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I need help completing PART A.2. I have completed part A.1 and provided the correct answers in the screenshots below (the first two screenshots). The
I need help completing PART A.2. I have completed part A.1 and provided the correct answers in the screenshots below (the first two screenshots). The last two screenshots are part A.2.
On April 22, 2023, Cullumber Enterprises purchased equipment for $132,000. The company expects to use the equipment for 12,000 working hours during its four-year life and that it will have a residual value of $12,000. Cullumber has a December 31 year end and pro-rates depreciation to the nearest month. The actual machine usage was: 1,300 hours in 2023;2,900 hours in 2024;3,800 hours in 2025;2,800 hours in 2026; and 1,400 hours in 2027. (a1) Prepare a depreciation schedule for the life of the asset under the straight-line method. (Round partial-period depreciation rate to 4 decimal palces, e.g. 15.2563% and other answers to 0 decimal places, e.g. 5,276 .) Prepare a depreciation schedule for the life of the asset under the straight-line method. (Round partial-period depreciation rate to 4 decimal palces, e.g. 15.2563% and other answers to 0 decimal places, e.g. 5,276.) Prepare a depreciation schedule for the life of the asset under the double diminishing-balance method. (Round partial-period depreciation rate to 4 decimal palces, e.g. 15.2563% and other answers to 0 decimal places, e.g. 5,276 .) Prepare a depreciation schedule for the life of the asset under the double diminishing-balance method. (Round partial-period depreciation rate to 4 decimal palces, e.g. 15.2563% and other answers to 0 decimal places, e.g. 5,276.)Step by Step Solution
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