A three-year-old machine has a cost of $49,000, and estimated residual value of $2,200, and an estimated useful life of 39,000 machine hours. The company uses units-of-production depreciation and ran the machine 4,600 hours in year 1; 6,150 hours in the year 2; and 8,200 hours in year 3.
Calculate the net book value at the end of the third year.
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A three-year-old machine has a cost of $49,000, and estimated residual value of $2,200, and an estimated useful life of 39,000 machine hours. The company uses units-of-production depreciation and ran the machine 4,600 hours in year 1; 6,150 hours in the year 2; and 8,200 hours in year 3.Calculate the net book value at the end of the third year.
a.A three-year-old machine has a cost of $50,000, an estimated residual value of $5,000, and an estimated useful life of five years. The company uses straight-line depreciation.Calculate the net book value at the end of the third year.b.A three-year-old machine has a cost of $37,600, an estimated residual value of $2,600, and an estimated useful life of 35,000 machine hours. The company uses units-of-production depreciation and ran the machine 5,200 hours in year 1; 6,150 hours in year 2; and...
A three-year-old machine has a cost of $26,900, an estimated residual value of $2,900, and an estimated useful life of 40,000 machine hours. The company uses units-of-production depreciation and ran the machine 4,700 hours in year 1; 6,250 hours in year 2; and 8,000 hours in year 3. Calculate the net book value at the end of the third year.
A machine that cost $494,000 has an estimated residual value of $19,000 and an estimated useful life of 19,000 machine hours. The company uses units-of-production depreciation and ran the machine 4,000 hours in year 1, 6,000 hours in year 2, and 6,000 hours in year 3. Calculate its book value at the end of year 3. (Do not round intermediate calculations.) Book Value
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A three-year-old machine has a cost of $56,000, an estimated residual value of $5,100, and an estimated useful life of five years. The company uses double-declining-balance depreciation. Calculate the net book value at the end of each year.
DEPRECIATION METHODS Ten O'Clock, Inc. purchased a vanon Lamar 2018 for SA0000. Estimated life of the van was live years, and its estimated residual value was $90.000. Ten O'Clock uses the straight-line method of depreciation. Prepare the depreciation schedule. Depreciation Expense Book Value at End of Year 2018 2019 2018 2019 Method Straight-line On January 1, 2019, Sapphire Manufacturing Corporation purchased a machine for $10,000,000. The corporation expects to use the machine for 24,000 hours over the next six years....
SportsWorld purchased a machine for $190,000. The machine has a useful life of 8 years and a residual value of $10,000. SportsWorld estimates that the machine could produce 750,000 units of product over its useful life. In the first year, 95,000 units were produced. In the second year, production increased to 111,000 units. Using the units-of-production method, what is the amount of depreciation that should be recorded for the second year? Multiple Choice $49,440 $22,800 $26,640 $36,000 Factor(s) that might...
Solar Innovations Corporation bought a machine at the beginning of the year at a cost of $37,000. The estimated useful life was five years and the residual value was $4,500. Assume that the estimated productive life of the machine is 20,000 units. Expected annual production for year 1, 4,600 units; year 2, 5,600 units; year 3, 4,600 units; year 4, 4,600 units; and year 5, 600 units. Required: 1. Complete a depreciation schedule for each of the alternative methods. (Do...
For each of the following items, select the correct type of expenditure. Transactions Type of Expenditure (1) Purchased a patent, $4,300 cash (2) Paid $10,000 for monthly salaries. (3) Paid cash dividends, $20,000 (4) Purchased a machine, $7,000; gave a long-term note. (5) Paid three-year insurance premium, $900 (6) Paid for routine maintenance, $200, on credit. (7) Paid $400 for ordinary repairs. Paid $6,000 for improvements that lengthened the (8) asset's productive life. (9) Paid $20,000 cash for addition to...