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Please help me with the second question!! Thank you!! 2. Kaxi Koal Company, Inc. purchased a new mining machine at a total cost of $1,530,000
Please help me with the second question!! Thank you!!
2. Kaxi Koal Company, Inc. purchased a new mining machine at a total cost of $1,530,000 on the first day of its fiscal year. The firm estimates that the machine has a useful life of six years or 6,000,000 tons of coal and a residual value of $90,000 at the end of its useful life. The following schedule indicates the actual number of tons of coal mined with the machine per year: (Click the icon to view the schedule.) Read the requirements Requirement a. Prepare the depreciation schedule for the machine assuming that Kaxi Koal used the straight-line method. Year Depreciation Expense 240,000 $ 240,000 240,000 240,000 240,000 240,000 Original Cost 1,530,000 1,530,000 1,530,000 1,530,000 1,530,000 1,530,000 End-of-Year End-of-Year Accumulated Net Book Value Depreciation (NBV) $ 240,000 $ 1,290,000 480,000 1,050,000 720,000 810,000 960,000 570,000 1,200,000 330,000 1,440,000 90,000 1,440,000 Total Requirement b. Prepare the depreciation schedule for the machine assuming that Kaxi Koal used the units-of-output method. (Enter the rate per unit to the nearest cent. Enter all other amounts to the nearest dollar.) Tons Rate of per Year Coal Unit 630000 Depreciation Expense 151200 326400 379200 Original Cost 1530000 1530000 1530000 1530000 1530000 1360000 1580000 950000 End-of-Year | Accumulated Depreciation 151200 477600 856800 1084800 1279200 144000 End-of-Year Net Book Value (NBV) 1378800 1052400 673200 445200 228000 810000 194400 250800 670000 160800 1530000 90000 1440000 TotalStep by Step Solution
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