Required information Use the following information for the Exercises below. [The following information applies to the questions displayed below: J Ramirez Company installs a computerized manufacturing machine in its factory at the beginning of the year at a cost of $84,200. The machine's useful life is estimated at 20 years, or 391,000 units of product, with a $6,000 salvage value. During its second year. the machine produces 33,100 units of product. Exercise 8-4 Straight-line depreciation LO P1 Determine the machine's second-year depreciation and year end book value under the straight-line method. I I - - Exercise 8-2 Recording costs of assets LO C1 Gale Manufacturing purchases land for $345,000 as part of its plans to build a new plant. The company pays $36,000 to tear down an old building on the lot and $53,217 to fill and level the lot. It also pays construction costs $1,430,600 for the new building and $90,304 for lighting and paving a parking area. Prepare a singlejournal entry to record these costs incurred by Cala, all of which are paid in cash. View transaction list Viewjournal entry worksheet Required information Use the following information for the Exercises below. [The following information applies to the questions displayed below.] On April 1, Cyclone's Co. purchases a trencher for $304,000. The machine is expected to last five years and have a salvage value of $52,000. Exercise 8-11 Straight-line, partial-year depreciation LO C2 Compute depreciation expense at December 31 for the first and second year assuming the company uses the straight- line method. Choose Numerator: Choose Denominator: = Annual Depreciation = Annual depreciation 1 0 Year Annual Depreciation Fraction of Year Depreciation X Expense First year X Second year XRequired information Use the following information for the Exercises below. [T he following information applies to the questions displayed below: J Ramirez Company installs a computerized manufacturing machine in its factory at the beginning of the year at a cost of $84,200. The machine's useful life is estimated at 20 years, or 391,000 units of product, with a $6,000 salvage value. During its second year, the machine produces 33,100 units of product. Exercise 8-5 Units-of-production depreciation LO P1 Determine the machine's second-year depreciation using the units-of-production method. -l_ Required information Use the following information for the Exercises below. [The following information applies to the questions displayed below.] On April 1, Cyclone's Co. purchases a trencher for $304,000. The machine is expected to last five years and have a salvage value of $52,000. Exercise 8-12 Double-declining-balance, partial-year depreciation LO C2 Compute depreciation expense at December 31 for both the first year and second year assuming the company uses the double-declining-balance method. (Enter all amounts as positive values.) Depreciation for the Period End of Period Beginning of Annual Period Period Book Depreciation Partial Depreciation Accumulated Rate Year Expense Depreciation Book Value Value Year 1 0 C Year 2 0 0Exercise 8-13 Revising depreciation LO C2 Apex Fitness Club uses straight-line depreciation for a machine costing $28,500. with an estimated four-year life and a $2,050 salvage value. At the beginning ofthe third year, Apex determines that the machine has three more years of remaining useful life, after which it will have an estimated $1,600 salvage value. Required: 1. Compute the machine's book value at the end of its second year. 2. Compute the amount of depreciation for each of the final three years given the revised estimates. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute the amount of depreciation for each of the nal three years given the revised estimates. (Do not round intermediat Required information Use the following information for the Exercises below. [The following information applies to the questions displayed below.] Ramirez Company installs a computerized manufacturing machine in its factory at the beginning of the year at a cost of $84,200. The machine's useful life is estimated at 20 years, or 391,000 units of product, with a $6,000 salvage value. During its second year, the machine produces 33,100 units of product. Exercise 8-6 Double-declining-balance depreciation LO P1 Determine the machine's second-year depreciation using the double-declining-balance method. Double-declining-balance Depreciation Choose Factors: X Choose Factor(%) = Annual Depreciation Expense X Depreciation expense First year's depreciation X = Second year's depreciation X
