Question 1.

Question 2.

Question 3.

Wildhorse Company purchased equipment on account on September 3,2022 , at an invoice price of $190,000. On September 4, 2022, it paid $4,700 for delivery of the equipment. A one-year, $1,945 insurance policy on the equipment was purchased on September 6 , 2022. On September 20,2022 , Wildhorse paid $3,300 for installation and testing of the equipment. The equipment was ready for use on October 1, 2022. Wildhorse estimates that the equipment's useful life will be four years, with a residual value of $13,000. It also estimates that, in terms of activity, the equipment's useful life will be 74,000 units. Wildhorse has a September 30 fiscal year end. Assume that actual usage is as follows: Lindy Weink, the new controller of Cullumber Company, has reviewed the expected useful lives and residual values of selected depreciable assets at December 31, 2024. (Depreciation for 2024 has not been recorded yet.) Her findings are as follows: After discussion, management agrees to accept Lindy's proposed changes. All assets are depreciated by the straight-line method. Cullumber Company has a December 31 year end. (a) Your answer has been saved. See score details after the due date. Calculate the depreciation expense under the units-of-production method for 2024, assuming machine usage was 1,200 hours. (Round depreciable arnount per unit to 2 decimal places, eg. 15.25 and final answer to 0 decimal places, eg. 2, 125.) eTextbook and Media Attempts: 0 of 1 used (c) The parts of this question must be completed in order. This part will be available when you complete the part above. Carla Vista Company purchased a new machine on October 1,2024 , at a cost of $150,000. The company estimated that the machine will have a residual value of $14,100. The machine is expected to be used for 10,000 working hours during its 5 -year life. Carla Vista Company's year-end is December 31. (a) Your answer has been saved. See score details after the due date. Calculate the depreciation expense under the straight-line method for 2024. eTextbook and Media Which method would result in the highest profit for the year ended September 30,2024 ? Which method would result in the highest profit over the life of the asset? eTextbook and Media Attempts: 0 of 1 used Calculate the carrying amount of each asset as at January 1,2024. 3. UNITS-OF-PRODUCTION 1. STRAIGHT-LINE DEPRECIATION 2. DOUBLE DIMINISHING-BALANCE DEPRECIATION