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
Homework Answers
compute depreciation expense
c) Sum of the year digit =108000*5/15*7/12+108000*4/15*5/12 = $33000
d) Double declining balance = 125100*40%*7/12+125100*60%*40%*5/12 = 41700
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Swifty Corporation purchased a new machine for its assembly process on August 1, 2020. The cost of this machine was $125...
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Exercise 11-05 Your answer is partially correct. Try again Robert Parish Corporation purchased a new machine...
Exercise 11-05 Your answer is partially correct. Try again Robert Parish Corporation purchased a new machine for its assembly process on August 1, 2020. The cost of this machine was $117,900. The company estimated that the machine would have a salvage value of $12,900 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 Compute the depreciation expense under the following methods. Each...
Exercise 11-05 Your answer is partially correct. Try again Robert Parish Corporation purchased a new machine...
Exercise 11-05 Your answer is partially correct. Try again Robert Parish Corporation purchased a new machine for its assembly process on August 1, 2020. The cost of this machine was $117,900. The company estimated that the machine would have a salvage value of $12,900 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 Compute the depreciation expense under the following methods. Each...
1. (12 points) Robert Parish Corporation purchased a new machine for its assembly process on January...
1. (12 points) Robert Parish Corporation purchased a new machine for its assembly process on January 1, 2014. The cost of this machine was $117,900. The company estimated that the machine would have a salvage value of $17,900 at the end of its service life. Its life is estimated at 4 years, and its working hours are estimated at 10,000 hours. Year-end is December 31. Instructions Compute the depreciation expense under the following methods and complete the depreciation schedules below....
1. (12 points) Robert Parish Corporation purchased a new machine for its assembly process on January...
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Corporation purchased a new machine for its assembly process on
January 1, 2014. The cost of this machine was $117,900. The company
estimated that the machine would have a salvage value of $17,900 at
the end of its service life. Its life is estimated at 4 years, and
its working hours are estimated at 10,000 hours. Year-end is
December 31. Instructions Compute the depreciation expense under
the following methods and complete the depreciation schedules
below....
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The company estimated that the machine would have a salvage value
of $18,300 at the end of its service life. Its life is estimated at
5 years, and its working hours are estimated at 22,500 hours.
Year-end is December 31.
Compute the depreciation expense under the following methods. Each
of the following should be considered unrelated. (Round
depreciation rate...
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Exercise 11-05 Your answer is partially correct. Try again Robert Parish Corporation purchased a new machine for its assembly process on August 1, 2020. The cost of this machine was $117,900. The company estimated that the machine would have a salvage value of $12,900 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 Compute the depreciation expense under the following methods. Each...
Exercise 11-05 Your answer is partially correct. Try again Robert Parish Corporation purchased a new machine for its assembly process on August 1, 2020. The cost of this machine was $117,900. The company estimated that the machine would have a salvage value of $12,900 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 Compute the depreciation expense under the following methods. Each...
1. (12 points) Robert Parish Corporation purchased a new machine for its assembly process on January 1, 2014. The cost of this machine was $117,900. The company estimated that the machine would have a salvage value of $17,900 at the end of its service life. Its life is estimated at 4 years, and its working hours are estimated at 10,000 hours. Year-end is December 31. Instructions Compute the depreciation expense under the following methods and complete the depreciation schedules below....
1. (12 points) Robert Parish
Corporation purchased a new machine for its assembly process on
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estimated that the machine would have a salvage value of $17,900 at
the end of its service life. Its life is estimated at 4 years, and
its working hours are estimated at 10,000 hours. Year-end is
December 31. Instructions Compute the depreciation expense under
the following methods and complete the depreciation schedules
below....
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