May I get some help with D please
Homework Answers
Answer : Depreciation schedule under sum of years digits method
Formula : sum of year's digits method
Depreciation expense = Depreciable cost × Remaining usefull life of asset ÷ sum of year's digits
| Year | Opening book value | Depreciable amount | Depreciable percentage |
Depreciation expense (Depreciable Amount × Depreciation percentage) |
| 2020 | $37,500 | $36,000 | 14% (5/12 × 5/15) | $5,000 |
| 2021 | $32,500 | $36,000 | 31% (7/12 × 5/15 + 5/12 × 4/15) | $11,000 |
| 2022 | $21,500 | $36,000 | 24% (7/12 × 5/15 + 5/12 × 3/15) | $8,600 |
| 2023 | $12,900 | $36,000 | 17% (7/12 × 3/15 + 5/12 × 2/15) | $6,200 |
| 2024 | $6,700 | $36,000 | 11% (7/12 × 2/15 + 5/12 × 1/15) | $3,800 |
| 2025 | $2,900 | $36,000 | 4% (7/12 × 1/15) | $1400 |
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May I get some help with D please
Computing Partial Period Depreciation under Multiple Depreciation Methods...
Can I get some help with C and D Computing Partial Period Depreciation under Multiple Depreciation...
Can I get some help with C and D
Computing Partial Period Depreciation under Multiple Depreciation Methods To demonstrate the computations involved in several methods of depreciating a fixed asset, the following information is provided. Cost and residual value Estimated service life Acquisition cost $37,500 Years Residual value $1,500 Service hours 30,000 Productive output (units) 72,000 Required Compute the annual depreciation using each of the following methods assuming that the asset was purchased on August 1, 2020. a. Straight-line depreciation:...
Can I get help with A, C, and D. Computing Partial Period Depreciation under Multiple Depreciation...
Can I get help with A, C, and D.
Computing Partial Period Depreciation under Multiple Depreciation Methods To demonstrate the computations involved in several methods of depreciating a fixed asset, the following information is provided. Cost and residual value Estimated service life Acquisition cost $37,500 Years Residual value $1,500 Service hours 30,000 Productive output (units) 72,000 Required Compute the annual depreciation using each of the following methods assuming that the asset was purchased on August 1, 2020. a. Straight-line depreciation:...
Computing Partial Period Depreciation under Multiple Depreciation Methods To demonstrate the computations involved in several methods...
Computing Partial Period Depreciation under Multiple Depreciation Methods To demonstrate the computations involved in several methods of depreciating a fixed asset, the following information is provided. Cost and residual value Estimated service life Acquisition cost $37,500 Years 5 Residual value $1,500 Service hours 30,000 Productive output (units) 72,000 Required Compute the annual depreciation using each of the following methods assuming that the asset was purchased on August 1, 2020. a. Straight-line depreciation: Compute the annual depreciation rate and amount for...
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May i get some help. Computing Depreciation Using Various Depreciation Methods To demonstrate the computations involved...
May i get some help.
Computing Depreciation Using Various Depreciation Methods To demonstrate the computations involved in several methods of depreciating a fixed asset, the following data are used for equipment purchased on January 1, 2020. Cost and residual value Estimated service life: Acquisition cost $10,000 Years 5 Residual value $400 Service hours 8,000 Productive output (units) 19,200 Required Compute annual depreciation using each of the following methods. a. Straight-line depreciation: Compute the depreciation rate and amount for each year....
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On January 1, 2020, SugarBear Company acquired equipment costing $160,000, which will be depreciated on the...
On January 1, 2020, SugarBear Company acquired equipment costing $160,000, which will be depreciated on the assumption that the equipment will be useful for five years and have a residual value of $14,400. The estimated output from this equipment is as follows: 2020-18,000 units; 2021-22,000 units; 2022—30,000 units; 2023– 27,000 units; 2024–15,000 units. The company is now considering possible methods of depreciation for this asset. (a) Calculate what the depreciation expense would be for each year of the asset's life,...
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I just need help on the last two I got wrong
Depreciation and Rate of Return Burrell Company purchased a machine for $58,000 on January 2, 2019. The machine has an estimated service life of 5 years and a zero estimated residual value. The asset earns income before depreciation and income taxes of $29,000 each year. The tax rate is 20%. Required: Compute the rate of return earned (on the average net asset value) by the company each year of...
Need urgent help.... ASAP Seved 15 Brief Exercise 11-3 (Algo) Depreciation methods; partial periods [LO11-2) 57...
Need urgent help.... ASAP
Seved 15 Brief Exercise 11-3 (Algo) Depreciation methods; partial periods [LO11-2) 57 ints On March 31, 2021, Canseco Plumbing Faxtures purchased equipment for $44,000. Residual value at the end of an estimated four-year service life Is expected to be $8,000. The company expects the equipment to operate for 20,000 hours. The equipment operated for 2,900 and 3,700 hours in 2021 and 2022, respectively Skipped Required: a. Calculate depreciation expense for 2021 and 2022 using straight line...
