Brief Exercise 11-2 Crane Company purchased
machinery on January 1, 2017, for $97,600. The machinery is
estimated to have a salvage value of $9,760 after a useful life of
8 years. Compute 2017 depreciation expense using the straight-line
method. Depreciation expense $ LINK TO TEXT Compute 2017
depreciation expense using the straight-line method assuming the
machinery was purchased on September 1, 2017. Depreciation expense
$ Click if you would like to Show Work for this question: Open Show
Work
Homework Answers
Depreciation as per straight line method find out with the use of following formula and as per this method depreciation will be equal for all years.
When Machine purchased on 1st January, 2017
Annual Depreciation = Total cost of Machinery – Salvage value / Estimated life
= $ 97,600 - $ 9,760 / 8 years
= $ 87,840 / 8 years
= $ 10,980 per annum depreciation
|
Total cost of Machinery |
$ 97,600 |
|
Salvage value |
( $ 9,760 ) |
|
Depreciable cost |
$ 87,840 |
|
Divided by Estimated life of machine |
÷ 8 years |
|
Annual depreciation |
$ 10,980 |
So for the year 2017 Depreciation is $ 10,980.
When machine purchased on 1st September
Suppose this machine purchased on 1st September, 2017
Depreciation for 2017 calculated only for 4 months.
= $ 10,980 * 4 / 12 months
= $ 3,660 Depreciation
Add Answer to:
Brief Exercise 11-2 Crane Company purchased machinery on January 1, 2017, for $97,600. The machinery is estimated to hav...
Novak Company purchased machinery on January 1, 2017, for $97,600. The machinery is estimated to have a salvage value of...
Novak Company purchased machinery on
January 1, 2017, for $97,600. The machinery is estimated to have a
salvage value of $9,760 after a useful life of 8 years. Compute
2017 depreciation expense using the double-declining-balance
method. Depreciation expense $ LINK TO TEXT Compute 2017
depreciation expense using the double-declining-balance method,
assuming the machinery was purchased on October 1, 2017. (Round
answer to 0 decimal places, e.g. 5,125.) Depreciation expense $
Click if you would like to Show Work for this...
Brief Exercise 11-3 Oriole Company purchased machinery on January 1, 2017, for $90,400. The machinery is estimated to ha...
Brief Exercise 11-3 Oriole Company
purchased machinery on January 1, 2017, for $90,400. The machinery
is estimated to have a salvage value of $9,040 after a useful life
of 8 years. Compute 2017 depreciation expense using the
sum-of-the-years'-digits method. Depreciation expense $ LINK TO
TEXT Compute 2017 depreciation expense using the
sum-of-the-years'-digits method, assuming the machinery was
purchased on April 1, 2017. (Round answer to 0 decimal places, e.g.
5,125.) Depreciation expense $ Click if you would like to Show...
Flounder Company purchased machinery on January 1,2017,for $97,600. The machinery is estimated to have a salvage...
Flounder Company purchased machinery on January 1,2017,for $97,600. The machinery is estimated to have a salvage value of $9,760 after a useful life of 8 years. Compute 2017 depreciation expense using the straight-line method. Depreciation expense$ eTextbook and Media Compute 2017 depreciation expense using the straight-line method assuming the machinery was purchased on September 1,2017 Depreciation expense $
unit 2 11-2 Sweet Company purchased machinery on January 1, 2017, for $96,800. The machinery is...
unit 2 11-2 Sweet Company purchased machinery on January 1,
2017, for $96,800. The machinery is estimated to have a salvage
value of $9,680 after a useful life of 8 years.
Compute 2017 depreciation expense using the straight-line
method.
Depreciation expense
$
Compute 2017 depreciation expense using the straight-line
method assuming the machinery was purchased on September 1,
2017.
Depreciation expense
$
Flounder Company purchased machinery on January 1, 2017, for $88,800. The machinery is estimated to have...
Flounder Company purchased machinery on January 1, 2017, for
$88,800. The machinery is estimated to have a salvage value of
$8,880 after a useful life of 8 years.
Compute 2017 depreciation expense using the straight-line
method.
Depreciation expense
$
Compute 2017 depreciation expense using the straight-line method
assuming the machinery was purchased on September 1, 2017.
Depreciation expense
$
Concord Company purchased machinery on January 1, 2020, for $84,000. The machinery is estimated to have a salvage value...
Concord Company purchased machinery on January 1, 2020, for $84,000. The machinery is estimated to have a salvage value of $8,400 after a useful life of 8 years. Compute 2020 depreciation expense using the straight-line method. Depreciation expense LINK TO TEXT Compute 2020 depreciation expense using the straight-line method assuming the machinery was purchased on September 1, 2020. Depreciation expense
Question 1 Kingbird Company purchased machinery on January 1, 2020, for $96,800. The machinery is estimated...
Question 1 Kingbird Company purchased machinery on January 1, 2020, for $96,800. The machinery is estimated to have a salvage value of $9,680 after a useful life of 8 years. Compute 2020 depreciation expense using the sum-of-the-years'-digits method. Depreciation expenses 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 expenses Click if you would like to Show Work for this...
Unit 2 11-4 Splish Company purchased machinery on January 1, 2017, for $96,800. The machinery is...
Unit 2 11-4
Splish Company purchased machinery on January 1, 2017, for
$96,800. The machinery is estimated to have a salvage value of
$9,680 after a useful life of 8 years.
Compute 2017 depreciation expense using the
double-declining-balance method.
