Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Cost basis and amount of depreciation x2. Not sure how to solve. A machine with a cost of $62,300 has an estimated residual value of

Cost basis and amount of depreciation x2. Not sure how to solve.

image text in transcribedimage text in transcribedimage text in transcribed

A machine with a cost of $62,300 has an estimated residual value of $4,930 and an estimated life of 5 years or 16,533 hours. What is the amount of depreciation for the second full year, using the double-declining-balance method? a. $24,920.00 b. $22,948.00 c. $12,460.00 d. $14,952.00 A machine with a cost of $63,235.00 has an estimated residual value of $5,168.00 and an estimated life of 3 years or 14,536 hours. It is to be depreciated by the units-of-output method. What is the amount of depreciation for the second full year, during which the machine was used 3,300 hours? Do not round your intermediate calculations. $13,182.52 $19,355.67 $38,711,33 $14,355.77 A used machine with a purchase price of $38,270, requiring an overhaul costing $9,607, installation costs of $6,870, and special acquisition fees of $9,021, would have a cost basis of a. $47,877 b. $89,266 c. $63,768 d. $38,270 A machine with a cost of $62,300 has an estimated residual value of $4,930 and an estimated life of 5 years or 16,533 hours. What is the amount of depreciation for the second full year, using the double-declining-balance method? a. $24,920.00 b. $22,948.00 c. $12,460.00 d. $14,952.00 A machine with a cost of $63,235.00 has an estimated residual value of $5,168.00 and an estimated life of 3 years or 14,536 hours. It is to be depreciated by the units-of-output method. What is the amount of depreciation for the second full year, during which the machine was used 3,300 hours? Do not round your intermediate calculations. $13,182.52 $19,355.67 $38,711,33 $14,355.77 A used machine with a purchase price of $38,270, requiring an overhaul costing $9,607, installation costs of $6,870, and special acquisition fees of $9,021, would have a cost basis of a. $47,877 b. $89,266 c. $63,768 d. $38,270

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Implementing Database Security And Auditing

Authors: Ron Ben Natan

1st Edition

1555583342, 9781555583347

More Books

Students also viewed these Accounting questions