Question
Exact Photo Service purchased a new color printer at the beginning of Year 1 for $36,640. The printer is expected to have a four-year useful
Exact Photo Service purchased a new color printer at the beginning of Year 1 for $36,640. The printer is expected to have a four-year useful life and a $3,100 salvage value. The expected print production is estimated at $1,769,300 pages. Actual print production for the four years was as follows:
Year 1 | 545,100 | ||
Year 2 | 479,100 | ||
Year 3 | 378,600 | ||
Year 4 | 390,500 | ||
Total | 1,793,300 | ||
The printer was sold at the end of Year 4 for $3,550.
I got wrong and I don't understand why. please show work
Required a. Compute the depreciation expense for each of the four years, using double-declining-balance depreciation. (Do not round intermediate calculations. Round your answers to the nearest whole dollar amount.)
! Required information [The following information applies to the questions displayed below.) Exact Photo Service purchased a new color printer the beginning of Year 1 for $36,640. The printer is expected to have a four-year useful life and a $3,100 salvage value. The expected print production is estimated at $1,769,300 pages. Actual print production for the four years was as follows: Year 1 545, 100 Year 2 479, 100 Year 3 378,600 Year 4 390,500 Total 1,793,300 The printer was sold at the end of Year 4 for $3,550. Required a. Compute the depreciation expense for each of the four years, using double-declining-balance depreciation. (Do not round intermediate calculations. Round your answers to the nearest whole dollar amount.) Year 1 Year 2 Year 3 Year 4 Total accumulated depreciation Depreciation Expense $ 10,333 9,082 7,177 7,403 $ 33,995Step by Step Solution
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