Depreciation expense
$
Compute 2017 depreciation expense using the
double-declining-balance method, assuming the machinery was
purchased on October 1, 2017. (Round answer to 0
decimal places, e.g. 5,125.)
Depreciation expense
$
Brief Exercise 11-07 Crane Company purchased a computer for $8,080 on January 1, 2019. Straight-line depreciation...
Brief Exercise 11-07
Crane Company purchased a computer for $8,080 on January 1,
2019. Straight-line depreciation is used, based on a 5-year life
and a $1,010 salvage value. On January 1, 2021, the estimates are
revised. Crane now feels the computer will be used until December
31, 2022, when it can be sold for $505.
Compute the 2021 depreciation. (Round answer to 0
decimal places, e.g. 45,892.)
Depreciation expense, 2021
$
PLEASE SHOW ALL WORK.
Teal Corporation purchased a truck at the beginning of 2017 for $54,500. The truck is estimated...
Teal Corporation purchased a truck at the beginning of 2017 for $54,500. The truck is estimated to have a salvage value of $2,180 and a useful life of 174,400 miles. It was driven 25,070 miles in 2017 and 33,790 miles in 2018. Compute depreciation expense for 2017 and 2018. eful Depreciation expense for 2017 Depreciation expense for 2018 Culver Company purchased machinery on January 1, 2017, for $87,200. The machinery is estimated to have a salvage value of $8,720 after...
Novak Company purchased machinery on
January 1, 2017, for $97,600. The machinery is estimated to have a
salvage value of $9,760 after a useful life of 8 years. Compute
2017 depreciation expense using the double-declining-balance
method. Depreciation expense $ LINK TO TEXT Compute 2017
depreciation expense using the double-declining-balance method,
assuming the machinery was purchased on October 1, 2017. (Round
answer to 0 decimal places, e.g. 5,125.) Depreciation expense $
Click if you would like to Show Work for this...
Brief Exercise 11-3 Oriole Company
purchased machinery on January 1, 2017, for $90,400. The machinery
is estimated to have a salvage value of $9,040 after a useful life
of 8 years. Compute 2017 depreciation expense using the
sum-of-the-years'-digits method. Depreciation expense $ LINK TO
TEXT Compute 2017 depreciation expense using the
sum-of-the-years'-digits method, assuming the machinery was
purchased on April 1, 2017. (Round answer to 0 decimal places, e.g.
5,125.) Depreciation expense $ Click if you would like to Show...
Flounder Company purchased machinery on January 1,2017,for $97,600. The machinery is estimated to have a salvage value of $9,760 after a useful life of 8 years. Compute 2017 depreciation expense using the straight-line method. Depreciation expense$ eTextbook and Media Compute 2017 depreciation expense using the straight-line method assuming the machinery was purchased on September 1,2017 Depreciation expense $
unit 2 11-2 Sweet Company purchased machinery on January 1,
2017, for $96,800. The machinery is estimated to have a salvage
value of $9,680 after a useful life of 8 years.
Compute 2017 depreciation expense using the straight-line
method.
Depreciation expense
$
Compute 2017 depreciation expense using the straight-line
method assuming the machinery was purchased on September 1,
2017.
Depreciation expense
$
Flounder Company purchased machinery on January 1, 2017, for
$88,800. The machinery is estimated to have a salvage value of
$8,880 after a useful life of 8 years.
Compute 2017 depreciation expense using the straight-line
method.
Depreciation expense
$
Compute 2017 depreciation expense using the straight-line method
assuming the machinery was purchased on September 1, 2017.
Depreciation expense
$
Concord Company purchased machinery on January 1, 2020, for $84,000. The machinery is estimated to have a salvage value of $8,400 after a useful life of 8 years. Compute 2020 depreciation expense using the straight-line method. Depreciation expense LINK TO TEXT Compute 2020 depreciation expense using the straight-line method assuming the machinery was purchased on September 1, 2020. Depreciation expense
Question 1 Kingbird Company purchased machinery on January 1, 2020, for $96,800. The machinery is estimated to have a salvage value of $9,680 after a useful life of 8 years. Compute 2020 depreciation expense using the sum-of-the-years'-digits method. Depreciation expenses 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 expenses Click if you would like to Show Work for this...
Unit 2 11-4
Splish Company purchased machinery on January 1, 2017, for
$96,800. The machinery is estimated to have a salvage value of
$9,680 after a useful life of 8 years.
Compute 2017 depreciation expense using the
double-declining-balance method.
Depreciation expense
$
Compute 2017 depreciation expense using the
double-declining-balance method, assuming the machinery was
purchased on October 1, 2017. (Round answer to 0
decimal places, e.g. 5,125.)
Depreciation expense
$
Brief Exercise 11-07
Crane Company purchased a computer for $8,080 on January 1,
2019. Straight-line depreciation is used, based on a 5-year life
and a $1,010 salvage value. On January 1, 2021, the estimates are
revised. Crane now feels the computer will be used until December
31, 2022, when it can be sold for $505.
Compute the 2021 depreciation. (Round answer to 0
decimal places, e.g. 45,892.)
Depreciation expense, 2021
$
PLEASE SHOW ALL WORK.
Teal Corporation purchased a truck at the beginning of 2017 for $54,500. The truck is estimated to have a salvage value of $2,180 and a useful life of 174,400 miles. It was driven 25,070 miles in 2017 and 33,790 miles in 2018. Compute depreciation expense for 2017 and 2018. eful Depreciation expense for 2017 Depreciation expense for 2018 Culver Company purchased machinery on January 1, 2017, for $87,200. The machinery is estimated to have a salvage value of $8,720 after...
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