Homework Answers
| Straight line Depreciation | |||||
| Choose numerator | / | Choose denominator | = | Annual Depreciation | |
| Depreciable base | / | Useful life | = | Annual depreciation | |
| (267000-3000) | / | 10 | = | 26400 | |
| Year | Annual depreciation | * | Fraction of year | = | Depreciation expense |
| 2021 | 26400 | * | 3/12 | = | 6600 |
| 2022 | 26400 | * | 12/12 | = | 26400 |
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(The following information applies to the questions displayed below.) On October 1, 2021, the Allegheny Corporation...
Required information [The following information applies to the questions displayed below.] On October 1, 2021, the...
Required information [The following information applies to the questions displayed below.] On October 1, 2021, the Allegheny Corporation purchased equipment for $267,000. The estimated service life of the equipment is 10 years and the estimated residual value is $3,000. The equipment is expected to produce 480,000 units during its life. Required: Calculate depreciation for 2021 and 2022 using each of the following methods. Partial- year depreciation is calculated based on the number of months the asset is in service. 1....
Required information (The following information applies to the questions displayed below.) On October 1, 2021, the...
Required information (The following information applies to the questions displayed below.) On October 1, 2021, the Allegheny Corporation purchased equipment for $191,000. The estimated service life of the equipment is 10 years and the estimated residual value is $4,000. The equipment is expected to produce 340,000 units during its life. Required: Calculate depreciation for 2021 and 2022 using each of the following methods. Partial-year depreciation is calculated based on the number of months the asset is in service. 1. Straight...
Required information [The following information applies to the questions displayed below.) On October 1, 2021, the...
Required information [The following information applies to the questions displayed below.) On October 1, 2021, the Allegheny Corporation purchased equipment for $224,000. The estimated service life of the equipment is 10 years and the estimated residual value is $4,000. The equipment is expected to produce 400,000 units during its life. Required: Calculate depreciation for 2021 and 2022 using each of the following methods. Partial-year depreciation is calculated based on the number of months the asset is in service. 1. Straight...
On October 1, 2021, the Allegheny Corporation purchased equipment for $123,000. The estimated service life of...
On October 1, 2021, the Allegheny Corporation purchased equipment for $123,000. The estimated service life of the equipment is 10 years and the estimated residual value is $2,000. The equipment is expected to produce 220,000 units during its life. Required: Calculate depreciation for 2021 and 2022 using each of the following methods. Partial-year depreciation is calculated based on the number of months the asset is in service. 1. Straight line. Straight-Line Depreciation 1 Choose Denominator: Choose Numerator: Annual Depreciation =...
Required information (The following information applies to the questions displayed below.) On October 1, 2021, the...
Required information (The following information applies to the questions displayed below.) On October 1, 2021, the Allegheny Corporation purchased equipment for $148,000. The estimated service life of the equipment is 10 years and the estimated residual value is $5,000. The equipment is expected to produce 260,000 units during its life. Required: Calculate depreciation for 2021 and 2022 using each of the following methods. Partial-year depreciation is calculated based on the number of months the asset is in service. 2. Double-declining-balance....
On October 1, 2021, the Allegheny Corporation purchased equipment for $289,000. The estimated service life of...
On October 1, 2021, the Allegheny Corporation purchased equipment for $289,000. The estimated service life of the equipment is 10 years and the estimated residual value is $3,000. The equipment is expected to produce 520,000 units during its life. Required: Calculate depreciation for 2021 and 2022 using each of the following methods. Partial-year depreciation is calculated based on the number of months the asset is in service. exercise 11-3 (Algo) Part 1 Straight line. Straight-Line Depreciation 1 Choose Denominator: Choose...
Required information [The following information applies to the questions displayed below.] On October 1, 2021, the...
Required information [The following information applies to the questions displayed below.] On October 1, 2021, the Allegheny Corporation purchased equipment for $323,000. The estimated service life of the equipment is 10 years and the estimated residual value is $4,000. The equipment is expected to produce 550,000 units during its life. Required: Calculate depreciation for 2021 and 2022 using each of the following methods. Partial-year depreciation is calculated based on the number of months the asset is in service. 1. Straight...
Required information [The following information applies to the questions displayed below.] On January 1, 2021, the...
Required information [The following information applies to the questions displayed below.] On January 1, 2021, the Allegheny Corporation purchased equipment for $162,000. The estimated service life of the equipment is 10 years and the estimated residual value is $8,000. The equipment is expected to produce 350,000 units during its life. Required: Calculate depreciation for 2021 and 2022 using each of the following methods. 1. Straight line. Straight-Line Depreciation 1 Choose Denominator: Choose Numerator: = - Annual Depreciation Expense = Depreciation...
Required information The following information applies to the questions displayed below) On October 1, 2021, the...
