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Spreadsheet assignment On January 1, 2023, a machine was purchased for $90,000. The machine has an estimated salvage of $6,000 and an estimated useful life
Spreadsheet assignment
On January 1, 2023, a machine was purchased for $90,000. The
machine has an estimated salvage of $6,000 and an estimated useful life
of 5 years. The machine can operate for 100,000 hours before it needs to
be replaced. The company closed its book on December 31 and operates
the machine as follows: 2023, 20,000 hours; 2024, 25,000 hours; 2025,
15,000 hours; 2026, 30,000 hours; and 2027, 10,000 hours.
1. Prepare a depreciation schedule over the machines life assuming a
fiscal year-end of December 31, for each of the following depreciation
methods: Straight-line method, Activity method, Sum-of-the-years-
digit method, and Double-declining-balance method.
2. Assume a fiscal-year-end of September 30. Prepare a depreciation
schedule over the machines life using each of the following methods: Straight-line method, Sum-of-the-years- digit method, and Double-declining-balance method. The schedule should include at least the following columns: Year, Depreciation expense, Balance of Accumulated Depreciation, Book value at End of Year.
machine has an estimated salvage of $6,000 and an estimated useful life
of 5 years. The machine can operate for 100,000 hours before it needs to
be replaced. The company closed its book on December 31 and operates
the machine as follows: 2023, 20,000 hours; 2024, 25,000 hours; 2025,
15,000 hours; 2026, 30,000 hours; and 2027, 10,000 hours.
1. Prepare a depreciation schedule over the machines life assuming a
fiscal year-end of December 31, for each of the following depreciation
methods: Straight-line method, Activity method, Sum-of-the-years-
digit method, and Double-declining-balance method.
2. Assume a fiscal-year-end of September 30. Prepare a depreciation
schedule over the machines life using each of the following methods: Straight-line method, Sum-of-the-years- digit method, and Double-declining-balance method. The schedule should include at least the following columns: Year, Depreciation expense, Balance of Accumulated Depreciation, Book value at End of Year.
please give thorough steps to solve depreciation spread sheet, big guy.
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