Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Pharoah Company purchased a new machine on October 1, 2022, at a cost of $80,100. The company estimated that the machine has a salvage value

image text in transcribed
Pharoah Company purchased a new machine on October 1, 2022, at a cost of $80,100. The company estimated that the machine has a salvage value of $7,380. The machine is expected to be used for 72,000 working hours during its 10-year life. Compute depreciation using the following methods in the year indicated. Declining balance using double the straight line rate for 2022 and 2023. 2022 2023 Depreciation using the Declining balance methods Calculate the depreciation cost per hour. (Round answer to 2 decimal places, .. $1.25) Depreciation cost per hour Units-of-activity for 2022, assuming machine usage was 500 hours. (Round answer to 0 decimal places, e.g. 5,275.) Depreciation using the Units-of-activity method for 2022

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

Budgeting And Financial Management For Nonprofit Organizations Using Money To Drive Mission Success

Authors: Lynne A. Weikart, Greg G. Chen, Edward M. Sermier

1st Edition

1608716937, 978-1608716937

More Books

Students also viewed these Accounting questions

Question

What role do graphics play in an investigation?

Answered: 1 week ago

Question

How to sketch the process layout for a event planning buffet

Answered: 1 week ago