Answer
A |
Cost |
$ 108,000.00 |
B |
Residual Value |
$ 27,000.00 |
C=A - B |
Depreciable base |
$ 81,000.00 |
D |
Usage |
8,000 |
E = C/D |
Depreciation per ….. |
$ 10.125 per hour |
Year |
Book Value |
Usage |
Depreciation expense |
Ending Book Value |
Accumulated Depreciation |
1 |
$ 108,000.00 |
3,000 |
$ 30,375.00 |
$ 77,625.00 |
$ 30,375.00 |
2 |
$ 77,625.00 |
2,000 |
$ 20,250.00 |
$ 57,375.00 |
$ 50,625.00 |
3 |
$ 57,375.00 |
1,600 |
$ 16,200.00 |
$ 41,175.00 |
$ 66,825.00 |
4 |
$ 41,175.00 |
1,400 |
$ 14,175.00 |
$ 27,000.00 |
$ 81,000.00 |
Year |
Depreciation expense |
Accumulated Depreciation |
Book Value |
1 |
$ 30,375.00 |
$ 30,375.00 |
$ 77,625.00 |
2 |
$ 20,250.00 |
$ 50,625.00 |
$ 57,375.00 |
3 |
$ 16,200.00 |
$ 66,825.00 |
$ 41,175.00 |
4 |
$ 14,175.00 |
$ 81,000.00 |
$ 27,000.00 |
TOTAL |
$ 81,000.00 |
Required information The following information applies to the questions displayed below.] Cheetah Copy purchased a new...
Required information [The following information applies to the questions displayed below.] Cheetah Copy purchased a new copy machine. The new machine cost $108,000 including installation. The company estimates the equipment will have a residual value of $27,000. Cheetah Copy also estimates it will use the machine for four years or about 8,000 total hours. Actual use per year was as follows: Hours Used Year 1 3,000 2,000 1,600 2,400 2 3 4 Required: 1. Prepare a depreciation schedule for four...
Check my work Problem 7-5B Determine depreciation under three methods (L07-4) /The following information applies to the questions displayed below! Part 3 of 3 Cheetah Copy purchased a new copy machine. The new machine cost $108,000 including installation. The company estimates the equipment will have a residual value of $27,000. Cheetah Copy also estimates it will use the machine for four years or about 8,000 total hours. Actual use per year was as follows: Year 1.66 points Hours Used 3,000...
Cheetah Copy purchased a new copy machine. The new machine cost $108,000 including installation. The company estimates the equipment will have a residual value of $27,000. Cheetah Copy also estimates it will use the machine for four years or about 8,000 total hours. Actual use per year was as follows: 2. Prepare a depreciation schedule for four years using the double-declining-balance method. (Hint: The asset will be depreciated in only two years.) (Do not round your intermediate calculations.)
Problem 7-5B Determine depreciation under three methods (L07-4) [The following information applies to the questions displayed below.) Cheetah Copy purchased a new copy machine. The new machine cost $102,000 Including Installation. The company estimates the equipment will have a residual value of $25,500. Cheetah Copy also estimates it will use the machine for four years or about 8,000 total hours. Actual use per year was as follows: Year Hours Used 2,000 1,200 2, eee 3, eee Problem 7-5B Part 1...
Check my work Problem 7-58 Determine depreciation under three methods (L07-4) The following information applies to the questions displayed below. Part 1 of 3 Cheetah Copy purchased a new copy machine. The new machine cost $108,000 including installation. The company estimates the equipment will have a residual value of $27,000. Cheetah Copy also estimates it will use the machine for four years or about 8,000 total hours. Actual use per year was as follows: Year 1.66 points Hours Used 3,000...
Check my work Problem 7-5B Determine depreciation under three methods (L07-4) The following information applies to the questions displayed below.] Part 2 of 3 Cheetah Copy purchased a new copy machine. The new machine cost $108,000 including installation. The company estimates the equipment will have a residual value of $27,000. Cheetah Copy also estimates it will use the machine for four years or about 8,000 total hours. Actual use per year was as follows: Year 1.66 paints Hours Used 3,000...
Problem 7-5B Determine depreciation under three methods
(LO7-4)
[The following
information applies to the questions displayed below.]
Cheetah Copy purchased
a new copy machine. The new machine cost $134,000 including
installation. The company estimates the equipment will have a
residual value of $33,500. Cheetah Copy also estimates it will use
the machine for four years or about 8,000 total hours. Actual use
per year was as follows:
Required information Problem 7-5B Determine depreciation under three methods (LO7-4) [The following information...
Required information [The following information applies to the questions displayed below.) University Car Wash built a deluxe car wash across the street from campus. The new machines cost $270,000 including installation. The company estimates that the equipment will have a residual value of $24,000. University Car Wash also estimates it will use the machine for six years or about 12,000 total hours. Actual use per year was as follows: Year о при ме Hours Used 3,100 1,100 1,200 2,800 2,600...
Required information [The following information applies to the questions displayed below University Car Wash built a deluxe car wash across the street from campus. The new machines cost $237,000 including installation. The company estimates that the equipment will have a residual value of $28,500. University Car Wash also estimates it will use the machine for six years or about 12,500 total hours. Actual use per year was as follows: Year Hours Used 2,700 2,000 2,100 1,900 1,700 2,100 1 3...
Required information Problem 7-5B Determine depreciation under three methods (L07-4) (The following information applies to the questions displayed below) Cheetah Copy purchased a new copy machine. The new machine cost $104,000 including installation. The company estimates the equipment will have a residual value of $26.000. Cheetah Copy also estimates it will use the machine for four years or about 8,000 total hours. Actual use per year was as follows: Hours Used 2,900 1,300 1,400 2,600 Problem 7-5B Part 2 2....