Answered step by step
Verified Expert Solution
Question
1 Approved Answer
I worked it out like the formulas said to and still got it wrong. Im lost The cost of equipment purchased by Whispering, Inc., on
I worked it out like the formulas said to and still got it wrong. Im lost
The cost of equipment purchased by Whispering, Inc., on June 1, 2020, is $100,800. It is estimated that the machine will have a $8,400 salvage value at the end of its service life. Its service life is estimated at 7 years, its total working hours are estimated at 46,200, and its total production is estimated at 577,500 units. During 2020, the machine was operated 6,720 hours and produced 61,600 units. During 2021, the machine was operated 6,160 hours and produced 53,800 units. Compute depreciation expense on the machine for the year ending December 31, 2020, and the year ending December 31, 2021, using the following methods. (Round depreciation per unit to 2 decimal places, e.g. 15.25 and final answers to 0 decimal places, e.g. 45,892.) 2020 2021 (a) Straight-line 13200 13200 $ 12320 (b) Units-of-output 13440 6720 6160 (c) Working hours 23100 $ 19800 (d) Sum-of-the-years-digits 26400 26400 (e) Double-declining-balance (twice the straight-line rate) $ e Textbook and Media e Textbook Attematsalased Sots Ad A d Shit Ano 2.30 PM of 12/2/2019 POD Home Ends PgUp Presen Dll Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started