Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

View Policies Show Attempt History Current Attempt in Progress Pharoah Ltd. purchased a new machine on April 4, 2017, at a cost of $164,000. The

image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
View Policies Show Attempt History Current Attempt in Progress Pharoah Ltd. purchased a new machine on April 4, 2017, at a cost of $164,000. The company estimated that the machine would have a residual value of $14,000. The machine is expected to be used for 10,000 working hours during its four-year life. Actual machine usage was 1,600 hours in 2017: 2,100 hours in 2018: 2,500 hours in 2019; 2,000 hours in 2020; and 1,800 hours in 2021. Pharoah has a December 31 year end. (a) Your answer is partially correct. Calculate depreciation for the machine under each of the following methods: (Round expense per unit to 2 decimal places, e.g. 2.75 and final answers to decimal places, eg. 5,275.) (1) Straight-line for 2017 through to 2021. Your answer is partially correct Calculate depreciation for the machine under each of the following methods: (Round expense per unit to 2 decimal places, 03.275 and final answers to decimal places, es, 5,275.) (1) Straight line for 2017 through to 2021. 2017 expense $ 2018 expense $ 2019 expense 2020 expense 2021 expense $ (2) Diminishing-balance using double the straight-line rate for 2017 through to 2021. Question 5 of 6 (2) Diminishing-balance using double the straight-line rate for 2017 through to 2021. 2017 expense 2018 expense 2019 expense $ 2020 expense $ 2021 expense $ (3) Units of production for 2017 through to 2021. 2017 expense $ (3) Units of production for 2017 through to 2021 2017 expense 2018 expense $ 2019 expense 2020 expense $ 2021 expense e Textbook and Media olar Attempts: 2 of 15 used Sub

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Mastering Accounting Skills

Authors: Margaret Nicholson

3rd Edition

1403992703, 978-1403992703

More Books

Students also viewed these Accounting questions

Question

3. On the playground, raise a hand or whistle to indicate Line up.

Answered: 1 week ago