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On January 1, 2020, THE Company purchased a new machine for $168,000. The machine was assigned...
On January 1, 2020, THE Company purchased a new machine for $136,000. The machine was assigned...
On January 1, 2020, THE Company purchased a new machine for $136,000. The machine was assigned a salvage value of $9,100 and an eight year life. Assume THE Company will depreciate the machine using double-declining balance depreciation. The depreciation expense recorded on the machine shown in the 2022 income statement would be equal to: $15,863 $19,125 $19,552 W $21,150 $24,285 $25.500 none of the above choices are correct
XYZ Company purchased a new machine on January 1, 2021 for $80,000. The machine was assigned...
XYZ Company purchased a new machine on January 1, 2021 for $80,000. The machine was assigned a 10-year life and a $5,000 residual value. XYZ Company will depreciate the machine using the double-declining balance depreciation method. Calculate the amount of accumulated depreciation related to the new machine that would appear in XYZ Company's December 31, 2024 balance sheet.
1.On January 1, 2020, Bramble Corp. purchased a new machine for $4310000. The new machine has...
1.On January 1, 2020, Bramble Corp. purchased a new machine for $4310000. The new machine has an estimated useful life of nine years and the salvage value was estimated to be $143000. Depreciation was computed using the sum-of-the-years'-digits method. What amount should be shown in Bramble's balance sheet at December 31, 2021, net of accumulated depreciation, for this machine? a.$3476600 b.$4167000 c.$2735800 d.$2643200 2. Sheffield Corp. purchased a depreciable asset for $702000 on April 1, 2018. The estimated salvage value...
On January 1, 2017, Oriole Company purchased a new machine for $4220000. The new machine has...
On January 1, 2017, Oriole Company purchased a new machine for $4220000. The new machine has an estimated useful life of nine years and the salvage value was estimated to be $152000. Depreciation was computed using the sum-of-the-years-digits method. What amount should be shown in Oriole's balance sheet at December 31, 2018, net of accumulated depreciation, for this machine?
On January 1,2018, a machine was purchased for $100,000. The machine has an estimated salvage value...
On January 1,2018, a machine was purchased for $100,000. The machine has an estimated salvage value of $5,920 and an estimated useful life of 5 years. The machine can operate for 112,000 hours before it needs to be replaced. The company closed its books on December 31 and operates the machine as follows: 2018, 22,400 hrs; 2019, 28,000 hrs; 2020, 16,800 hrs; 202 1, 33,600 hrs; and 2022, 11,200 hrs. (a) Compute the annual depreciation charges over the machine's life...
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...
Farmer Company purchased machine on January 1, Year 1 for $106,000. The machine is estimated to...
Farmer Company purchased machine on January 1, Year 1 for $106,000. The machine is estimated to have a 5-year life and a salvage value of $15,000. The company uses the straight-line method. 24 At the beginning of Year 4, Farmer revised the expected life to eight years. What is the annual amount of depreciation expense for each of the remaining years in the machine's life? 02:28:24 Print Multiple Choice $7.280 $10,280 $6,425 $4,550 35 On January 1, Year 1, Ballard...
Bramble Company purchased machinery on January 1, 2020, for $91,200. The machinery is estimated to have...
Bramble Company purchased machinery on January 1, 2020, for $91,200. The machinery is estimated to have a salvage value of $9,120 after a useful life of 8 years. Compute 2020 depreciation expense using the sum-of-the-years'-digits method. Depreciation expense $ LINK TO TEXT Compute 2020 depreciation expense using the sum-of-the-years'-digits method, assuming the machinery was purchased on April 1, 2020. (Round answer to 0 decimal places, e.g. 5,125.) Depreciation expense
Archie Co. purchased a framing machine for $55,000 on January 1, 2021. The machine is expected...
Archie Co. purchased a framing machine for $55,000 on January 1, 2021. The machine is expected to have a four-year life, with a residual value of $2,000 at the end of four years. Using the sum-of-the years'-digits method, depreciation for 2022 and book value at December 31, 2022, would be: (Do not round intermediate calculations.) Multiple Choice $16,500 and $16,500 respectively. $16,500 and $14,500 respectively. $15,900 and $17,900 respectively. $15,900 and $15,900 respectively.
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 January 1, 2020, THE Company purchased a new machine for $136,000. The machine was assigned a salvage value of $9,100 and an eight year life. Assume THE Company will depreciate the machine using double-declining balance depreciation. The depreciation expense recorded on the machine shown in the 2022 income statement would be equal to: $15,863 $19,125 $19,552 W $21,150 $24,285 $25.500 none of the above choices are correct
On January 1, 2017, Oriole Company purchased a new machine for $4220000. The new machine has an estimated useful life of nine years and the salvage value was estimated to be $152000. Depreciation was computed using the sum-of-the-years-digits method. What amount should be shown in Oriole's balance sheet at December 31, 2018, net of accumulated depreciation, for this machine?
On January 1,2018, a machine was purchased for $100,000. The machine has an estimated salvage value of $5,920 and an estimated useful life of 5 years. The machine can operate for 112,000 hours before it needs to be replaced. The company closed its books on December 31 and operates the machine as follows: 2018, 22,400 hrs; 2019, 28,000 hrs; 2020, 16,800 hrs; 202 1, 33,600 hrs; and 2022, 11,200 hrs. (a) Compute the annual depreciation charges over the machine's life...
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...
Farmer Company purchased machine on January 1, Year 1 for $106,000. The machine is estimated to have a 5-year life and a salvage value of $15,000. The company uses the straight-line method. 24 At the beginning of Year 4, Farmer revised the expected life to eight years. What is the annual amount of depreciation expense for each of the remaining years in the machine's life? 02:28:24 Print Multiple Choice $7.280 $10,280 $6,425 $4,550 35 On January 1, Year 1, Ballard...
Bramble Company purchased machinery on January 1, 2020, for $91,200. The machinery is estimated to have a salvage value of $9,120 after a useful life of 8 years. Compute 2020 depreciation expense using the sum-of-the-years'-digits method. Depreciation expense $ LINK TO TEXT Compute 2020 depreciation expense using the sum-of-the-years'-digits method, assuming the machinery was purchased on April 1, 2020. (Round answer to 0 decimal places, e.g. 5,125.) Depreciation expense
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