Exact Photo Service purchased a new color printer at the beginning of Year 1 for $39,600....
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Exact Photo Service purchased a new color printer at the beginning of Year 1 for $39,600. The printer is expected to have a four-year useful life and a $3,960 salvage value. The expected print production is estimated at 1,500,000 pages. Actual print production for the four years was as follows: Year 1 546,000 Year 2 478,900 Year 3 381,500 Year 4 391,800 Total 1,798,200 The printer was sold at the end of Year 4 for $4,160. Required a. Compute the depreciation expense for each of the four years, using double-declining-balance depreciation. b. Compute the depreciation expense for each of the four years, using units-of-production depreciation. c. Calculate the amount of gain or loss from the sale of the asset under each of the depreciation methods. Required A Required B Required C Compute the depreciation expense for each of the four years, using double-declining-balance depreciation. (Do not round your intermediate calculations. Round final answers to the nearest whole dollar amount.) Double- Declining Balance Year $ 19,800 1X2X3 Year 69 9,900 Year $ 4,950 Year S 3,960 4 Required A Required B Required C the tabs below. Compute the depreciation expense for each of the four years, using units-of-production depreciation. (Round cost per unit to three decimal places. Round other intermediate calculations and your final answers to the nearest dollar) Units-of- Production Year 1 $ 12,973 Year 2 $ 15,248 Year 3 $ 6,184 Year 4 $ 3,960 < Required A Required C > Required A Required B Required C Calculate the amount of gain or loss from the sale of the asset under each of the depreciation methods. (Amounts to be deducted should be indicated with minus sign.) Depreciation Methods Amount Double-Declining Balance Units-of-Production Effect < Required B Required C> Exact Photo Service purchased a new color printer at the beginning of Year 1 for $39,600. The printer is expected to have a four-year useful life and a $3,960 salvage value. The expected print production is estimated at 1,500,000 pages. Actual print production for the four years was as follows: Year 1 546,000 Year 2 478,900 Year 3 381,500 Year 4 391,800 Total 1,798,200 The printer was sold at the end of Year 4 for $4,160. Required a. Compute the depreciation expense for each of the four years, using double-declining-balance depreciation. b. Compute the depreciation expense for each of the four years, using units-of-production depreciation. c. Calculate the amount of gain or loss from the sale of the asset under each of the depreciation methods. Required A Required B Required C Compute the depreciation expense for each of the four years, using double-declining-balance depreciation. (Do not round your intermediate calculations. Round final answers to the nearest whole dollar amount.) Double- Declining Balance Year $ 19,800 1X2X3 Year 69 9,900 Year $ 4,950 Year S 3,960 4 Required A Required B Required C the tabs below. Compute the depreciation expense for each of the four years, using units-of-production depreciation. (Round cost per unit to three decimal places. Round other intermediate calculations and your final answers to the nearest dollar) Units-of- Production Year 1 $ 12,973 Year 2 $ 15,248 Year 3 $ 6,184 Year 4 $ 3,960 < Required A Required C > Required A Required B Required C Calculate the amount of gain or loss from the sale of the asset under each of the depreciation methods. (Amounts to be deducted should be indicated with minus sign.) Depreciation Methods Amount Double-Declining Balance Units-of-Production Effect < Required B Required C>
Expert Answer:
Posted Date:
Students also viewed these accounting questions
-
What are decision support systems, and what role do they play in the business environment?
-
Information about four investment proposals summarized here Required: Calculate the present value ratio of each proposal and indicate which proposal is the most desirable investment. Proposal 2 3. 4....
-
A conducting filament carries current I from point A(0, 0, ?) to point 5(0, 0, b). Show that at point P(x, y, 0), b. 47 Vx + y x + y? + + y? + b?
-
If the plumber does not remove the clog, then the homeowner will not pay the plumber. Write the negation of each statement below.
-
Rick Hall owns a card shop, Halls Cards. The following cash information is available for the month of August 2016. As of August 31, the bank statement shows a balance of $16,140. The August 31...
-
. Econ. 139 (Harmon) Illustration #3a Pepsi Co., which is a calendar??year??reporting company, purchased 90% of the common stock of Sprite Co. for $270,000 on 1l1f20. On the acquisition date, the ...
-
from the article, Cohen, G. L. Garcia, J., Purdie-Vaughns, V., Apfel, N., & Brzustoski, P. (2009). Recursive processes in self-affirmation: Intervening to close the minority achievement gap. Science,...
-
What is the Gross Profit for the best case scenario? What is the Income from Operations for the best case scenario? What is the Gross Profit for the most likely scenario? What is the Income from...
-
The Workers' Rights Act 2019 provides for both Civil and Criminal actions in case of breach by an employer or employee. Discuss and analyse the different Civil and Criminal actions that may be taken...
-
21. (4 pts) What will the following for loop write to the console? for(i=0; i < 10; i-i+2) console.log(i+ " "); { } 22. (3 pts) Write a function that takes in one parameter and sets the background...
-
Two physics students are playing catch with a baseball in the Polonski Common. One throws the ball to the other but, overshoot and the ball lands on the library roof instead. The ball left the...
-
The shopping mall has been an important part of the US retailing landscape for decades. The importance of malls in American culture is also illustrated by the number of movies and TV shows that fully...
-
The stream function for a certain incompressible flow field is given by the expression = -Ur sin + q/2. (a) Obtain an expression for the velocity field. (b) Find the stagnation point(s) where | V |...
-
The roof of a refrigerated truck compartment is of composite construction, consisting of a layer of foamed urethane insulation (t2 = 50 mm, ki = 0.026 W/m K sandwiched between aluminum alloy panels...
-
Consider the following three-player game in strategic form. Each player has two strategies: Player I has the strategies \(T\) and \(B\) (the top and bottom row), player II has the strategies \(l\)...
-
Consider the following \(3 \times 3\) game. (a) Identify all pairs of strategies where one strategy weakly dominates the other. (b) Assume you are allowed to remove a weakly dominated strategy of...
-
Consider the following game tree. As always, the top payoffs at a leaf are for player I and bottom payoffs for player II. (a) What is the number of strategies of player I and of player II? (b) How...
Study smarter with the SolutionInn App