Calculate depreciation using straight line and double declining balance method Reminder, for the double declining method, total
Fantastic news! We've Found the answer you've been seeking!
Question:
Calculate depreciation using straight line and double declining balance method
Reminder, for the double declining method, total depreciation for the six years cannot exceed the maximum depreciation. |
Transcribed Image Text:
CEWEKTR2325 12 Facts: 13 Machine purchase. 14 Useful life 15 Salvage value 16 Cost to put machine into service 17 18 19 Initial Depreciable base 20 21 Maximum depreciation. 23 Depreciation per year 24 26 27 28 29 29 30 30 31 32 33 34 Years 1 1 2 2 3 4 5 6 Total straight line depreciation Depreciable Base $ $ $ $ $ $ $ $ $ 150,000 $ 6 years 18,000 15,000 Straight Line Depre. Rate Annual Depreciation Expense = 1/6 = 1/6 = 1/6 = 1/6 = 1/6 = 1/6 Initial Depreciable base Maximum depreciation Depreciation per year Years 1 2 3 4 5 6 Depreciable Base $ $ $ $ $ $ Total double declining balance depreciation DB Notes Initial depreciable bas Prior cost less deprec Prior cost less deprec Prior cost less deprec Prior cost less deprec Prior cost less deprec Double Declining Balance Depre. Rate Annual Depreciation Expense = 2/6 = 2/6 = 2/6 = 2/6 = 2/6 = 2/6 $ CEWEKTR2325 12 Facts: 13 Machine purchase. 14 Useful life 15 Salvage value 16 Cost to put machine into service 17 18 19 Initial Depreciable base 20 21 Maximum depreciation. 23 Depreciation per year 24 26 27 28 29 29 30 30 31 32 33 34 Years 1 1 2 2 3 4 5 6 Total straight line depreciation Depreciable Base $ $ $ $ $ $ $ $ $ 150,000 $ 6 years 18,000 15,000 Straight Line Depre. Rate Annual Depreciation Expense = 1/6 = 1/6 = 1/6 = 1/6 = 1/6 = 1/6 Initial Depreciable base Maximum depreciation Depreciation per year Years 1 2 3 4 5 6 Depreciable Base $ $ $ $ $ $ Total double declining balance depreciation DB Notes Initial depreciable bas Prior cost less deprec Prior cost less deprec Prior cost less deprec Prior cost less deprec Prior cost less deprec Double Declining Balance Depre. Rate Annual Depreciation Expense = 2/6 = 2/6 = 2/6 = 2/6 = 2/6 = 2/6 $
Expert Answer:
Answer rating: 100% (QA)
Straight Line Depreciation Initial Depreciable Base 150000 Useful Life 6 years Salvage Value 18000 A... View the full answer
Related Book For
Posted Date:
Students also viewed these accounting questions
-
You are working for a company that makes cannabis oil products for medical users. One of the products is a gelatin capsule (or gel cap, a type of pill) containing cannabis oil. The design...
-
Account Titles cash in bank ordinary share capital share premium-ordinary preference share share premium-ps ppe-building ppe-land mortgage payable ppe-office furnitures & Notes Payable Smallspoon...
-
The following additional information is available for the Dr. Ivan and Irene Incisor family from Chapters 1-5. Ivan's grandfather died and left a portfolio of municipal bonds. In 2012, they pay Ivan...
-
Consider the following information for a company: Sales (all credit): $6,000,000; Cost of Goods Sold: 80% of Sales; Accounts receivable: $350,000; Inventory: $600,000; Accounts payable: $150,000 What...
-
Glenn's Cleaning Services Company is experiencing cash flow problems and needs a loan. Glenn has a friend who is willing to lend him the money he needs provided she can be convinced that he will be...
-
According to the IRS, taxpayers calling the IRS in 2017 waited 13 minutes on average for an IRS telephone assister to answer. Do callers who use the IRS help line early in the day have a shorter...
-
The 2014-T6 aluminum bar \(A B\) can slide freely along the guides mounted on the rigid crash barrier. If the railcar of mass \(10 \mathrm{Mg}\) is traveling with a speed of \(v=1.5 \mathrm{~m} /...
-
Washburn University sells 3,500 season basketball tickets at $80 each for its 10-game home schedule. Give the entry to record (a) The sale of the season tickets and (b) The revenue recognized after...
-
Amtrak's 20th-Century Limited is on route from Chicago to New York at 120km/h when the engineer spots a cow on the track. The train brakes to a halt in 1.3min, stopping just in front of the cow. a)...
-
MARKETING EXCELLENCE Given today's increasingly hectic lifestyles, precooked meals and processed ingredients are becoming the norm for Canadian families to use in preparing their daily meals....
-
(a)Practically demonstrate along side with figures, how Extraordinary Items will affect the Income Statement Preparation (b)Practically demonstrate how a parner with a debit balance on a partnership...
-
Write a method \(\operatorname{copy}()\) that takes a linked-list Node as its argument and creates a new linked list with the same sequence of items, without destroying the original linked list.
-
Which of the following sequences can fill in the blanks so the code prints -1 0 2? A. compare, mismatch, compare B. compare, mismatch, mismatch C. mismatch, compare, compare D. mismatch, compare,...
-
You are given the following information about a certain companys current assets over the past 4 years: Use a component-lines graph to plot this firms current assets. Current assets Cash and...
-
You are drawing five cards from a standard deck of cards with replacement. You win if you draw at least three red cards in five draws. What is the probability of your winning?
-
Alexis de Tocqueville once stated, The Americans have applied to the sexes the great principle of political economy which governs the manufacturers of our age, by carefully dividing the duties of men...
-
The Regal Cycle Company manufactures three types of bicycles-a dirt bike, a mountain bike, and a racing bike. Data on sales and expenses for the past quarter follow: Total $ 930,000 461,000 469,000...
-
What is the ideal number of children to have? This question was asked on the Sullivan Statistics Survey I. Draw a dot plot of the variable Children from theSullivanStatsSurveyI data set at...
-
The inventory records of RST indicate the following regarding its best-selling product in the month of January: Required: Calculate the dollar amount of ending inventory and cost of goods sold under...
-
Using the following table, identify- the characteristics of adverse selection and moral hazard and when they are most likely to apply. For example, for the first item, which of bidden action or...
-
Through non-subscription sales, Business Weekly (see P4-9) provides retailers with a 50% margin (or 100% mark-up) on its magazines. During 2012, the company distributed 1,950,000 copies to retailers,...
-
Give some examples of how CRM-enabled sales analytics can provide valuable insights at each of these stages of the customer journey: prospect (lead), initial customer contact, engagement with the...
-
Someone says: Our firm focuses on maintaining long-term relationships with our customers. We dont have to do any prospecting. Evaluate this statement.
-
Why do some salespeople not immediately embrace the use of the newest technologies? What are some ways in which a salesperson who is reluctant to adopt new technologies might be influenced to do so?
Study smarter with the SolutionInn App