Question
At December 31, 2013 Zcom Inc.'s balance sheet showed plant and equipment information as detailed in the schedule below. Zcom Inc. calculates depreciation to the
At December 31, 2013 Zcom Inc.'s balance sheet showed plant and equipment information as detailed in the schedule below. Zcom Inc. calculates depreciation to the nearest whole month. Please complete the schedule. Round depreciation per unit of production to the nearest cent.
Cost InformationDepreciationDescriptionPurchase DateDepreciation MethodCostResidualLife
Accum. Dep. Dec. 31, 2013
Dep. Expense for 2014
Accum. Dep. Dec. 31, 2014
EquipmentJanuary 2, 2013
Straight-line
118,00010,0005 years
There have been no disposals or subsequent capital expenditures on the asset since the date of purchase.
For simplicity, assume that the asset is depreciated as an individual item and will not be broken down into parts and depreciated.
At December 31, 2013 X-cell Inc.'s balance sheet showed plant and equipment information as detailed in the schedule below. X-cell Inc. calculates depreciation to the nearest whole month Please complete the schedule. Round depreciation per unit of production to the nearest cent. Cost Information Depreciation Accum. Dep. Dec. Dep. Expense Accum. Dep. Dec. Description Purchase Date Depreciation Method Cost Residual Life 31, 2013 for 2014 31, 2014 Machinery July 2, 2013 Double-declining balance 138,000 10,000 5 years There have been no disposals or subsequent capital expenditures on the asset since the date of purchase. For simplicity, assume that the asset is depreciated as an individual item and will not be broken down into parts and depreciatedStep by Step Solution
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