Question: E9-7 Computing Depreciation under Alternative Methods [LO 9-3] Sushi Corp. purchased and installed electronic payment equipment at its drive-in restaurants in San Marcos, TX, at

E9-7 Computing Depreciation under Alternative Methods [LO 9-3] Sushi Corp. purchased and installed electronic payment equipment at its drive-in restaurants in San Marcos, TX, at a cost of $51,300. The equipment has an estimated residual value of $2,700. The equipment is expected to process 275,000 payments over its three-year useful life. Per year, expected payment transactions are 66,000, year 1; 151,250, year 2; and 57,750, year 3. Required: Complete a depreciation schedule for each of the alternative methods. Straight-line. Units-of-production. Double-declining-balance.

I am stuck on the 2nd and 3rd Parts!

E9-7 Computing Depreciation under Alternative Methods [LO 9-3] Sushi Corp. purchased andinstalled electronic payment equipment at its drive-in restaurants in San Marcos, TX,at a cost of $51,300. The equipment has an estimated residual value

Required 1 Required 2 Required 3 Complete a depreciation schedule for Straight-line method. (Do not round intermediate calculations.) Income Statement Balance Sheet Year Depreciation Expense Cost Accumulated Depreciation Book Value At acquisition $ 1 $ 16,200 $ 51,300 $ 51,300 35,100 18,900 2 16,200 16,200 $ 32,400 48,600 51,300 51,300 3 16,200 2,700 Required 1 Required 2 Required 3 Complete a depreciation schedule for Units-of-production method. (Do not round intermediate calculations.) Income Statement Balance Sheet Year Depreciation Expense Cost Accumulated Depreciation Book Value At acquisition $ 51,300 1 $ 51,300 2 51,300 3 51,300 Required 1 Required 2 Required 3 Complete a depreciation schedule for Double-declining-balance method. (Do not round intermediate calculations.) Income Statement Balance Sheet Year Depreciation Expense Cost Accumulated Depreciation Book Value At acquisition $ 51,300 1 $ 51,300 2 51,300 3 51,300

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Finance Questions!