Ch8HW 6 of 6 (6 complete) HW to) nformation.) X - More Info On January 1, 2018, Ruiz Enterprises, Inc., paid $279,800 for equipment used in manufacturing automotive supplies. In addition to the basic purchase price, the company paid $1,100 for transportation charges, $1,100 for insurance for the equipment while in transit, $11,100 sales tax, and $1,900 for a special platform on which to place the equipment in the plant. Management of Ruiz Enterprises, Inc., estimates that the equipment will remain in service for five years and have a residual value of $35,000. The equipment will produce 60,000 units the first year, with annual production decreasing by 5,000 units during each of the next four years (i.e., 55,000 units in year 2: 50,000 units in year 3; and so on, for a total of 250,000 units). In trying to decide which depreciation method to use, Ruiz Enterprises, Inc., requested a depreciation schedule for each of the three depreciation methods (straight-line, units of production, and double-declining balance). Print Done $ 1/5 $ 260,000 $ 295,000 243,000 52,000 $ 52,000 2020 New Acct 116A Spring on campus CRN 26383 Bille Guinto Homework: Ch8HW 6 of 6 (6 complete) HW Score: 65.79%, 13.16 of 2 Score: 0.06 of 6 pts WP8-48A (similar to) Question Help Consider the following: Click the icon to view the information.) Read the resuirements Requirement 1. For each depreciation method, prepare a depreciation schedule showing a cost depreciation expense accumulated depreciation and a se's . For the units of production method, round depreciation per un to three decimal places book value for each year of the Before completing the straight line depreciation schedule, calculate the straight line depreciation rate. year 1 Useful life 5 (SL) Depreciation rate 1/5 Complete the Straight-Line Depreciation Schedule. Begin by filling out the schedule through 2019, and then complete the schedule by entering the amounts through 2022 Straight-Line Depreciation Schedule Depreciation Depreciable Depreciation Accumulated Rate Cost Expense Depreciation Asset Book Value Date January 1, 2018 Asset Cost 295 December 31, 2018 15 s 200.000 52.000 $ 52,000 243,000 This question is complete. Move your cursor over or tap on the red arrows to see incorrect answers. All parts showing Similar Question 911 PM 2020 IVEW ALLL TIUA Sping UI Lampus CRN 20565 Homework: Ch8HW 6 of 6 (6 complete) HW Score: Score: 0.06 of 6 pts P8-48A (similar to) Consider the following: (Click the icon to view the information.) Read the requirements Straight-Line Depreciation Schedule Depreciation Depreciable Depreciation Accumulated Asset Date Asset Cost Rate Cost Expense Depreciation Book Value January 1, 2018 $ 295,000 $ 295,000 December 31, 2018 260,000 $ 52,000 $ 52,000 243,000 December 31, 2019 260,000 52,000 104,000 191.000 December 31, 2020 1/5 260,000 52,000 156,000 139,000 December 31, 2021 1/5 260,000 52,000 208,000 87.000 December 31, 2022 1/5 260,000 52,000 260,000 35,000 Before completing the units of production (UOP) depreciation schedule, calculate the depreciation expense per unit. (Round depreciation per unit to three decimal places.) Depreciable Total unit output ERA = cost nnnn Depreciation per unit This question is complete. Move your cursor over or tap on the red arrows to see incorrect answers. All parts showing Oto 9 2020 New Acct 116A Spring on campus CRN 26383 Bille Guinto Homework: Ch8HW Save Score: 0.06 of 6 pts 6 of 6 (6 complete) HW Score: 65.79%, 13.16 of 20 pt P8-48A (similar to) Question Help Consider the following: Click the icon to view the information) Read the requirements Before completing the units of production (UOP) depreciation schedule, calculate the depreciation expense per unit. (Round depreciation per unit to three decimal places.) Depreciable Total unit cost utput - Depreciation per unit $ 260.000 250.000 . S 1.040 Complete the Units of Production Depreciation Schedule. Begin by filing out the schedule through 2019, and then complete the schedule by entering the amounts through 2022. (Enter depreciation per unit to three decimal places.) Units of Production Depreciation Schedule Depreciation Number of Depreciation Accumulated Asset Date Asset Cost Per Unit Units Expense Depreciation Book Value January 1, 2018 $ 205.000 $ 295,000 December 31, 2018 1.040 60,000 $ 62.400S 62.400 232,600 December 31, 2019 1.040 55,000 57,200 119,600 175,400 R oman 1991 This question is complete. Move your cursor over or tap on the red arrows to see incorrect answers. All parts showing Similar Question A . 