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Same question, different methods, got part of the answer right *Round all answers to the nearest dollar. Your company buys a tower crane for $900,000
Same question, different methods, got part of the answer right
*Round all answers to the nearest dollar. Your company buys a tower crane for $900,000 on January 1, 2019. It has a 20 year life, it's expected salvage value is $20,000, and total estimated usage is 20,000 hours. Assuming you use double declining balance: What is depreciation in 2019? $ What is book value after the adjusting entry is recorded in 2019? $ What is depreciation in 2020? $ What is the value of accumulated depreciation in 2020 after the adjusting entry is made? $ * With the exception of rate per hour enter all numbers to the nearest dollar. For example 1,956.34 should be input as 1956. Your company buys a tower crane for $900,000 on January 1, 2019. It has a 20 year life, it's expected salvage value is $20,000, and total estimated usage is 25,000 hours. Assuming you use Units of Production: What is the rate per hour you should depreciate the asset by? $ 35.2 (round your answer to the nearest cent. For example if the answer is 10.251 enter 10.25) Assuming your company uses the crane for 1,500 hours in 2019 what is depreciation expense in 2019? $ What is depreciation in 2020 assuming you use the crane for 1,600 hours? $Step by Step Solution
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