Required information The following information applies to the questions displayed below) On October 1, 2021, the Allegheny Corporation purchased equipment for $148,000. The estimated service life of the equipment is 10 years and the estimatecl residual value is $5,000. The equipment is expected to produce 260.000 units cluring its life. Required: Calculate depreciation for 2021 and 2022 using each of the following methods. Partial-year depreciation is calculated based on the number of months the asset is in service 2. Double-declining...
PLEASE PUT SOLUTION IN THE SAME FORMAT AS THE IMAGE THANK YOU! Required information The following...
PLEASE PUT SOLUTION IN THE SAME FORMAT AS THE IMAGE
THANK YOU!
Required information The following information apples to the questlons displayed below] On October 1, 2021, the Allegheny Corporation purchased equlpment for $314,000. The estimated service life of the equipment is 10 years and the estimated residual value Is $6,000. The equlpment is expected to produce 550,000 unlts during its life. Required: Calculate depreciation for 2021 and 2022 using each of the following methods. Partial-year depreclation Is calculated based...
Required information [The following information applies to the questions displayed below.] On October 1, 2021, the Allegheny Corporation purchased equipment for $267,000. The estimated service life of the equipment is 10 years and the estimated residual value is $3,000. The equipment is expected to produce 480,000 units during its life. Required: Calculate depreciation for 2021 and 2022 using each of the following methods. Partial- year depreciation is calculated based on the number of months the asset is in service. 1....
Required information (The following information applies to the questions displayed below.) On October 1, 2021, the Allegheny Corporation purchased equipment for $191,000. The estimated service life of the equipment is 10 years and the estimated residual value is $4,000. The equipment is expected to produce 340,000 units during its life. Required: Calculate depreciation for 2021 and 2022 using each of the following methods. Partial-year depreciation is calculated based on the number of months the asset is in service. 1. Straight...
Required information [The following information applies to the questions displayed below.) On October 1, 2021, the Allegheny Corporation purchased equipment for $224,000. The estimated service life of the equipment is 10 years and the estimated residual value is $4,000. The equipment is expected to produce 400,000 units during its life. Required: Calculate depreciation for 2021 and 2022 using each of the following methods. Partial-year depreciation is calculated based on the number of months the asset is in service. 1. Straight...
On October 1, 2021, the Allegheny Corporation purchased equipment for $123,000. The estimated service life of the equipment is 10 years and the estimated residual value is $2,000. The equipment is expected to produce 220,000 units during its life. Required: Calculate depreciation for 2021 and 2022 using each of the following methods. Partial-year depreciation is calculated based on the number of months the asset is in service. 1. Straight line. Straight-Line Depreciation 1 Choose Denominator: Choose Numerator: Annual Depreciation =...
Required information (The following information applies to the questions displayed below.) On October 1, 2021, the Allegheny Corporation purchased equipment for $148,000. The estimated service life of the equipment is 10 years and the estimated residual value is $5,000. The equipment is expected to produce 260,000 units during its life. Required: Calculate depreciation for 2021 and 2022 using each of the following methods. Partial-year depreciation is calculated based on the number of months the asset is in service. 2. Double-declining-balance....
On October 1, 2021, the Allegheny Corporation purchased equipment for $289,000. The estimated service life of the equipment is 10 years and the estimated residual value is $3,000. The equipment is expected to produce 520,000 units during its life. Required: Calculate depreciation for 2021 and 2022 using each of the following methods. Partial-year depreciation is calculated based on the number of months the asset is in service. exercise 11-3 (Algo) Part 1 Straight line. Straight-Line Depreciation 1 Choose Denominator: Choose...
Required information [The following information applies to the questions displayed below.] On January 1, 2021, the Allegheny Corporation purchased equipment for $162,000. The estimated service life of the equipment is 10 years and the estimated residual value is $8,000. The equipment is expected to produce 350,000 units during its life. Required: Calculate depreciation for 2021 and 2022 using each of the following methods. 1. Straight line. Straight-Line Depreciation 1 Choose Denominator: Choose Numerator: = - Annual Depreciation Expense = Depreciation...
Required information The following information applies to the questions displayed below) On October 1, 2021, the Allegheny Corporation purchased equipment for $148,000. The estimated service life of the equipment is 10 years and the estimatecl residual value is $5,000. The equipment is expected to produce 260.000 units cluring its life. Required: Calculate depreciation for 2021 and 2022 using each of the following methods. Partial-year depreciation is calculated based on the number of months the asset is in service 2. Double-declining...
PLEASE PUT SOLUTION IN THE SAME FORMAT AS THE IMAGE
THANK YOU!
Required information The following information apples to the questlons displayed below] On October 1, 2021, the Allegheny Corporation purchased equlpment for $314,000. The estimated service life of the equipment is 10 years and the estimated residual value Is $6,000. The equlpment is expected to produce 550,000 unlts during its life. Required: Calculate depreciation for 2021 and 2022 using each of the following methods. Partial-year depreclation Is calculated based...
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