Question
Wildhorse Ltd. purchased a new machine on April 4, 2014, at a cost of $152,000. The company estimated that the machine would have a residual
Wildhorse Ltd. purchased a new machine on April 4, 2014, at a cost of $152,000. The company estimated that the machine would have a residual value of $14,000. The machine is expected to be used for 9,200 working hours during its four-year life. Actual machine usage was 1,300 hours in 2014; 2,000 hours in 2015; 2,500 hours in 2016; 1,800 hours in 2017; and 1,600 hours in 2018. Wildhorse has a December 31 year end.
(a)
New attempt is in progress. Some of the new entries may impact the last attempt grading.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 0 decimal places, e.g. 5,275.) (1) Straight-line for 2014 through to 2018.
2014 expense | $enter a dollar amount | ||
---|---|---|---|
2015 expense | $enter a dollar amount | ||
2016 expense | $enter a dollar amount | ||
2017 expense | $enter a dollar amount | ||
2018 expense | $enter a dollar amount |
(2) Diminishing-balance using double the straight-line rate for 2014 through to 2018.
2014 expense | $enter a dollar amount | ||
---|---|---|---|
2015 expense | $enter a dollar amount | ||
2016 expense | $enter a dollar amount | ||
2017 expense | $enter a dollar amount | ||
2018 expense | $enter a dollar amount |
(3) Units-of-production for 2014 through to 2018.
2014 expense | $enter a dollar amount | ||
---|---|---|---|
2015 expense | $enter a dollar amount | ||
2016 expense | $enter a dollar amount | ||
2017 expense | $enter a dollar amount | ||
2018 expense | $enter a dollar amount |
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started