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 $102,100. The company estimated that the machine was a salvage value

image text in transcribed
Pharoah Company purchased a new machine on October 1 2022. at a cost of $102,100. The company estimated that the machine was a salvage value of $6.220. The machine is expected to be used for 94,000 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 method e Textbook and Media Calculate the depreciation cost per hour (Round answer to 2 decimal places, eg $1251 Depreciation cost per hour Units-of-activiteter 2022. assuming machine were 18:40 heurs (Round answer to O decimal places, eg, 5.2250 Deprecation using the Unitect-sctivity methode

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

Intermediate Accounting Volume 2

Authors: Thomas Beechy, Joan Conrod, Elizabeth Farrell, Ingrid McLeod-Dick

7th Edition

1259108023, 9781259108020

More Books

Students also viewed these Accounting questions