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just wanted to make sure i got the correct answers. please provide work along with answers Question 5 Given the following information regarding Company is
just wanted to make sure i got the correct answers. please provide work along with answers
Question 5 Given the following information regarding Company is purchase of equipment on January 1, 2012 complete the following depreciation schedules (round to the nearest whole dollar) Cost Salvage (residual) value Estimated life Estimated units of production $60,000 $ 2,000 5 years 100,000 units Year A Assume Company T uses the double declining balance method: Calculations Depreciation Accumulated Expense Depreciation 2012 (60K):75 24.000 24.000 2013 (LOK-24k)? 23.400 46400 End-of-year Book Value 3.000 13,000 B Year Assume Company T uses the units of production method: (Actual units were: 20,000 in 2012; 40,000 in 2013) Depreciation Accumulated Calculations Expense Depreciation 381/ 100 Joox . 53/unt. 30,000 1,600 11,000 .58.40,000 23,300 34.800 End-of-year Book Value 2012 2013 46,400 23200 C T Assume Company T uses the sum-of-the-years-digits method: Depreciation Year Calculations 5-[(5+017] Accumulated Expense Depreciation End-of-year Book Value 2012 172(601-2K)- 5715 2013%2: (LOK - 2K)-45 1212- (- 19,333 15,447 19,333 40,667 25,200 34.800 D Assume Company T uses the straight-line method: Depreciation Year Calculations Expense Accumulated Depreciation End-of-year Book Value 2012 /28 - 11.000 Il LOO 2013 Look - 2K 24/5 11.600 23.200 36,800 Step by Step Solution
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