Question
With the given information below: Sandhill Limited purchased a machine on account on April 1, 2021, at an invoice price of $337,900. On April 2,
With the given information below:
Sandhill Limited purchased a machine on account on April 1, 2021, at an invoice price of $337,900. On April 2, it paid $2,080 for delivery of the machine. A one-year, $4,200 insurance policy on the machine was purchased on April 5. On April 19, Sandhill paid $7,460 for installation and testing of the machine. The machine was ready for use on April 30. Sandhill estimates the machines useful life will be five years or 6,186 units with a residual value of $82,570. Assume the machine produces the following numbers of units each year: 976 units in 2021; 1,407 units in 2022; 1,383 units in 2023; 1,211 units in 2024; and 1,209 units in 2025. Sandhill has a December 31 year end.
How can I get to the Accumulated Depreciation and Carrying Amount/ What is the formula to get the Depreciable Amount and Depreciation Expense for the straight line method:
Year | Accumulated Depreciation | Carrying Amount |
2021 | 35316 | 312124 |
2020 | 88290 | 259150 |
2019 | 141264 | 206176 |
2018 | 194238 | 153202 |
2017 | 247212 | 100202 |
2018 | 264870 | 82570 |
How can I get to the Accumulated Depreciation and Carrying Amount/ What is the formula to get the Depreciable Amount and Depreciation Expense for the Double diminishing-balance method, finish the table and write down the formulas for the calculations:
Year | Accumulated Depreciation | Carrying Amount |
2021 |
| |
2020 | ||
2019 | ||
2018 | ||
2017 | ||
2018 |
How can I get to the Accumulated Depreciation and Carrying Amount/ What is the formula to get the Depreciable Amount and Depreciation Expense for the Units of production method, finish the table and write down the formulas for the calculations:
Year | Accumulated Depreciation | Carrying Amount |
2021 |
| |
2020 | ||
2019 | ||
2018 | ||
2017 | ||
2018 |
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