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need help with acc/291 week 3 assignment 9-7a? Problem 9-7A In recent years, Farr Company has purchased three machines. Because of frequent employee turnover in

need help with acc/291 week 3 assignment 9-7a?

Problem 9-7A In recent years, Farr Company has purchased three machines. Because of frequent employee turnover in the accounting department, a different accountant was in charge of selecting the depreciation method for each machine, and various methods have been used. Information concerning the machines is summarized in the table below.
Machine Acquired Cost Salvage Value Useful Life (in years) Depreciation Method
1Jan. 1, 2012$135,000$44,1009Straight-line
2July 1, 201389,00012,0005Declining-balance
3Nov. 1, 2013112,8708,4707Units-of-activity
For the declining-balance method, Farr Company uses the double-declining rate. For the units-of-activity method, total machine hours are expected to be36,000. Actual hours of use in the first 3 years were: 2013,620; 2014,4,930; and 2015,6,440.
Compute the amount of accumulated depreciation on each machine at December 31, 2015.
MACHINE 1 MACHINE 2 MACHINE 3
Accumulated Depreciation at December 31 $ $ $
LINK TO TEXT LINK TO TEXT
If machine 2 was purchased on April 1 instead of July 1, what would be the depreciation expense for this machine in 2013? In 2014?
2013 2014
Depreciation Expense $ $
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image text in transcribed Problem 9-7A In recent years, Farr Company has purchased three machines. Because of frequent employee turnover in the accounting department, a different accountant was in charge of selecting the depreciation method for each machine, and various methods have been used. Information concerning the machines is summarized in the table below. Machine 1 2 3 Acquired Jan. 1, 2012 July 1, 2013 Nov. 1, 2013 Cost $135,000 89,000 112,870 Salvage Value $44,100 12,000 8,470 Useful Life (in years) 9 5 7 Depreciation Method Straight-line Declining-balance Units-of-activity For the declining-balance method, Farr Company uses the double-declining rate. For the units-ofactivity method, total machine hours are expected to be 36,000. Actual hours of use in the first 3 years were: 2013, 620; 2014, 4,930; and 2015, 6,440. Compute the amount of accumulated depreciation on each machine at December 31, 2015. MACHINE 1 $ MACHINE 2 $ MACHINE 3 $ Accumulated Depreciation at December 31 LINK TO TEXT LINK TO TEXT If machine 2 was purchased on April 1 instead of July 1, what would be the depreciation expense for this machine in 2013? In 2014? 2013 2014 $ $ Depreciation Expense LINK TO TEXT Question Attempts: 0 of 3 used

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