Cactus Company purchased a new machine on August 1, 2017. At that time, the original cost...
Cactus Company purchased a new machine on August 1, 2017. At that time, the original cost of the machine was recorded at $180,000 with an estimated salvage value of $40,000. Total service hours expected for this machine is 100,000. During 2017, the machine was used for 825 hours. During 2018, the machine was used for 3,115 hours.
What is the amount of depreciation expense recorded by Cactus Company on their year-end 2018 Income Statement?
What is the balance of the Accumulated Depreciation account on Cactus Company's year-end 2018 Balance Sheet?
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Cactus Company purchased a new machine on August 1, 2017. At
that time, the original cost...
Ivanhoe Corporation purchased a new machine for its assembly process on August 1, 2017. The cost...
Ivanhoe Corporation purchased a new machine for its assembly process on August 1, 2017. The cost of this machine was $146,196. The company estimated that the machine would have a salvage value of $15,996 at the end of its service life. Its life is estimated at 5 years, and its working hours are estimated at 21,200 hours. Year-end is December 31 Compute the depredation expense under the following methods. Each of the following should be considered unrelated. (Round depreciation rate...
28. The company estimated that Pharoah Corporation purchased a new machine for its assembly process on August 1, 2017....
28. The company estimated that Pharoah Corporation purchased a new machine for its assembly process on August 1, 2017. The cost of this machine was $ 155,628. The company estimated that the machine would have a salvage value of $17,028 at the end of its service life. Its life is estimated at 5 years, and its working hours are estimated at 19,800 hours. Year-end is December 31. Compute the depreciation expense under the following methods. Each of the following should...
Ivanhoe Company purchased a new machine on October 1, 2017, at a cost of $87,800. The...
Ivanhoe Company purchased a new machine on October 1, 2017, at a cost of $87,800. The company estimated that the machine has a salvage value of $8,800. The machine is expected to be used for 64,200 working hours during its 8-year life. Compute depreciation using the following methods in the year indicated. Declining-balance using double the straight-line rate for 2017 and 2018. (Round answers to o decimal places, e.g. 125) 2017 2018 Depreciation using the Declining-balance method Calculate the depreciation...
Blossom Company purchased a new machine on October 1, 2017, at a cost of $87,200. The...
Blossom Company purchased a new machine on October 1, 2017, at a cost of $87,200. The company estimated that the machine has a salvage value of $7,400. The machi is expected to be used for 69,200 working hours during its 8-year life. Compute depreciation using the following methods in the year indicated. Declining balance using double the straight-line rate for 2017 and 2018. (Round answers to decimal places, e.g. 125) 2017 2018 Depreciation using the Declining balance methods LINK TO...
Wildhorse Co. purchased a new machine on October 1, 2017, at a cost of $88,000. The...
Wildhorse Co. purchased a new machine on October 1, 2017, at a cost of $88,000. The company estimated that the machine has a salvage value of $8,400. The machine is expected to be used for 71,500 working hours during its 8-year life. Compute the depreciation expense under the straight-line method for 2017 and 2018, assuming a December 31 year-end. (Round answers to decimal places, eg. 5,275.) 2017 2018 The depreciation expense under the straight-line method $
MatthewCompany purchased a new machine on October 1, 2017, at a cost of $145,000. The company...
MatthewCompany purchased a new machine on October 1, 2017, at a cost of $145,000. The company estimated that the machine will have a salvage value of $25,000. The machine is expected to be used during its 5-year life. Instructions Compute the depreciation expense under the following methods for the year indicated. (a) Straight-line for 2017. (b) Declining-balance using double the straight-line rate for 2017 and 2018.
Exercise 9-20 Sunland Company purchased a new machine on October 1, 2017, at a cost of...
Exercise 9-20 Sunland Company purchased a new machine on October 1, 2017, at a cost of $86,600. The company estimated that the machine has a salvage value of $8,400. The machine is expected to be used for 65,700 working hours during its 8-year life. Compute depreciation using the following methods in the year indicated. Declinng-balance using double the straight-line rate for 2017 and 2018. (Round answers to 0 decimal places, e.g. 125) 2017 2018 Depreciation using the Declining-balance method s...
Maserati Corporation purchased a new machine for its assembly process on August 1, 2014. The cost...
Maserati Corporation purchased a new machine for its assembly process on August 1, 2014. The cost of this machine was $150,000. The company estimated that the machine would have a salvage value of $24,000 at the end of its service life. Its life is estimated at 5 years and its working hours are estimated at 21,000 hours. Year-end is December 31. Instructions: Compute the depreciation expense under the following methods. (a) Straight-line depreciation. Sum-of-the-Years’-Digits Method Double-Declining Balance Method
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
Jason Inc. Company purchased a new machine on October 1, 2017, at a cost of $143,000....
Jason Inc. Company purchased a new machine on October 1, 2017, at a cost of $143,000. The company estimated that the machine will have a salvage value of $10,500. The machine is expected to be used for 10,600 working hours during its 4-year life. Compute the depreciation expense under straight-line method for 2017. Depreciation expense__________ For 2017.
Ivanhoe Corporation purchased a new machine for its assembly process on August 1, 2017. The cost of this machine was $146,196. The company estimated that the machine would have a salvage value of $15,996 at the end of its service life. Its life is estimated at 5 years, and its working hours are estimated at 21,200 hours. Year-end is December 31 Compute the depredation expense under the following methods. Each of the following should be considered unrelated. (Round depreciation rate...
28. The company estimated that Pharoah Corporation purchased a new machine for its assembly process on August 1, 2017. The cost of this machine was $ 155,628. The company estimated that the machine would have a salvage value of $17,028 at the end of its service life. Its life is estimated at 5 years, and its working hours are estimated at 19,800 hours. Year-end is December 31. Compute the depreciation expense under the following methods. Each of the following should...
Ivanhoe Company purchased a new machine on October 1, 2017, at a cost of $87,800. The company estimated that the machine has a salvage value of $8,800. The machine is expected to be used for 64,200 working hours during its 8-year life. Compute depreciation using the following methods in the year indicated. Declining-balance using double the straight-line rate for 2017 and 2018. (Round answers to o decimal places, e.g. 125) 2017 2018 Depreciation using the Declining-balance method Calculate the depreciation...
Blossom Company purchased a new machine on October 1, 2017, at a cost of $87,200. The company estimated that the machine has a salvage value of $7,400. The machi is expected to be used for 69,200 working hours during its 8-year life. Compute depreciation using the following methods in the year indicated. Declining balance using double the straight-line rate for 2017 and 2018. (Round answers to decimal places, e.g. 125) 2017 2018 Depreciation using the Declining balance methods LINK TO...
Wildhorse Co. purchased a new machine on October 1, 2017, at a cost of $88,000. The company estimated that the machine has a salvage value of $8,400. The machine is expected to be used for 71,500 working hours during its 8-year life. Compute the depreciation expense under the straight-line method for 2017 and 2018, assuming a December 31 year-end. (Round answers to decimal places, eg. 5,275.) 2017 2018 The depreciation expense under the straight-line method $
Exercise 9-20 Sunland Company purchased a new machine on October 1, 2017, at a cost of $86,600. The company estimated that the machine has a salvage value of $8,400. The machine is expected to be used for 65,700 working hours during its 8-year life. Compute depreciation using the following methods in the year indicated. Declinng-balance using double the straight-line rate for 2017 and 2018. (Round answers to 0 decimal places, e.g. 125) 2017 2018 Depreciation using the Declining-balance method s...
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