1.On October 1, 2020, Hunt Company purchased factory equipment with an invoice price of $90,000. Other costs incurred were freight costs, $2,100; installation wiring and foundation, $2,200; material and labor costs in testing equipment, $700; oil lubricants and supplies to be used with equipment during the life of the asset, $500; fire insurance policy covering equipment for three years, $1,400. The equipment is estimated to have a $5,000 salvage value at the end of its 8-year useful service life. (A) Find the Cost of the Equipment.

On October 1, 2020, Hines Co. purchased factory equipment with an invoice price of $90,000. The equipment is estimated to have a $5,000 salvage value at the end of its 8-year useful service life. (B) What is depreciation for 2020 using double declining balance method? ______What is the book value ?

On October 1, 2020, Hunt Company purchased factory equipment with an invoice price of $90,000. The equipment is estimated to have a $5,000 salvage value at the end of its 8-year useful service life. Using your calculations from Question #2, calculate depreciation using double declining balance method for:2021 Depreciation and 2021 Book ValueTanner Company purchased equipment on January 1, 2020 for $90,000. It is estimated that the equipment will have a $5,000 salvage value at the end of its 5-year useful life. It is also estimated that the equipment will produce 100,000 units over its 5-year life. SHOW ALL Calculations:

Tanner Company purchased equipment on January 1, 2020 for $90,000. It is estimated that the equipment will have a $5,000 salvage value at the end of its 5-year useful life. It is also estimated that the equipment will produce 100,000 units over its 5-year life. SHOW ALL Calculations: (1) The company uses straight-line depreciation.What is depreciation for 2020? What is the Accumulated Depreciation in year 2022?

Tanner Company purchased equipment on January 1, 2020 for $90,000. It is estimated that the equipment will have a $5,000 salvage value at the end of its 5-year useful life. It is also estimated that the equipment will produce 100,000 units over its 5-year life. The company uses the units-of-activity depreciation method. If 16,000 units are produced in 2020 and 24,000 units are produced in 2021, answer the following: 2020 Depreciation, 2021 Depreciation, 12/31/2021 Book Value

Tanner Company purchased equipment on January 1, 2020 for $90,000. It is estimated that the equipment will have a $5,000 salvage value at the end of its 5-year useful life. It is also estimated that the equipment will produce 100,000 units over its 5-year life. The company uses the double declining balance method of depreciation; 2020 Depreciation, 2021 Depreciation, 2021 Accumulated Depreciation

Blaire Medical Center purchased an x-ray machine on January 1, 2018 for $120,000. The machine has $87,000 accumulated depreciation. On January 1, 2020 it is sold for $40,000. Record the sale of the x-ray machine. (4 pts.) Use the space provided to type in your journal entry, following correct general journal format

LEG Landscaping purchased a Z-mower with a cost of $8,500. The current book value is $2,500. On January 1, 2020, it is sold for $1,750. Record the sale of the Z-mower.

On January 1, 2020, Ogle Furniture traded their old cash register in for a new cash register. The old cash register had cost $3,500 originally, but currently has a book value of $500. The new cash register has a list price of $4,800. Ogle Furniture was granted a $800 trade in allowance for the old cash register and paid the difference.

Laramie Furniture purchased equipment on January 1, 2018 for $50,000, with a $5,000 salvage value and a 9 year life. Laramie uses straight-line depreciation. Depreciation has been recorded through December 31, 2020. On April 1, 2021, the equipment is sold for $22,000. Record all necessary transactions on April 1st