Ivanhoe Company purchased equipment on March 27, 2018, at a cost of $264,000. Management is contemplating the merits of using the diminishing-balance or units-of-production method of depreciation instead of the straight-line method, which it currently uses for other equipment. The new equipment has an estimated residual value of $8,000 and an estimated useful life of either four years or 80,000 units. Demand for the products produced by the equipment is sporadic so the equipment will be used more in some years than in others. Assume the equipment produces the following number of units each year: 14,600 units in 2018; 20,600 units in 2019; 19,800 units in 2020; 20,000 units in 2021; and 5,000 units in 2022. Ivanhoe has a December year end.

Solve the problems in the pictures. Better with excel files.

WileyPLUS El ASSIGNMENT RESOURCES lliz 5 Ch.9 & 10 Exercise 9's Problem 10-1A Problem 10-3A Review Score I Results by study Obiective yPLUS: MHwilePLuS | Help | Contact Us | Log out Kimmel, Financial Accounting, Seventh Canadian Edition INTRODUCTION TO ACCOUNTING I-MAJORS(ACTGIP11) ummmmum momma ammm mat Problem 9-4A a-b Ivanhoe Company purchased equipment on March 27, 2013, at a cost of $264,000. Management is contemplating the merits of using the diminishing-balance or units-af-production method of depreciation instead of the straight-line method, which it currently uses for other equipment. The new equipment has an estimated residual value of $8,000 and an estimated useful life of either four years or 80,000 units' Demand for the products produced by the equipment is sporadic so the equipment will be used more in some years than in others. Assume the equipment produces the following number of units each year: 14,600 units in 2018; 20,600 units in 2019; 19,800 units in 2020; 20,000 units in 2021; and 5,000 units in 2022.1vanhoe has a December year end. Prepare separate depreciation schedules for the life of the equipment using: (Round depreciation per unit to 1 decimal places, e. 5.28 and nal answers to 0 decimal places, e.g. 5,175.) Straight-line method: Depreclahle Depreclatlon Accumulated carrying Vear Cost Expense Depreciation Amount #7 218 sgl s 7' s l 2019 l l 2021 l l ii i ll 22i l i ii i ii i' H 2022 l l Double-diminishing-balance method: Opening Carrying Depreciation Accumulated Carrying Year Amount Expense Depreciation Amount si l 218 '3 is i i 2019 i i l i l 2020 l l l l l 221 l l l i l WileyPLUS El ASSIGNMENT RESOURCES lliz 5 (5.1.9 & 10 Exercise 95 Problem 10-1A Problem 10-3A Review score I Results by study Obiective Kimmel, Financial Accounting, Seventh Canadian Edition Doublediminishing-balance method: Opening Carrying Depreciation Accumulated Carrying Year Amount Expense Depreciation Amount sl 213 s! '$ is l l 219 l l l " l l 2020 l l l i l l s 2021 l l l l l 2022 l ' l l l Units0f-pr0ductiori method: Depreciation Accumulated Carrying VearUnits-ofProduction Expense Depreciation Amount sl 2018 yPLUS: MHWiIePLUS | Helg | Contact Us | Log out MESSAGE uv msmucrok suumum vwa mums: vsnsxon l 2019 l 2020 l l 2021 2022 Compare the total depreciation expense and accumulated depreciation under each of the three methods over the life of the equipment. (Round answers ta 0 decimal places, e.g. 5,275.) Straight-Line Unlts-of-Productlon iTDtaldeDreciation expense .l l l Double-DImlnlslIlng-Balance INTRODUCTION TO ACCOUNTING I-MAJORS(ACTGIP11) 4 BACK NEXT > WileyPLUS El Kimmel, Financial Accounting, Seventh Canadian Edition MESSAGE uv msmucrok INTRODUCTION TO ACCOUNTING I-MAJORS(ACTGIP11) ASSIGNMENT RESOURCES lliz 5 (5.1.9 & 10 Exercise as Problem IO-IA Problem 10-3A Review score I Results by study Obiective 2019 l ' 2020 l ' \\ l 2021 l l ' l 2022 l l ' Unis-ofproduction method: Depreciation Accumulated :VearUnits-ofProduction Expense Depreciation J carrying Amount 218 3; s'g' ' 2019 2020 2021 2022 straight-Line Units-ofProductl II Total depreciation expense 5' $ Accumulated depreciation ' Double-Diminishing-Balanoe ' Compare the total depreciation expense and accumulated depreciation under each of the three methods over the life of the equipment. (Round answers to 0 decimal places, e.g. 5,275.) Question Attempls: I) of 1 used yPLUS: MyywilePLuS | HEIE | Contact Us | Lug out snuo'mn vxsw mums: VERSION 4 BACK NEXT > SAVE FOR LATER