Please answer using formulas and Cell References
Homework Answers
| Straight Line | ||||||
| Date | Cost of asset | Depreciable cost | Useful life | Depreciation expenses | Accumulated Depreciation | Book value |
| Year 1 | $96,000 | $72,000 | 6 Years | $12,000 | $12,000 | $84,000 |
| Year 2 | $96,000 | $72,000 | 6 Years | $12,000 | $24,000 | $72,000 |
| Year 3 | $96,000 | $72,000 | 6 Years | $12,000 | $36,000 | $60,000 |
| Year 4 | $96,000 | $72,000 | 6 Years | $12,000 | $48,000 | $48,000 |
| Year 5 | $96,000 | $72,000 | 6 Years | $12,000 | $60,000 | $36,000 |
| Year 6 | $96,000 | $72,000 | 6 Years | $12,000 | $72,000 | $24,000 |
| Year 3 Adjusting entry | ||||||
| Depreciation expenses | $12,000 | |||||
| Accumulated Depreciation | $12,000 | |||||
| Units of activity | ||||||
| Date | Cost of asset | Depreciation per miles | No. of miles | Depreciation expenses | Accumulated Depreciation | Book value |
| Year 1 | $96,000 | $6.55 | 1000 | $6,545 | $6,545 | $89,455 |
| Year 2 | $96,000 | $6.55 | 1800 | $11,782 | $18,327 | $77,673 |
| Year 3 | $96,000 | $6.55 | 2200 | $14,400 | $32,727 | $63,273 |
| Year 4 | $96,000 | $6.55 | 2400 | $15,709 | $48,436 | $47,564 |
| Year 5 | $96,000 | $6.55 | 2000 | $13,091 | $61,527 | $34,473 |
| Year 6 | $96,000 | $6.55 | 1600 | $10,473 | $72,000 | $24,000 |
| Year 3 Adjusting entry | ||||||
| Depreciation expenses | $14,400 | |||||
| Accumulated Depreciation | $14,400 | |||||
| Double Declining balance | ||||||
| Date | Cost of asset | Book Value | DDB Rate | Depreciation expenses | Accumulated Depreciation | Book value |
| Year 1 | $96,000 | $96,000 | 16.67% | $16,000 | $16,000 | $80,000 |
| Year 2 | $96,000 | $80,000 | 16.67% | $13,333 | $29,333 | $66,667 |
| Year 3 | $96,000 | $66,667 | 16.67% | $11,111 | $40,444 | $55,556 |
| Year 4 | $96,000 | $55,556 | 16.67% | $9,259 | $49,704 | $46,296 |
| Year 5 | $96,000 | $46,296 | 16.67% | $7,716 | $57,420 | $38,580 |
| Year 6 | $96,000 | $38,580 | 16.67% | $6,430 | $63,850 | $32,150 |
| Year 3 Adjusting entry | ||||||
| Depreciation expenses | $11,111 | |||||
| Accumulated Depreciation | $11,111 | |||||
Add Answer to:
Please answer using formulas and Cell References к IZ 13 14 Given Information:* 15 Answers: (a) Straight-Line Depreciati...
IT IS REQUIRED THAT I ENTER FORMULAS! that is what i need help with, not the...
IT
IS REQUIRED THAT I ENTER FORMULAS! that is what i need help with,
not the numerical answers
Jirel Miller-Nobles be-12e-Using Excel Ch09-Ch10 Start - Rea. AutoSave Off Sign in X File Home Page Layout Formulas Insert Data View Review Help Power Pivot Search Paste Calibri Σ- General Conditional Formatting 11 Insert 4 $ -% 6849 A A A Cipbe BIU BFormat as Table Delete Paste Ideas Cell Styles Format Font Clipboard Alignment Number Styles Cells Editing Ideas E15 B...
Revise your worksheet to reflect these updated assumptions and then answer the questions that follow. Original...
Revise your worksheet to reflect these updated assumptions and then answer the questions that follow. Original Cost Estimated Residual Value $141,600 35,400 Estimated Useful Years 6 Estimated Units 48,000 Actual Units: Year 1 4,800 8,640 10,560 11,520 9,600 Year 2 Year 3 Year 4 Year 5 Year 6 7,680 52,800 Required: 1. Use your spreadsheet to recalculate Depreciation Expense, Accumulated Depreciation, and the Book Value for Year 6 under each method. Note your revised values below. Double-Declining- Activity-Based Straight-Line Balance...
ng Depreciation Use the following information to answer Questions 46-50: On April 1, 2016, a company...
ng Depreciation Use the following information to answer Questions 46-50: On April 1, 2016, a company that uses a calendar year purchases equipment with an acquisition cost of $85,000 that it estimates will produce 800,000 units over its 8-year life and have a residual value of $6,000 You are depreciating the asset for book purposes. 46. If the company uses the straight-line method, 2016 depreciation a. $10,625 b. $10,000 c. $7,969 d. $7,500 47. If the company uses units of...
