimated that the machine will have machine is expected to be used for 10,000 working hours during its 5-year life. 2 Your answer is correct Compute the depreciation expense under straight line method for 2020. (Round answer to decimal places... 2.125.) Depreciation expense 5000 vacing this son ince you learn while you can points...
Most questions answered within 3 hours.
-
What are two strengths and two weaknesses of hardware,
software, and/or data?
How can the weaknesses...
asked 3 minutes ago -
A and B face the choice of working in a safe
mine at €200/wk or an...
asked 23 minutes ago -
True or false: couldnt figure out these few
- When charges are only located OUTSIDE an...
asked 31 minutes ago -
Given the following function:
int fun1(int count){
int Num ;
for (i = 0; i <...
asked 32 minutes ago -
Please submit your paper topic so that I can review it and make
any necessary suggestions...
asked 32 minutes ago -
Why are there so many theories of addiction? (Consider the
adequacy of each theory in relation...
asked 36 minutes ago -
22mL of 0.1020M Naoh is used in a titration against an unknown
1M acid (30mL). Determine...
asked 44 minutes ago -
Solve for distance using 90 db = 85 db + 20 log (20 ft/
distance)
1.8...
asked 46 minutes ago -
Aluminum is cast in an insulating ceramic mold with no
superheat. The thickness of the casting...
asked 1 hour ago -
Discuss the current status of Ulmus americana and the reasons for
it status. (answer in detail...
asked 1 hour ago -
Q3. A car moves with a constant velocity of 25m/s east with
respect to a person...
asked 1 hour ago -
If a bond currently sold at $865 with a yield to maturity of 8%
and a...
asked 1 hour ago