Required information

Use the following information for the Quick Studies below. $($Algo$)$

$[$The following information applies to the questions displayed below.$]$

On January $1,$ the Matthews Band pays $$67,000$ for sound equipment. The band estimates it will use this equipment for

five years and perform $200$ concerts. It estimates that after five years it can sell the equipment for $$2,000.$ During the first

year, the band performs $55$ concerts.

QS $8-3($Algo$)$ Straight$-$line depreciation LO P$1$

Compute the first$-$year depreciation using the straight$-$line method.Required information

$[$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

$$85,400.$ The machine's useful life is estimated at $20$ years, or $402,000$ units of product, with a $$5,000$ salvage value.

During its second year, the machine produces $34,200$ units of product.

Determine the machine's second$-$year depreciation and year end book value under the straight$-$line method.