! Required information [The following information applies to the questions displayed below.] Exact Photo Service purchased a new color printer at the beginning of Year 1 for $35,840. The printer is expected to have a four-year useful life and a $3,500 salvage value. The expected print production is estimated at $1,774,600 pages. Actual print production for the four years was as follows: Year 1 Year 2 Year 3 Year 4. Total 549, 100 481,500 379,300 386,700 1,796,600 The printer was sold at the end of Year 4 for $3,700. Required: a. Compute the depreciation expense for each of the four years, using double-declining-balance depreciation. Note: Do not round intermediate calculations. Round your answers to the nearest whole dollar amount. Year 1 Year 2 Year 3 Year 4 Total accumulated depreciation Depreciation Expense $ 0 Check my work
Required information [The following information applies to the questions displayed below.] Exact Photo Service purchased a new color printer at the beginning of Year 1 for $35,840. The printer is expected to have a four-year useful life and a $3,500 salvage value. The expected print production is estimated at $1,774,600 pages. Actual print production for the four years was as follows: The printer was sold at the end of Year 4 for $3,700. Required: a. Compute the depreciation expense for each of the four years, using double-declining-balance depreclation. Note: Do not round intermediate calculations. Round your answers to the nearest whole dollar amount. Required information [The following information applies to the questions displayed below] Exact Photo Service purchased a new color printer at the beginning of Year 1 for $35,840. The printer is expected to have a four-year useful life and a $3,500 salvage value. The expected print production is estimated at $1,774,600 pages. Actual print production for the four years was as follows: The printer was sold at the end of Year 4 for $3,700. b. Compute the depreciation expense for each of the four years, using units-of-production depreciation. Note: Round cost per unit to three decimal places and final answers to the nearest whole dollar amount. Required information [The following information applies to the questions displayed below] Exact Photo Service purchased a new color printer at the beginning of Year 1 for $35,840. The printer is expected to have a four-year useful life and a $3,500 salvage value. The expected print production is estimated at $1,774,600 pages. Actual print production for the four years was as follows: The printer was sold at the end of Year 4 for $3,700. c. Calculate the amount of gain or loss from the sale of the asset under each of the depreciation methods. Un Company sold office equipment with a cost of $44,960 and accumulated depreciation of $40,580 for $6,470. Required a. What is the book value of the asset at the time of sale? b. What is the amount of gain or loss on the disposal? c. How would the sale affect net income (increase, decrease, no effect) and by how much? d. How would the sale affect the amount of totat assets shown on the balance sheet (increase, decrease, no effect) and by how much? e. How would the event affect the statement of cash fows (increase, decrease, no effect) and in what section? Bill's Wrecker Service has just completed a minor repair on a tow truck. The repair cost was $910, and the book value prior to the repair was $4,970. In addition, the company spent $8,000 to replace the roof on a building. The new roof extended the life of the bullding by five years. Prior to the roof replacement, the company's accounts reflected the Building account at $85,100 and related Accumulated Depreciation account at $40,700. Required: After the work was completed, what book value should appear on the balance sheet for the tow truck and the building