Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

In recent years, Oriol Company has purchand three machines. Because of frequent compayee tumor in the secounting department, a different accountant was in charge of

image text in transcribed

In recent years, Oriol Company has purchand three machines. Because of frequent compayee tumor in the secounting department, a different accountant was in charge of seleng the degradation method for each machine and various methods have been used information concerning the machines bommarized in the table below. Cost Salvage Value Machine 1 Useful Life In years! 8 $12.500 Acquired Jan. 1.2020 July 1, 2021 Nov. 1. 2021 $ 95.300 87,500 24.900 2 3 Depreciation Method Straight line Decliningberce Lita-cf-activity 11.000 8.500 6 For the declining balance method, Orole Company as the double-decliningrata. For the unior-eceky method total mechine hours are expected to be 42.000. Actual hours of use in the first years were 2021, 900 2022. 4700 and 2022. 7.800 For Bus 3, calculas depreciable cost per mile under units-of-selvity method. Depredeblecoat $ Der Textbook and Media Compute the amount of accumules depredalon on each machine December 31, 2023. Accumulated depreciation MACHINE $ MACHINE 2 $ MACHINE 3 5 Textbook and Media Ifmachine was purchased on April 1 natead of July 1 What would be the depreciation for this machine in 2021 in 20229 (1) 2021 (2) 2022 Deprecationen 3 Textbook and Media

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Financial Accounting Cases

Authors: Camillo Lento, Jo-Anne Ryan

3rd Canadian Edition

1119594642, 978-1119594642

More Books

Students also viewed these Accounting questions