Question
In: Accounting
Marigold Corp. purchased machinery for $327,600 on May 1, 2017. It is estimated that it will...
Marigold Corp. purchased machinery for $327,600 on May 1, 2017.
It is estimated that it will have a useful life of 10 years,
salvage value of $15,600, production of 249,600 units, and working
hours of 25,000. During 2018, Marigold Corp. uses the machinery for
2,650 hours, and the machinery produces 26,520 units.
From the information given, compute the depreciation charge for
2018 under each of the following methods. (Round intermediate
calculations to 2 decimal places, e.g. 5.25 and final answers to 0
decimal places, e.g. 45,892.)
(a) Straight-line
$
(b) Units-of-output
$
(c) Working hours
$
(d) Sum-of-the-years'-digits
$
(e) Declining-balance (use 20% as the annual rate)
$
Solutions
ekkarill92 answered 2 years agoRelated Solutions
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Question 9 Bridgeport Corp. purchased machinery for $492,000 on May 1, 2017. It is estimated that...
Question 9
Bridgeport Corp. purchased machinery for $492,000 on May 1,
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residual value of $12,000, production of 192,000 units, and 40,000
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IFRS.
From the information...
Question 9 Bridgeport Corp. purchased machinery for $492,000 on May 1, 2017. It is estimated that...
Question 9
Bridgeport Corp. purchased machinery for $492,000 on May 1,
2017. It is estimated that it will have a useful life of 10 years,
residual value of $12,000, production of 192,000 units, and 40,000
working hours. The machinery will have a physical life of 15 years
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the machinery for 2,350 hours and the machinery produced 25,000
units. Bridgeport prepares financial statements in accordance with
IFRS.
From the information...
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and working hours of 37,500. During 2021, Blue Spruce Corp. uses
the machinery for 2,850 hours, and the machinery produces 23,000
units.
From the information given, calculate the following.
1. Calculate the depreciation charge for 2021 under
straight-line method.
Depreciation charge
$Enter your answer in accordance...
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depreciation expense using the sum-of-the-years'-digits method,
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double-declining-balance methods. (Round intermediate
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working hours of 42,000. During 2017, the company uses the
machinery for 14,300 hours, and the machinery produces 20,000
units. Compute depreciation under the straight-line, unit of
output, working hours, sum of the year’s digits, and
double-declining balance methods.
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