Question
In: Accounting
On January 1, 2015, a machine was purchased for $110,700. The machine has an estimated salvage...
On January 1, 2015, a machine was purchased for $110,700. The machine has an estimated salvage value of $7,380 and an estimated useful life of 5 years. The machine can operate for 123,000 hours before it needs to be replaced. The company closed its books on December 31 and operates the machine as follows: 2015, 24,600 hrs; 2016, 30,750 hrs; 2017, 18,450 hrs; 2018, 36,900 hrs; and 2019, 12,300 hrs.
A. Compute the annual depreciation charges over the machine’s life assuming a December 31 year-end for each of the following depreciation methods.
Sum of the Years' Digits Method 2015-2019
Double Declining Balance Method 2015-2019
B. Assume a fiscal year-end of September 30. Compute the annual depreciation charges over the asset’s life applying each of the following methods. Straight Line Method, Sum of the Years' Digits Method, Double Declining Balance Method for the years 2015-2020.
Solutions
ekkarill92 answered 1 year agoRelated Solutions
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Part 1
New attempt is in progress. Some of the...
On January 1, 2015, a machine was purchased for $107,100. The machine has an estimated salvage...
On January 1, 2015, a machine was purchased for $107,100. The
machine has an estimated salvage value of $7,140 and an estimated
useful life of 5 years. The machine can operate for 119,000 hours
before it needs to be replaced. The company closed its books on
December 31 and operates the machine as follows: 2015, 23,800 hrs;
2016, 29,750 hrs; 2017, 17,850 hrs; 2018, 35,700 hrs; and 2019,
11,900 hrs.
(a)
Compute the annual depreciation charges over the machine’s life...
On January 1, 2015, a machine was purchased for $94,500. The machine has an estimated salvage...
On January 1, 2015, a machine was purchased for $94,500. The
machine has an estimated salvage value of $6,300 and an estimated
useful life of 5 years. The machine can operate for 105,000 hours
before it needs to be replaced. The company closed its books on
December 31 and operates the machine as follows: 2015, 21,000 hrs;
2016, 26,250 hrs; 2017, 15,750 hrs; 2018, 31,500 hrs; and 2019,
10,500 hrs. Compute the annual depreciation charges over the
machine’s life assuming...
On January 1, 2015, a machine was purchased for $94,500. The machine has an estimated salvage...
On January 1, 2015, a machine was purchased for $94,500. The
machine has an estimated salvage value of $6,300 and an estimated
useful life of 5 years. The machine can operate for 105,000 hours
before it needs to be replaced. The company closed its books on
December 31 and operates the machine as follows: 2015, 21,000 hrs;
2016, 26,250 hrs; 2017, 15,750 hrs; 2018, 31,500 hrs; and 2019,
10,500 hrs. Assume a fiscal year-end of September 30. Compute the
annual...
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On January 1, 2018, a machine was purchased for $117,500. The
machine has an estimated salvage value of $10,400 and an estimated
useful life of 5 years. The machine can operate for 119,000 hours
before it needs to be replaced. The company closed its books on
December 31 and operates the machine as follows: 2018, 23,800 hrs;
2019, 29,750 hrs; 2020, 17,850 hrs; 2021, 35,700 hrs; and 2022,
11,900 hrs.
(a)
Compute the annual depreciation charges over the machine’s life...
On January 1, 2018, a machine was purchased for $122,500. The machine has an estimated salvage...
On January 1, 2018, a machine was purchased for $122,500. The
machine has an estimated salvage value of $7,300 and an estimated
useful life of 5 years. The machine can operate for 120,000 hours
before it needs to be replaced. The company closed its books on
December 31 and operates the machine as follows: 2018, 24,000 hrs;
2019, 30,000 hrs; 2020, 18,000 hrs; 2021, 36,000 hrs; and 2022,
12,000 hrs.
Compute the annual depreciation charges over the machine’s life
assuming...
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machine has an estimated salvage value of $6,400 and an estimated
useful life of 5 years. The machine can operate for 104,000 hours
before it needs to be replaced. The company closed its books on
December 31 and operates the machine as follows: 2018, 20,800 hrs;
2019, 26,000 hrs; 2020, 15,600 hrs; 2021, 31,200 hrs; and 2022,
10,400 hrs.
Compute the annual depreciation charges over the machine’s life
assuming...
On January 1, 2018, a machine was purchased for $102,500. The machine has an estimated salvage...
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machine has an estimated salvage value of $7,580 and an estimated
useful life of 5 years. The machine can operate for 113,000 hours
before it needs to be replaced. The company closed its books on
December 31 and operates the machine as follows: 2018, 22,600 hrs;
2019, 28,250 hrs; 2020, 16,950 hrs; 2021, 33,900 hrs; and 2022,
11,300 hrs.
Compute the annual depreciation charges over the machine’s life
assuming...
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