Bulldog Broadcasting purchased a high-end copy machine with a cost of $65,000 at the beginning of...
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Bulldog Broadcasting purchased a high-end copy machine with a cost of $65,000 at the beginning of 2019. The copy machine has an estimated life of 5 years or 1,000,000 copies (i.e., photocopies). The salvage value of the copy machine is estimated at $10,000. During 2019, 2020, and 2021, the total copies made were 400K. 250K, and 200K, respectively. Determine the following, and show your work: What journal entry is needed at the end of 2019 to record depreciation expense using straight-line depreciation? What is the book value of the copy machine at the end of 2021 using straight-line depreciation? Now assume Bulldog Broadcasting depreciates the copy machine using double-declining balance depreciation. Complete the deprecation table below for the five-year life of the asset. Year Depreciation Expense Accumulated Depreciation 2019 2020 2021 2022 2023 What is the per unit amount of depreciation using units-of-production depreciation? What is total depreciation expense for 2019 using units-of-production depreciation? Book Value What journal entry is needed at the end of 2021 to record depreciation expense using units-of-production depreciation? Bulldog Broadcasting purchased a high-end copy machine with a cost of $65,000 at the beginning of 2019. The copy machine has an estimated life of 5 years or 1,000,000 copies (i.e., photocopies). The salvage value of the copy machine is estimated at $10,000. During 2019, 2020, and 2021, the total copies made were 400K. 250K, and 200K, respectively. Determine the following, and show your work: What journal entry is needed at the end of 2019 to record depreciation expense using straight-line depreciation? What is the book value of the copy machine at the end of 2021 using straight-line depreciation? Now assume Bulldog Broadcasting depreciates the copy machine using double-declining balance depreciation. Complete the deprecation table below for the five-year life of the asset. Year Depreciation Expense Accumulated Depreciation 2019 2020 2021 2022 2023 What is the per unit amount of depreciation using units-of-production depreciation? What is total depreciation expense for 2019 using units-of-production depreciation? Book Value What journal entry is needed at the end of 2021 to record depreciation expense using units-of-production depreciation?
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Journal entry at the end of 2019 Depreciation Ac Dr 11000 To Machine Ac 11000 Being Machine ... View the full answer
Related Book For
College Accounting
ISBN: 978-1111528126
11th edition
Authors: Tracie Nobles, Cathy Scott, Douglas McQuaig, Patricia Bille
Posted Date:
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