4 7120 Score: 0.06 of 6 pts 6 of 6 (6 complete) % P8-48A (similar to) Consider the following: i (Click the icon to view the information.) Read the requirements Units of Production Depreciation Schedule Depreciation Number of Depreciation Accumulated Asset Date Asset Cost Per Unit Units Expense Depreciation Book Value January 1, 2018 $ 295,000 $ 295,000 December 31, 2018 1.040 60,000 $ 62,400 $ 62,400 232,600 December 31, 2019 1.040 55,000 57,200 119,600 175,400 December 31, 2020 1.040 50,000 52,000 171,600 December 31, 2021 1.040 45,000 46,800 218,400 76,600 December 31, 2022 1.040 40,000 41,600 260,000 35,000 Before completing the double-declining balance (DDB) schedule, calculate the double-declining balance rate. SL Depreciation DDB rate rate multiplier = DDB rate This question is complete. Move your cursor over or tap on the red arrows to see incorrect answers. All parts showing Homework: Ch8HW 6 of 6 (6 complete) HW Score: 65.79%, 13 Score: 0.06 of 6 pts P8-48A (similar to) Questio Consider the following: Click the icon to view the information) Read the requirements Before completing the double-declining balance (DOB) schedule, calculate the double declining balance rate SL Depreciation DDB rate multiplier rate x DDB rate 115 Complete the Double-Declining Balance Depreciation Schedule. Begin by filling out the schedule through 2019, and then complete the schedule by entering the amounts through 2022. Double-Declining Balance (DDB) Depreciation Schedule DDB Asset Book Depreciation Accumulated Asset Date Asset Cost Rate Value Expense Depreciation Book Value $ January 1, 2018 S 295,000 295 000 December 31, 2018 2/5 S 295,000 118,000S 118,000 177.000 December 31, 2019 2/5 177.000 70,800 188,800 106,200 December 31, 2020 2/5 105,200 42.480 231,280 63.720 This question is complete. Move your cursor over or tap on the red arrows to see incorrect answers. All parts showing Similar Ques Homework: Ch8HW Score: 0.06 of 6 pts of 6 (6 complete) > HW Score: 65.79%, 13.16 of 20 P8-48A (similar to) Question Help Consider the following: (Click the icon to view the information) Read the requirements 205 December 31, 2021 December 31, 2022 63,7201 38232 25.4881 3 232 2 56,7681 260.000 35,000 Requirement 2. Rus Enterprises, Inc. prepares financial statements using the depreciation method that reports the highest income in the early years of use. For income tax purposes, the company uses the depreciation method that minimizes income taxes in the early years. Consider the first year Ruiz Enterprises, Ine uses the equipment Identity the depreciation methods that meet Ruiz Enterprises objectives, assuming the income tax authorities permit the use of any method The depreciation method that maximizes reported net income in the first year of the computer's life is the straight-line method, which produces the lowest depreciation for that year The method that minimizes income taxes in the first year is the double-declining balance method, which produces the highest depreciation amount for that year DDB Requirement 3. Show how Ruiz Enterprises, Inc., would report equipment on the December 31, 2018, balance sheet for each depreciation method. December 31, 2018 SLUOP Equipment $ 295,000 295,000 295.000 Less: Accumulated depreciation 52,000 62.400 118,000 Net equipment $ 243,000's 232.800's 177.000 This question is complete. Move your cursor over or tap on the red arrows to see incorrect answers All parts showing Similar Question A0 Adana _ _ __ JL LJUJU 11 WAMIMI Wwwww w the information.) sh depreciation method, prepare a depreciation schedule showing asset cost, depreciation expense, accumulated depreciation, and asse uc raig 0 More Info sefu On January 4, 2018, Grayzka Enterprises, Inc., paid $204,500 for equipment used in manufacturing automotive supplies. In addition to the basic purchase price, the company paid $1,100 for transportation charges, $200 for insurance for the equipment while in transit, $11,800 sales tax, and $2,400 for a special platform on which to place the equipment in the plant. Management of Grayzka Enterprises, Inc., estimates that the equipment will remain in service for five years and have a residual value of $20,000. The equipment will produce 60,000 units the first year, with annual production decreasing by 5,000 units during each of the next four years (i.e., 55,000 units in year 2: 50,000 units in year 3; and so on, for a total of 250,000 units). In trying to decide which depreciation method to use, Grayzka Enterprises, Inc., requested a depreciation schedule for each of the three depreciation methods (straight-line, units of production, and double-declining balance). Print Done enter any number in the input fields and then click Check Answer Clear All This question abone is Similar to the one with all details above table/ keyboard... Can You Slease help with explanation? Thank you