A Company Bought a New Machine

A Company Bought a New Machine

  • On January 1,2018, a machine was purchased for $100,000. The motorcar has an estimated relieve value…


    On Jan 1,2018, a motorcar was purchased for $100,000. The car has an estimated salve value of $five,920 and an estimated useful life of 5 years. The machine can operate for 112,000 hours before information technology needs to be replaced. The company closed its books on Dec 31 and operates the machine as follows: 2018, 22,400 hrs; 2019, 28,000 hrs; 2020, 16,800 hrs; 202 1, 33,600 hrs; and 2022, 11,200 hrs. (a) Compute the almanac depreciation charges over the auto’s life…

  • Abdulaziz Co. purchased a auto in 2013 for fifty,000 that has a useful life of five…

    Abdulaziz Co. purchased a machine in 2013 for 50,000 that has a useful life of 5 years with a salvage value of 5,000. Calculate the depreciation expense, accumulated depreciation, book value throughout its useful life using: 1- Straight-line Method. 2- Units of Production Method if the automobile produces 100,000 units. Here is a table of units produced each year: Get-go 2nd Tertiary Quaternary Fifth 23,000 25,000 – thirty,000 22,000 iii- Double Declining Balance Method

  • On January 4, 2019, Columbus Company purchased new equipment for $693,000 that had a useful life…


    On January iv, 2019, Columbus Visitor purchased new equipment for $693,000 that had a useful life of four years and a salvage value of $53,000. Required: Prepare a schedule showing the annual depreciation and end-of-year accumulated depreciation for the outset iii years of the asset’s life under the straight-line method, the sum-of-the-years’-digits method, and the double-declining-remainder method. Analyze: If the double-declining rest method is used to compute depreciation, what would be the book value of the asset at the stop…

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  • car ane: cost 76,000 salvage value six,000 useful life 10 years purchased seven/one/sixteen machine 2: cost…


    machine 1: cost 76,000 salvage value 6,000 useful life ten years purchased 7/1/xvi machine 2: cost lxxx,000 salvage value 10,000 useful life viii years purchased 1/i/xiii machine 3: price 78,000 salvage value 6,000 useful life 6 years = 24,000 hours purchased one/1/18 Trouble: In recent years, Hrubeck Company purchased three machines. Because of heavy turnover in the accounting section, a dissimilar accountant was in charge of selecting the depreciation method for each machine, and various methods were selected. Data concerning…

  • Q1- Abdulaziz Co. purchased a machine in 2013 for 50,000 that has a useful life of…

    Q1- Abdulaziz Co. purchased a automobile in 2013 for 50,000 that has a useful life of five years with a salvage value of 5,000. Calculate the depreciation expense, accumulated depreciation, book value throughout its useful life using: 1- Straight-line Method. ii- Units of Production Method if the machine produces 100,000 units. Hither is a table of units produced each yr: First 2d 3rd Fourth Fifth 23,000 25,000 – 30,000 22,000 3- Double Declining Residual Method (2 Marks).

  • Plastic Works Corporation bought a motorcar at the beginning of the year at a price of $12,000. The estimated useful life…


    Plastic Works Corporation bought a machine at the beginning of the twelvemonth at a cost of $12,000. The estimated useful life was five years, and the rest value was $two,000. Assume that the estimated productive life of the automobile is 10,000 units. Expected almanac production was: year 1, 3,000 units; year 2, 3,000 units; yr three, 2,000 units; year iv, i,000 units; and year 5, 1,000 units. Required: 1. Complete a depreciation schedule for each of the culling methods. (Enter…

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  • Question 33 Ermler Company purchased a machine at a toll of $fourscore,000. The machine is expected…


    Question 33 Ermler Company purchased a machine at a toll of $80,000. The automobile is expected to have a $v,000 salvage value at the end of its 5-year useful life. Compute annual depreciation for the first and second years using the Direct-line method. Year i Year ii Straight-line method Compute annual depreciation for the first and 2nd years using the Double-declining-balance method. Yr 1 Yr ii Double-declining-residual method

  • Schrade Company bought a machine for $98,000 cash. The estimated useful life was four years, and…


    Schrade Company bought a machine for $98,000 cash. The estimated useful life was four years, and the estimated residual value was $six,040. Assume that the estimated useful life in productive units is 121,000. Units really produced were 44,000 in yr ane and 46,000 in year 2 value: Required data 10.00 points Required: one. Determine the appropriate amounts to complete the following schedule. (Round your answers to the nearest dollar amount. Do not circular intermediate calculations.) Depreciation Expense for Yr 1…

  • On June 1, a machine costing $660,000 with a 5-year life and an estimated $l,000 salvage…


    On June 1, a motorcar costing $660,000 with a 5-year life and an estimated $50,000 salvage value was purchased. It was also estimated that the car would produce 200,000 units during its life. Actual production would be 40,000 units per twelvemonth for all five years. Using the depreciation template provided, determine the amount of depreciation expense for the third year nether each of the following assumption The company uses the double-failing-balance method of depreciation. fifty Cast Salvage value Depreciable toll…

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  • On January 1, 2015, Swift Corporation, a minor manufacturer of auto tools, acquired new indust…


    On Jan one, 2015, Swift Corporation, a small manufacturer of auto tools, acquired new industrial equipment for $1,320,000. The new equipment had a useful life of v years and the residue value was estimated to be $sixty,000. Swift estimates that the new equipment can produce 14,500 machine tools in its first year. It estimates that production will reject by 1,000 units per year over the equipment’s remaining useful life. The following depreciation methods may be used: (1) straight-line, (ii) double-declining-remainder,…

  • A Company Bought a New Machine

    Source: https://zuoti.pro/questions/948778/a-company-just-bought-a-new-machine-for-100000-it

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