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Could you find the terms 2018 and 2019 in part b? Mocha Maria purchased a cotlee drink machine on January 1, 2018, for $67,000. Expected
Could you find the terms 2018 and 2019 in part b?
Mocha Maria purchased a cotlee drink machine on January 1, 2018, for $67,000. Expected usetul afe is 10 years or 120,000 drinks in 2018,2,000 drinks were sold, and in 2019,17,000 drinks ware sold. Residual value is $7,000. Read the recuitemonts Requirement 1. Deterrrine the depreciation expense for 2018 and 2019 using the following methods: (a) Straight-line (SL), (b) Unis of producton (UOP), and (c) Double-decining-bulance (DOB). For each method (starting with (a) the straight-line method), select the appropriate formula nooded to compute annual depreciation and then desermine depreciation expense under that maniod for 2018 and 2019 . (Round arry depreciation expense per unit amounts to the neurest cent and af other amounts to the nearest wholo dilar) Mocha Mania purchased a coflee drink machine on January 1, 2018, for 967,000 . Expected useful afe is 10 years or 120,000 drinks. In 2018,2,000 drinks were sold, and in 2019,17,000 drinks were sold. Residual value is $7.000. Rend the Requirement 1. Determine the depreciation expense for 2018 and 2019 using the following methods: (a) 5vaight-line (SL), (B) Units of producton (UOP) and (C) Double-declining-balance (OD8) For each method (starting with (o) the straight-line method), seloct the appropriate formula needed to compute annual depreciabion and then delermine depreciation expense under that method for. 2018 and 2019 . (Round any deprociation ewpense per unt amounts to the nearest cent and at other amounts to the nearest whole dolat)? Requirements 1. Determine the depreciation expense for 2018 and 2019 using the following methods: a. Straight-line b. Units-of-production c. Double-declining-balance 2. Prepare a schedule that shows annual depreciation expense, accumulated depreciation, and book value for 2018 and 2019 using the following methods: a. Straight-line b. Units-of-production c. Double-declining-balance 3. Assume that Mocha Mania sold the equipment for $46,000 cash on July 1 , 2020. Assume that management has depreciated the equipment by using the double-declining-balance method. Record Mocha Mania's depreciation for 2020 and the sale of the equipment on July 1,2020 Step by Step Solution
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