Question
Required information [The following information applies to the questions displayed below.) One Stop Copy purchased a new copy machine. The new machine cost $108,000
Required information [The following information applies to the questions displayed below.) One Stop Copy purchased a new copy machine. The new machine cost $108,000 including installation. The company estimates the equipment will have a residual value of $27,000. One Stop Copy also estimates it will use the machine for four years or about 8,000 total hours. Actual use per year was as follows: Year 1 1234 Hours Used 3,000 2,000 1,600 2,400 Required: 1. Prepare a depreciation schedule for four years using the straight-line method. (Do not round your intermediate calculations.) ONE STOP COPY Depreciation Schedule-Straight-Line End of Year Amounts Depreciation Accumulated. Year Book Value Expense Depreciation. 1 $ 20,250 $ 20,250 $ 87,750 2 20,250 40,500 67,500 3 20,250 60,750 47,250 4 20,250 81,000 27,000 Total $ 81,000
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started