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please solve thank u Duluth Ronch, Incorporated purchased a machine on January 1, 2021. The cost of the machine was $21,500. Its estimated residual value
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Duluth Ronch, Incorporated purchased a machine on January 1, 2021. The cost of the machine was $21,500. Its estimated residual value was $6,500 at the end of an estimated 5-year life. The company expects to produce a total of 10,000 units. The company produced 850 units in 2021 and 1,300 units in 2022. Required: a. Calculate depreciation expense for 2021 and 2022 using the straight-line method. b. Calculate the depreciation expense for 2021 and 2022 using the units-of-production method. c. Calculate depreciation expense for 2021 through 2025 using the double-declining balance method. Complete this question by entering your answers in the tabs below. Required A Required B Required Calculate depreciation expense for 2021 and 2022 using the straight-line method. 2021 2022 Depreciation Expense Per Year Required 3 > Duluth Ranch, Incorporated purchased a machine on January 1, 2021. The cost of the machine was $21,500. Its estimated residual value was $6,500 at the end of an estimated 5-year life. The company expects to produce a total of 10,000 units. The company produced 850 units in 2021 and 1,300 units in 2022 Required: a. Calculate depreciation expense for 2021 and 2022 using the straight-line method. b. Calculate the depreciation expense for 2021 and 2022 using the units-of-production method. c. Calculate depreciation expense for 2021 through 2025 using the double-declining balance method. Complete this question by entering your answers in the tabs below. Required A Required B Required Calculate the depreciation expense for 2021 and 2022 using the units-of-production method. (Do not round your intermediate calculations. Round your final answers to the nearest whole dollar) 2021 2022 Depreciation Expense Duluth Ranch, Incorporated purchased a machine on January 1, 2021. The cost of the machine was $21,500. Its estimated residual value was $6,500 at the end of an estimated 5-year life. The company expects to produce a total of 10,000 units. The company produced 850 units in 2021 and 1,300 units in 2022. Required: a. Calculate depreciation expense for 2021 and 2022 using the straight-line method. b. Calculate the depreciation expense for 2021 and 2022 using the units-of-production method. c. Calculate depreciation expense for 2021 through 2025 using the double-declining balance method. Complete this question by entering your answers in the tabs below. Required A Required B Required C Calculate depreciation expense for 2021 through 2025 using the double-declining balance method. (Round your final answers to nearest whole dollar.) 2021 2022 2023 2024 2025 Depreciation Expense Step by Step Solution
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