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dont know how to find C 2. On January 1, Clayton Cranes purchased a crane for $82,000. Clayton expects the crane to remain useful for
dont know how to find C
2. On January 1, Clayton Cranes purchased a crane for $82,000. Clayton expects the crane to remain useful for four years (1,200,000 lifts, and to have a residual value of $10,000. The company expects the crane to be used for 160,000 lifts the first year. Read the requirements, Begin by selecting the formula to calculate the company's first-year depreciation on the crare using the straight-line method. Then enter the Cost Residual value Current year usage = Straight-line depreciation 82,000 - 10,000 4 = 18,000 i Requirements b. Compute the first-year depreciation expense on the crane using the units-of-production method. Compute the first-year depreciation expense on the crane using the following methods: Before calculating the first-year depreciation on the crane using the units-of-production method, calculate the depreciation expense per uni depreciation per unit to two decimals, X.XX.) a. Straight-line b. Units-of-production (Round depreciation per unit to two decimals. Round depreciation expense to the nearest whole dollar.) ) Cost 82,000 . - Residual value 10.000 Useful life in units 1,200,000 = Depreciation per unit = 0.06 Compute the first year and second-year depreciation expense on the crane using the following method: c. Double-declining balance (Round depreciation expense to the nearest whole dollar.) Now, select the formula, enter the amounts, and calculate the company's first-year depreciation on the crane using the units-of-production method. (Round depreciation expense to the nearest whole dollar.) Depreciation per unit Useful life 160,000 x x = = Units-of-production depreciation 9,600 0.06 Print Done c. Compute the first-year and second-year depreciation expense on the crane using the double-declining balance method. Begin by selecting the formula to calculate the company's first-year and second-year depreciation on the crane using the double-declining-balance method. Then enter the amounts and calculate the depreciation for the first year. Finally, enter the amounts and calculate the depreciation for the second year. (Enter "o for items with a zero value. Do not round the interim calculation. Round depreciation expense to the nearest whole dollar) Double-declining- balance depreciation Cost - Residual value ) x 2 x (1/Useful life) - Yrt 82.000Step by Step Solution
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