Help Me Please!

Tableau DA 8-3: Mini-Case, Analyzing straight-line, units-of-production, and double-declining-balance LO P1 The company founder hires us as consultants and asks that we oversee the accounting for new equipment purchased on January 1. The founder wants to know the implications of different depreciation methods and estimates for the company's financial statements. Those statements will be used to attract financing from new investors and creditors. At the end of the equipment's first year in operation, we are given the following Tableau Dashboard Estimated Useful Life of Purchase Price & Estimated Salvage Assets Value Building Equipment 20 Truck $70,000 16 $60,000 $50,000 12 $40,000 Years $30,000 $20,000 $10,000 $0 0 Purchase Salvage Purchase Salvage Purchase Salvage hair Net nie Web Purchase P ook Estimated Useful Life of Assets Ask 20 Build $70,000 Print 16 $60,000 Building: 15 years $50,000 erences 12 $40,000 Years $30,000 8 $20,000 4 $10,000 $0 Purchase s 0 $7 $ $5 $4 $: $2 $. Equipment: 4 years Building Equipment Truck Purch Estimated Useful Life of Assets 20 $70,000 16 $60,000 $50,000 12 $40,000 Years $30,000 00 $20,000 4 Truck: 6 years $0 0 Building Equipment Truck Purchase Price & Estimated Salvage Value Building Equipment Truck $70,000 $60,000 $50,000 Building. Purchase Price: $70,000 $40,000 $30,000 $20,000 $10,000 $0 Purchase Salvage Purchase Salvage Purchase Salvage Price Value Price Value Price Value Purchase Price & Estimated Salvage Value Building Equipment Truck $70,000 $60,000 $50,000 $40,000 $30,000 Jet $20,000 Building Salvage Value: $30,000 $10,000 $0 Purchase Salvage Purchase Salvage Purchase Salvage Price Value Price Value Price Value Purchase Price & Estimated Salvage Value Building Equipment Truck $70,000 $60,000 $50,000 $40,000 $30,000 $20,000 Equipment Purchase Price: $40,000 $10,000 $0 Purchase Salvage Purchase Salvage Purchase Salvage Price Value Price Value Price Value Purchase Price & Estimated Salvage Value Building Equipment Truck $70,000 $60,000 $50,000 $40,000 $30,000 $20,000 $10,000 $0 Equipment Purchase Salvage Purchase Sa Salvage Value: $10,000 Price Value Price Value Price varue Purchase Price & Estimated Salvage Value Building Equipment Truck $70,000 $60,000 $50,000 $40,000 $30,000 $20,000 $10,000 Truck $0 Purchase Price: $30,000 Purchase Salvage Purchase Sarvaye rurunase vaivaye Price Value Price Value Price Value Purchase Price & Estimated Salvage Value Building Equipment Truck $70,000 $60,000 $50,000 $40,000 $30,000 $20,000 $10,000 $0 Purchase Salvage Purchase Salv Price Value Price Va Truck Salvage Value: $5,000 Actual & Estimated Units-of-Production Year 1 Production Actual Year 1 Production: 35,000 units Year 2 Production Estimated Year 3 Production Es dear 4 Production 0 25,000 50,000 75,000 10 Total Units to be produced + ableau etual & Estimated Units-of-Production Actual Estimated Year 2 Production: 55,000 units Estimated Estimated 25,000 50,000 75,000 100,000 125,000 Total Units to be produced ment's first year donrociation under the straight-line method. Estimated Year 3 Production: 25,000 units Estimated 100,000 125,000 50,000 75,000 Total Units to be produced To s-of-Production mated Estimated Estimated Year 4 Production: 5,000 units 100,000 125,000 75,000 s to be produced los r the straight line method +ableau ge TO 1(a). Determine the equipment's first-year depreciation under the straight-line method. 1(b). Determine the equipment's first-year depreciation under the units of production method. Note: Actual units produced for Year 1 were equal to the units estimated to be produced for Year 1. 1(c). Determine the equipment's first-year depreciation under the double-declining balance method. 2. Which method in part 1 results in the highest net income in the first year? 3. If the company anticipates that its use of assets will vary greatly from one year to the next based on usage, which method would we recommend the company use? 4. The founder is concerned that a depreciation method might result in more total depreciation expense over the useful life of an asset than another method. Which method would result in the highest amount of depreciation over an asset's useful life? Complete this question by entering your answers in the tabs below. Requindd 1A Required 18 Required 10 Required 2 Required Required 4 Required 1 Determine the equipment's first-year depreciation under the straight-line method. Straight-Line Method Choose Numerator: Choose Denominator Annual Depreciation Expense = Depreciation expense Required 1B > Complete this question by entering your answers in the tabs below. Required 1A Required 1B Required 10 Required 2 Required 3 Required 4 Determine the equipment's first-year depreciation under the units-of-production method. Note: Actual unit 1 were equal to the units estimated to be produced for Year 1. Units-of-production Depreciation 1 Choose Denominator: Choose Numerator: = Annual Depreciation Expense Depreciation expense per unit 0 = Annual Production (units) Depreciation Expense Year 1 than another method. Which method would result in the highest Complete this question by entering your answers in the tabs below. Required 1A Required 1B Required 10 Required 2 Required 3 Required 4 Which method in part 1 results in the highest net income in the first year? Which method in part 1 results in the highest net income in the first year? Complete this question by entering your answers in the tabs below. Required 1A Required 1B Required 10 Required 2 Requied 3 Required 4 If the company anticipates that its use of assets will vary greatly from one year to the next based on usage, which method would we recommend the company use? Which method would we recommend the company uso? Complete this question by entering your answers in the tabs below. Required 1 Required 18 Required 10 Required 2 Required 3 Requird 4 The founder is concerned that a depreciation method might result in more total depreciation expense over the useful life of an asset than another method. Which method result in the highest amount of depreciation over an asset's useful life? Which method would result in me highest amount of depreciation over an asset's useful life?