A company purchased a new printer at the beginning of the year for $45,720. It has...
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A company purchased a new printer at the beginning of the year for $45,720. It has a 7-year useful life and a $5,500 salvage value. The expected units of production were estimated at 5,000,000 prints. Actual output: Year 1 885,200.00 Year 2 825,100.00 Year 3 767,700.00 Year 4 732,900.00 Year 5 678,600.00 Year 6 626,800.00 Year 7 589,500.00 Total 5,105,800.00 The copier was sold at the end of 2017 for $6,680. Required: a. Calculate the depreciation expense for each of year using the double-declining-balance method. Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Total $ b. Calculate the depreciation expense for each year using the units-of-production method. Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Total A company purchased a new printer at the beginning of the year for $45,720. It has a 7-year useful life and a $5,500 salvage value. The expected units of production were estimated at 5,000,000 prints. Actual output: Year 1 885,200.00 Year 2 825,100.00 Year 3 767,700.00 Year 4 732,900.00 Year 5 678,600.00 Year 6 626,800.00 Year 7 589,500.00 Total 5,105,800.00 The copier was sold at the end of 2017 for $6,680. Required: a. Calculate the depreciation expense for each of year using the double-declining-balance method. Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Total $ b. Calculate the depreciation expense for each year using the units-of-production method. Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Total
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Answer a Printer cost is 45720 Useful life of the printer is 7 years Salvage value of the ... View the full answer
Related Book For
Accounting
ISBN: 978-0324662962
23rd Edition
Authors: Jonathan E. Duchac, James M. Reeve, Carl S. Warren
Posted Date:
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