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do all of the parts please! More Info On January 4, 2018, Yang Enterprises, Inc., paid $284,700 for equipment used in manufacturing automotive supplies. In
do all of the parts please!
More Info On January 4, 2018, Yang Enterprises, Inc., paid $284,700 for equipment used in manufacturing automotive supplies. In addition to the basic purchase price, the company paid $600 for transportation charges, $200 for insurance for the equipment while in transit, $11,500 sales tax, and $3,000 for a special platform on which to place the equipment in the plant. Management of Yang Enterprises, Inc., estimates that the equipment will remain in service for five years and have a residual value of $25,000. The equipment will produce 65,000 units the first year, with annual production decreasing by 5,000 units during each of the next four years (i.e., 60,000 units in year 2; 55,000 units in year 3; and so on, for a total of 275,000 units). In trying to decide which depreciation method to use, Yang Enterprises, Inc., requested a depreciation schedule for each of the three depreciation methods (straight-line, units of production, and double-declining balance). Complete the Straight-Line Depreciation Schedule. Begin by filling out the schedule through 2019, and then omplete the schedule by entering the amounts through 2022. Straight-Line Depreciation Schedule Depreciation Depreciable Depreciation Accumulated Asset Rate Cost Expense Depreciation Book Value $ 300,000 Date Asset Cost January 4, 2018 $ 300,000 December 31, 2018 1/5 $ 275,000 $ 55,000 $ 55,000 December 31, 2019 1/5 275,000 55,000 110,000Step by Step Solution
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