Prepare depreciation schedules using Excel - Thanks in advance G H I J K L M...
Prepare depreciation schedules using Excel - Thanks in
advance
G H I J K L M N O P Prepare depreciation schedules using Straight-line, Units-of-production, and double-declining balance depreciation. Make use of Excel capabilities by using as many formulas and functions as possible. Sullivan Ranch Corporation has purchased a new tractor. The following information is given: 1 150,000 10,000 Reference or given data section. 1,200 2 3 Cost: 4 Estimated Residual: 5 Estimated Life in years 6 Estimated Life in...
Can you please answer for all three, Straight-line, Units-of-production, and Double-declining-balance Assume Organic Ice Cream Company,...
Can you please answer for all three, Straight-line,
Units-of-production, and Double-declining-balance
Assume Organic Ice Cream Company, Inc., bought a new ice cream production kit (pasteurizer/homogenizer, cooler, aging vat, freezer, and filling machine) at the beginning of the year at a cost of $28,000. The estimated useful life was four years, and the residual value was $1,840. Assume that the estimated productive life of the machine was 10,900 hours. Actual annual usage was 4,360 hours in Year 1; 3,270 hours in...
EXERCISE #3 (DEPRECIATION METHODS) (15 pts.) Dougan Company purchased equipment on January 1, 2020 for $90,000....
EXERCISE #3 (DEPRECIATION METHODS) (15 pts.) Dougan Company purchased equipment on January 1, 2020 for $90,000. It is estimated that the equipment will have a $5,000 salvage value at the end of its 5-year useful life. It is also estimated that the equipment will produce 100,000 units over its 5-year life. Instructions: Answer the following independent questions. Show Work! 1. Compute the amount of depreciation expense for the vear ended December 31, 2020 and 24 and the Book Value at...
hi please help me with this i think i got it all wrong. Xy2 Company purchased...
hi please help me with this i think i got it all wrong.
Xy2 Company purchased a new machine to be used in their factory. The cost of the machine was $48,450. In addition, the following expenses were incurred: sales tax of 8%, a foundation on which to mount the machine $36 installation S280 and lunch for the installation crew $56. The used 2,200 hours in the first year, 1,950 and 2,020 hours in years two and three respectively. 1....
Required information [The following information applies to the questions displayed below.) At the beginning of the...
Required information [The following information applies to the questions displayed below.) At the beginning of the year, Plummer's Sports Center bought three used fitness machines from Brunswick Corporation. The machines immediately were overhauled, installed, and started operating. The machines were different; therefore, each had to be recorded separately in the accounts. Invoice price paid for asset Installation costs Renovation costs prior to use Machine A $ 26,300 2,200 3,400 Machine B $ 32,900 2,400 1,100 Machine C $ 9,700 900...
PLEASE HELP! THIS INFORMATION IS TOGETHER PLEASE READ. New lithographic equipment, acquired at a cost of...
PLEASE HELP! THIS INFORMATION IS TOGETHER PLEASE READ.
New lithographic equipment, acquired at a cost of $905,600 on March 1 at the beginning of a fiscal year, has an estimated useful life of five years and an estimated residual value of $101,880. The manager requested information regarding the effect of alternative methods on the amount of depreciation expense each year. On the basis of the data presented to the manager, the double-declining-balance method was selected. In the first week of...
show work please just checking my answers # 7,500 #17 DOO # 22,500 45,000 X#20 / 0,05 = Value allocated to equipment...
show work please just checking my answers
# 7,500 #17 DOO # 22,500 45,000 X#20 / 0,05 = Value allocated to equipment = #45000 30,000/16000 Question 2 (12 points) On January 2, 2016, Alpha Company acquired a new machine by signing a 5 year note for 562,000. The estimated service life is eight years and the total units of output to be 200,000. The estimated residual value is $8,000. Using the straight-line method how much is: (Enter only whole dollar...
IT
IS REQUIRED THAT I ENTER FORMULAS! that is what i need help with,
not the numerical answers
Jirel Miller-Nobles be-12e-Using Excel Ch09-Ch10 Start - Rea. AutoSave Off Sign in X File Home Page Layout Formulas Insert Data View Review Help Power Pivot Search Paste Calibri Σ- General Conditional Formatting 11 Insert 4 $ -% 6849 A A A Cipbe BIU BFormat as Table Delete Paste Ideas Cell Styles Format Font Clipboard Alignment Number Styles Cells Editing Ideas E15 B...
Revise your worksheet to reflect these updated assumptions and then answer the questions that follow. Original Cost Estimated Residual Value $141,600 35,400 Estimated Useful Years 6 Estimated Units 48,000 Actual Units: Year 1 4,800 8,640 10,560 11,520 9,600 Year 2 Year 3 Year 4 Year 5 Year 6 7,680 52,800 Required: 1. Use your spreadsheet to recalculate Depreciation Expense, Accumulated Depreciation, and the Book Value for Year 6 under each method. Note your revised values below. Double-Declining- Activity-Based Straight-Line Balance...
ng Depreciation Use the following information to answer Questions 46-50: On April 1, 2016, a company that uses a calendar year purchases equipment with an acquisition cost of $85,000 that it estimates will produce 800,000 units over its 8-year life and have a residual value of $6,000 You are depreciating the asset for book purposes. 46. If the company uses the straight-line method, 2016 depreciation a. $10,625 b. $10,000 c. $7,969 d. $7,500 47. If the company uses units of...