Can I get some help with C and D
Computing Partial Period Depreciation under Multiple Depreciation Methods To demonstrate the computations involved in several methods of depreciating a fixed asset, the following information is provided. Cost and residual value Estimated service life Acquisition cost $37,500 Years Residual value $1,500 Service hours 30,000 Productive output (units) 72,000 Required Compute the annual depreciation using each of the following methods assuming that the asset was purchased on August 1, 2020. a. Straight-line depreciation:...
Can I get help with A, C, and D.
Computing Partial Period Depreciation under Multiple Depreciation Methods To demonstrate the computations involved in several methods of depreciating a fixed asset, the following information is provided. Cost and residual value Estimated service life Acquisition cost $37,500 Years Residual value $1,500 Service hours 30,000 Productive output (units) 72,000 Required Compute the annual depreciation using each of the following methods assuming that the asset was purchased on August 1, 2020. a. Straight-line depreciation:...
Computing Partial Period Depreciation under Multiple Depreciation Methods To demonstrate the computations involved in several methods of depreciating a fixed asset, the following information is provided. Cost and residual value Estimated service life Acquisition cost $37,500 Years 5 Residual value $1,500 Service hours 30,000 Productive output (units) 72,000 Required Compute the annual depreciation using each of the following methods assuming that the asset was purchased on August 1, 2020. a. Straight-line depreciation: Compute the annual depreciation rate and amount for...
Computing Partial Period Depreciation under Multiple Depreciation Methods To demonstrate the computations involved in several methods of depreciating a fixed asset, the following information is provided. Cost and residual value Estimated service life Acquisition cost $18,750 Years Residual value $750 Service hours 15,000 Productive output (units) 36,000 Required Compute the annual depreciation using each of the following methods assuming that the asset was purchased on August 1, 2020. a. Straight-line depreciation: Compute the annual depreciation rate and amount for each...
5 Computing Partial Period Depreciation under Multiple Depreciation Methods To demonstrate the computations involved in several methods of depreciating a fixed asset, the following information is provided. Cost and residual value Estimated service life Acquisition cost $45,000 Years Residual value $1,800 Service hours 36,000 Productive output (units) 86,400 Required Compute the annual depreciation using each of the following methods assuming that the asset was purchased on August 1, 2020. a. Straight-line depreciation: Compute the annual depreciation rate and amount for...
May i get some help.
Computing Depreciation Using Various Depreciation Methods To demonstrate the computations involved in several methods of depreciating a fixed asset, the following data are used for equipment purchased on January 1, 2020. Cost and residual value Estimated service life: Acquisition cost $10,000 Years 5 Residual value $400 Service hours 8,000 Productive output (units) 19,200 Required Compute annual depreciation using each of the following methods. a. Straight-line depreciation: Compute the depreciation rate and amount for each year....
Computing Depreciation Using Various Depreciation Methods To demonstrate the computations involved in several methods depreciating a fixed asset, the following data are used for equipment purchased on January 1, 2020. Cost and residual value Estimated service life: Acquisition cost $7,500 Years 5 Residual value $300 Service hours 6,000 Productive output (units) 14,400 Required Compute annual depreciation using each of the following methods. a. Straight-line depreciation: Compute the depreciation rate and amount for each year. Depreciation Rate 2020 2021 2022 2023...
On January 1, 2020, SugarBear Company acquired equipment costing $160,000, which will be depreciated on the assumption that the equipment will be useful for five years and have a residual value of $14,400. The estimated output from this equipment is as follows: 2020-18,000 units; 2021-22,000 units; 2022—30,000 units; 2023– 27,000 units; 2024–15,000 units. The company is now considering possible methods of depreciation for this asset. (a) Calculate what the depreciation expense would be for each year of the asset's life,...
I just need help on the last two I got wrong
Depreciation and Rate of Return Burrell Company purchased a machine for $58,000 on January 2, 2019. The machine has an estimated service life of 5 years and a zero estimated residual value. The asset earns income before depreciation and income taxes of $29,000 each year. The tax rate is 20%. Required: Compute the rate of return earned (on the average net asset value) by the company each year of...
Need urgent help.... ASAP
Seved 15 Brief Exercise 11-3 (Algo) Depreciation methods; partial periods [LO11-2) 57 ints On March 31, 2021, Canseco Plumbing Faxtures purchased equipment for $44,000. Residual value at the end of an estimated four-year service life Is expected to be $8,000. The company expects the equipment to operate for 20,000 hours. The equipment operated for 2,900 and 3,700 hours in 2021 and 2022, respectively Skipped Required: a. Calculate depreciation expense for 2021 and 2022 using straight line...
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