Question
On January 1, 2014, Courier Inc. purchased new equipment that had a total cost (including shipping and installation) of $83,000. The equipment is expected to
On January 1, 2014, Courier Inc. purchased new equipment that had a total cost (including shipping and installation) of $83,000. The equipment is expected to have a useful life of four years or produce a total of 123,000 units. At the end of its life, the equipment is expected to have a residual value of $4,300. The equipment is expected to produce 22,140 units in 2014; 31,980 units in 2015; 31,980 units in 2016; and 36,900 units in 2017. Courier Inc.'s fiscal year ends on December 31.
In the table below, fill in the missing depreciation expense and accumulated depreciation amounts using the straight-line, double-declining-balance, and units-of-production methods. Do not round your intermediate calculation. When required, round your answers to the nearest dollar.
Cost $83,000 | Depreciation Expense | Accumulated Depreciation | ||||
---|---|---|---|---|---|---|
Year | Straight-line Method | Double- Declining- Balance Method | Unit-of- Production Method | Straight-line Method | Double- Declining- Balance Method | Unit-of- Production Method |
2014 | $. ???? | $41,500 | $14,166 | $19,675 | $41,500 | $14,166 |
2015 | $19,675 | $ ???? | $20,462 | $ ???? | $62,250 | $34,628 |
2016 | $19,675 | $10,375 | $ ???? | $59,025 | $ ???? | $55,090 |
2017 | $19,675 | $6,075 | $23,610 | $78,700 | $78,700 | $. ???? |
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