Prepare depreciation schedules using Excel - Thanks in
advance
G H I J K L M N O P Prepare depreciation schedules using Straight-line, Units-of-production, and double-declining balance depreciation. Make use of Excel capabilities by using as many formulas and functions as possible. Sullivan Ranch Corporation has purchased a new tractor. The following information is given: 1 150,000 10,000 Reference or given data section. 1,200 2 3 Cost: 4 Estimated Residual: 5 Estimated Life in years 6 Estimated Life in...
Can you please answer for all three, Straight-line,
Units-of-production, and Double-declining-balance
Assume Organic Ice Cream Company, Inc., bought a new ice cream production kit (pasteurizer/homogenizer, cooler, aging vat, freezer, and filling machine) at the beginning of the year at a cost of $28,000. The estimated useful life was four years, and the residual value was $1,840. Assume that the estimated productive life of the machine was 10,900 hours. Actual annual usage was 4,360 hours in Year 1; 3,270 hours in...
EXERCISE #3 (DEPRECIATION METHODS) (15 pts.) Dougan Company purchased equipment on January 1, 2020 for $90,000. It is estimated that the equipment will have a $5,000 salvage value at the end of its 5-year useful life. It is also estimated that the equipment will produce 100,000 units over its 5-year life. Instructions: Answer the following independent questions. Show Work! 1. Compute the amount of depreciation expense for the vear ended December 31, 2020 and 24 and the Book Value at...
hi please help me with this i think i got it all wrong.
Xy2 Company purchased a new machine to be used in their factory. The cost of the machine was $48,450. In addition, the following expenses were incurred: sales tax of 8%, a foundation on which to mount the machine $36 installation S280 and lunch for the installation crew $56. The used 2,200 hours in the first year, 1,950 and 2,020 hours in years two and three respectively. 1....
Required information [The following information applies to the questions displayed below.) At the beginning of the year, Plummer's Sports Center bought three used fitness machines from Brunswick Corporation. The machines immediately were overhauled, installed, and started operating. The machines were different; therefore, each had to be recorded separately in the accounts. Invoice price paid for asset Installation costs Renovation costs prior to use Machine A $ 26,300 2,200 3,400 Machine B $ 32,900 2,400 1,100 Machine C $ 9,700 900...
PLEASE HELP! THIS INFORMATION IS TOGETHER PLEASE READ.
New lithographic equipment, acquired at a cost of $905,600 on March 1 at the beginning of a fiscal year, has an estimated useful life of five years and an estimated residual value of $101,880. The manager requested information regarding the effect of alternative methods on the amount of depreciation expense each year. On the basis of the data presented to the manager, the double-declining-balance method was selected. In the first week of...
show work please just checking my answers
# 7,500 #17 DOO # 22,500 45,000 X#20 / 0,05 = Value allocated to equipment = #45000 30,000/16000 Question 2 (12 points) On January 2, 2016, Alpha Company acquired a new machine by signing a 5 year note for 562,000. The estimated service life is eight years and the total units of output to be 200,000. The estimated residual value is $8,000. Using the straight-line method how much is: (Enter only whole dollar...
Most questions answered within 3 hours.
-
The following temperatures show the (fictional) daily low
measured at O'Hare airport every January 1st from...
asked 7 minutes ago -
Your friend is interested in the characteristics of fast tree
planters. He searched through the records...
asked 15 minutes ago -
. 0.67 g of Ag is deposited electrolytically from
AgNO3 after a certain period of time...
asked 16 minutes ago -
assuming that the boric acid, h3po3 present at the end of the
borax tritation has a...
asked 15 minutes ago -
When a carbonate solution is acidified, carbon dioxide is
produced.
2H+(aq) + CO32-(aq) → H2O(l) +...
asked 54 minutes ago -
A reaction has the following rate law: Rate =
kr[A][B]2. In experiment 1, the
concentrations of...
asked 52 minutes ago -
king owns a large number of public pay phones. as rhe use of
payphones decline deamatically,...
asked 55 minutes ago -
3.7 - A book is sitting on a table. The mass of the book
is 1...
asked 1 hour ago -
Which term describes the process by which a single strand of DNA
serves as a template...
asked 1 hour ago -
LAB FOOD DRING
ANSWER THE QUESTIONS:
Q1. What value is the moisture content versus time and...
asked 1 hour ago -
You are told that an object has zero acceleration. Two forces on
the object are: F_1...
asked 1 hour ago -
The usual starting point for preparing a master budget is
forecasting or estimating:
Multiple Choice
Sales....
asked 1 hour ago