Question
Current Attempt in Progress Cheyenne Automotive purchased equipment on October 1, 2024, at a total cost of $155,000. The machine has an estimated useful life
Current Attempt in Progress Cheyenne Automotive purchased equipment on October 1, 2024, at a total cost of $155,000. The machine has an estimated useful life of eight years or 100,000 hours, and an estimated residual value of $15,000. During 2024 and 2025, the machinery was used 4,900
and 13,300 hours, respectively. Calculate depreciation expense at December 31, 2024 and December 31, 2025, under the following depreciation methods: (Round answers to 0 decimal places, e.g. 5,275. and Round Depreciation cost per unit to 1 decimal places, e.g. 527.5) Straight-line depreciation Units-of-production depreciation Double diminishing-balance depreciation $ 2024 $ LA $ $ 2025 A
Cheyenne Automotive purchased equipment on October 1, 2024 , at a total cost of $155,000. The machine has an estimated useful life of eight years or 100,000 hours, and an estimated residual value of $15,000. During 2024 and 2025 , the machinery was used 4,900 and 13,300 hours, respectively. Calculate depreciation expense at December 31, 2024 and December 31, 2025, under the following depreciation methods: (Round answers to 0 decimal places, e.g. 5,275. and Round Depreciation cost per unit to 1 decimal places, e.g. 527.5)Step by Step Solution
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