2 a) First year depreaciation on straight Line Method = Cost of the Crane/Life of the Crane = $176000/4 = $44000
b) on crane using the unit of production basis = Cost of Crane/Total Lifts * Lifts used by the crane in first year =$176000/800000*80000=$17600
c) First year depreaciation on double declining balance Method = Cost of the Crane/Life of the Crane*2 = $176000/4 *2= $88000
can someone please help me s Tebl. 100 pis possible 2. On January 1. Clayton Cranes...
2. On January 1, Clayton Cranes purchased a crane for $190,000. Clayton expects the crane to remain useful for ten years (1,200,000 lifts) and to have a residual value of $10,000. The company expects the crane to be used for 160,000 lifts the first year. Read the requirements. a. Compute the first-year depreciation expense on the crane using the straight-line method. Begin by selecting the formula to calculate the company's first-year depreciation on the crane using the straight-line method. Then...
is this correct? please help
with part c.
2. On January 1, Clayton Cranes purchased a crane for $190,000. Clayton expects the crane to remain useful for ten years (1,200,000 lifts) and t have a residual value of $10,000. The company expects the crane to be used for 160,000 lifts the first year. Read the requirements. a. Compute the first-year depreciation expense on the crane using the straight-line method. Begin by selecting the formula to calculate the company's first-year depreciation...
2. On January 1, Clayton Cranes purchased a crane for $190,000. Clayton expects the crane to remain useful for ten years (1,200,000 lifts) and to have a residual value of $10,000. The company expects the crane to be used for 160,000 lifts the first year. Read the requirements. a. Compute the first-year depreciation expense on the crane using the straight-line method Begin by selecting the formula to calculate the company's first-year depreciation on the crane using the straight-line method. Then...
2. On January 1, Clayton Cranes purchased a crane for $182,000. Clayton expects the crane to remain useful for four years (600,000 lifts) and to have a residual value of $50,000. The company expects the crane to be used for 80,000 lifts the first year. Read the requirements. A Requirements a. Compute the first-year depreciation expense on the crane using the straight-line method. Begin by selecting the formula to calculate the company's first-year depreciation on the crane using the straight-line...
2. On January 1, Anderson Cranes purchased a crane for $280,000. Anderson expects the crane to remain useful for eight years (1,200,000 lifts) and to have a residual value of $40,000. The company expects the crane to be used for 160,000 fts the first year. Read the requirements a. Compute the first year depreciation expense on the crane using the straight-line method Begin by selecting the formula to calculate the company's first-year depreciation on the crane using the straight-line method....
super stuck please help
2. On January 1, Brentwood Cranes purchased a crane for $160,000 Brentwood expects the crane to remain useful for five years (1,200,000 lifts) and to have a residual value of $40,000. The company expects the crane to be used for 30.000 hits the first year Read the requirements a. Compute the first year depreciation expense on the crane using the straight line method Begin by selecting the formula to calculate the company's first year depreciation on...
2. On January 1, Inglewood Cranes purchased a crane for $314,000. Inglewood expects the crane to remain useful for eight years (1,200,000 lifts) and to have a residual value of $50,000. The company expects the crane to be used for 100,000 lifts the first year. Read the requirements. c. Compute the first-year and second-year depreciation expense on the crane using the double-declining-balance method. Begin by selecting the formula to calculate the company's first-year and second-year depreciation on the crane using...
On January 1, 2018, Austin Airlines purchased a used airplane for $50,000,000. Austin Airlines expects the plane to remain useful for four years (4,000,000 miles) and to have a residual value of $6,000,000. The company expects the plane to be flown 1,500,000 miles the first year. Read the requirements. Requirement 1a. Compute Austin Airlines's first-year depreciation expense on the plane using the straight-line method. Begin by selecting the formula to calculate the company's first-year depreciation expense on the plane using...
On January 1, 2018, Northeast Airlines purchased a used airplane for $37,500,000. Northeast Airlines expects the plane to remain useful for four years (4,000,000 miles) and to have a residual value of $5,500,000. The company expects the plane to be flown 1,300,000 miles the first year. Read the requirements. Requirement 1a. Compute Northeast Airlines's first-year depreciation expense on the plane using the straight-line method. Begin by selecting the formula to calculate the company's first-year depreciation expense on the plane using...
Please use same format in
response.
On January 1, 2018, Air Asias purchased a used airplane for $54,000,000. Air Asias expects the plane to remain useful for five years (5,000,000 miles) and to have a residual value of $4,000,000. The company expects the plane to be flown 1,100,000 miles the first year. Read the requirements Requirement 1a. Compute Air Aslas's first-year depreciation expense on the plane using the straight-line method. Begin by selecting the formula to calculate the company's first-year...