Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Please answer A,B, and C Assume Organic Ice Cream Company, Inc., bought a new ice cream production kit (pasteurizer/homogenizer, cooler, aging vat, freezer, and filling

image text in transcribedPlease answer "A,B, and C"

Assume Organic Ice Cream Company, Inc., bought a new ice cream production kit (pasteurizer/homogenizer, cooler, aging vat, freezer, and filling machine) at the beginning of the year at a cost of $20,000. The estimated useful life was four years, and the residual value was $2,360. Assume that the estimated productive life of the machine was 9,800 hours. Actual annual usage was 3,920 hours in Year 1; 2,940 hours in Year 2; 1,960 hours in Year 3; and 980 hours in Year 4. Required: 1. Complete a separate depreciation schedule for each of the alternative methods. a. Straight-line. b. Units-of-production. c. Double-declining-balance. Complete this question by entering your answers in the tabs below. Req 1A Req 1B Req 1C Complete a depreciation schedule using the Straight-line method. (Do not round intermediate calculations.) Year Depreciation Expense Accumulated Depreciation Net Book Value At acquisition

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

Managerial Accounting

Authors: James Jiambalvo

4th edition

9780470546888, 9780470333341, 470546883, 470333340, 978-0470578797

More Books

Students also viewed these Accounting questions

Question

1. Specify (the values for H).

Answered: 1 week ago

Question

2. Initialize (the values in ).

Answered: 1 week ago