Sabel Co. purchased assembly equipment for $780,000 on January 1, Year 1.
The equipment is expected to have a useful life of 260,000 miles and a salvage value of $26,000. Actual mileage was as follows:
Year 1 | 72,000 |
Year 2 | 69,000 |
Year 3 | 58,000 |
Year 4 | 49,000 |
Year 5 | 16,000 |
Required
Sabel Co. purchased assembly equipment for $780,000 on January 1, Year 1. The equipment is expected...
Sabel Co. purchased assembly equipment for $836,000 on January 1, Year 1. The equipment is expected to have a useful life of 380,000 miles and a salvage value of $38,000. Actual mileage was as follows: Year 1 104,000 Year 299,000 Year 3 90,000 Year 4 64,000 Year 5 28,000 Required a. Compute the depreciation for each of the five years, assuming the use of units-of-production depreciation. b. Assume that Sepel earns $248,000 of cash revenue during Year 1. Record the...
Sabel Co. purchased assembly equipment for $693,000 on January 1, 2018. Sabel's financial condition immediately prior to the purchase is shown in Required B. The equipment is expected to have a useful life of 330,000 machine hours and a salvage value of $33,000. Actual machine-hour use was as follows: 2018 89,000 2019 85,000 2020 85,000 2021 49,000 2022 23,000 Required a. Compute the depreciation for each of the five years, assuming the use of units-of-production depreciation. b. Assume that Sabel...
Any help wouldnbe aopreciated
Sabel Co. purchased assembly equipment for $464,000 on January 1, 2018. Sabel's financial condition immediately prior to the purchase is shown in Required B. The equipment is expected to have a useful life of 290,000 machine hours and a salvage value of $29,000. Actual machine-hour use was as follows: 2018 2019 2020 2021 2022 75,000 73,000 71,000 55,000 19,000 Required a. Compute the depreciation for each of the five years, assuming the use of units-of-production depreciation....
Sabel Co. purchased assembly equipment for $836,000 on January 1, Year 1. Sabel's financial condition immediately prior to the purchase is shown in Required B. The equipment is expected to have a useful life of 380,000 machine hours and a salvage value of $38,000. Actual machine-hour use was as follows: Year 1 Year 2 Year 3 Year 4 Year 5 104,000 99,000 90,000 64,000 28,000 Required a. Compute the depreciation for the first three years, assuming the use of units-of-production...
ABC Company purchased equipment on January 1, 2009 for $72,000. It was estimated that the equipment would have a $5,000 salvage value at the end of its 5-year useful life. It was also estimated that the equipment would produce 100,000 units over its 5-year life. If the company used the double- declining balance method of depreciation, what was the balance of the Accumulated Depreciation of the equipment at December 31, 2011?
The Dalen Company purchased office equipment that cost $6,300 cash on January 1. The equipment had an estimated five year useful life and an estimated salvage value of $700. The amount of expense shown on the income statement and the amount of cash outflow from operating activities shown on the statement of cash flows at the end of the first year would be assume straight-line depreciation Income Statement $6,3ee $1,120 $1,120 Statement of Cash Flows $6,300 $6,300 $1,120 Multiple Choice...
$6.000 Cutter Enterprises purchased equipment for $72,000 on January 1, 2021. The equipment is expected to have a five-year life and a residual value Using the sum-of-the-years'-digits method, depreciation for 2021 and book value at December 31, 2021, would be: (Do not round depreciation rate per year) $22,000 and $44,000 respectively $22,000 and $50,000 respectively $24,000 and $42.000 respectively $24,000 and $48,000 respectively
On January 1, 2024, Brisk Delivery Service purchased a truck at a cost of . Before placing the truck in service, Brisk spent $3000 painting it, $2,500 replacing tires, and $8,500 overhauling the engine. The truck should remain in service for five years and have a residual value of $10,000. The truck's annual mileage is expected to be 26,000 miles in each of the first four years and miles in the fifth year miles in total. In deciding which depreciation...
Cutter Enterprises purchased equipment for $72,000 on January 1, 2021. The equipment is expected to have a five-year life and a residual value of $6,000 Using the sum-of-the-years-digits method, depreciation for 2022 and book value at December 31, 2022, would be: (Do not round depreciation rate per year) $19200 and $30, 800 respectively $17.600 and $26.400 respectively $17.600 and $32.400 respectively $19.200 and $28 800 respectively
Cutter Enterprises purchased equipment for $72,000 on January 1, 2021. The equipment is expected to have a five-year life and a residual value of $6,000. Using the sum-of-the-years'-digits method, depreciation for 2022 and book value at December 31, 2022, would be: (Do not round depreciation rate per year) Multiple Choice $19,200 and $30,800 respectively. $17,600 and $26,400 respectively. $19,200 and $28,800 respectively. $17,600 and $32,400 respectively.