Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

On January 1, 2018. a machine was purchased for $107.500. The machine has an estimated salvage value of 54.780 and an estimated useful life of

image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
On January 1, 2018. a machine was purchased for $107.500. The machine has an estimated salvage value of 54.780 and an estimated useful life of 5 years. The machine can operate for 107.000 hours before it needs to be replaced. The company closed its books on December 31 and operates the machine as follows: 2018, 21.400 hrs: 2019.26,750 hrs: 2020, 16,050 hrs 2021, 32,100 hrs; and 2022, 10.700 hrs. our answer is partially Compute the annual depreciation charges over the machine's life assuming a December 31 year-end for each of the following depreciation methods. (Round answers to decimal places, eg. 45,892.) 4. Double-Declining-Balance Method Year 2018 $ 64500 2019 38700 2020 $ $ $ 23220 2021 13932 2022 8359 (b) Assume a fiscal year-end of September 30. Compute the annual depreciation charges over the asset's life applying each of the following methods. (Round answers to decimal places, eg. 45,892.) Year Straight-line Method Double-declining-balance method Sum-of-the-years-digits method $ 2018 2019 2020 2021 2022 2023

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

Horngrens Financial & Managerial Accounting, The Managerial Chapters

Authors: Tracie Miller Nobles, Brenda Mattison

7th Edition

0136503616, 9780136503613

More Books

Students also viewed these Accounting questions

Question

=+Does it present new cocktails or review restaurants?

Answered: 1 week ago

Question

=+Is the message on-strategy?

Answered: 1 week ago