Answered step by step
Verified Expert Solution
Question
1 Approved Answer
-/201 On April 22, 2023, Carla Vista Enterprises purchased equipment for $137,720. The company expects to use the equipment for 11,800 working hours during
-/201 On April 22, 2023, Carla Vista Enterprises purchased equipment for $137,720. The company expects to use the equipment for 11,800 working hours during its four-year life and that it will have a residual value of $15,000. Carla Vista has a December 31 year end and pro-rates depreciation to the nearest month. The actual machine usage was: 1,900 hours in 2023;2,900 hours in 2024; 3,500 hours in 2025; 2,700 hours in 2026; and 1,000 hours in 2027. (a1) Prepare a depreciation schedule for the life of the asset under the straight-line method. (Round partial-period depreciation rate to 4 decimal palces, eg. 15.2563% and other answers to O decimal places, eg. 5.276) Year 2023 $ 2024 2025 2026 2027 Depreciable Amount I Depr. x Rate % % % 96 96 Depr Expense Accum. D $ (a1) Prepare a depreciation schedule for the life of the asset under the straight-line method. (Round partial-period depreciation rate to 4 decimal polces, eg. 15.2563% and other answers to O decimal places, eg. 5.276) Depr. Rate 96 % Depr. Expense Accum. Depr. 17 $ 96 I % % End of Year Carrying Amount $
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started