Grouper Automotive purchased equipment on October 1, 202, at a total cost of $158,000. The machine...
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Grouper Automotive purchased equipment on October 1, 202, at a total cost of $158,000. The machine has an estimated useful life of eight years or 100,000 hours, and an estimated residual value of $18,000. During 2024 and 2025, the machinery was used 5,100 and 13,500 hours, respectively. Calculate depreciation expense at December 31, 2024 and December 31, 2025, under the following depreciation methods: (Round answers to 0 decimal places, eg. 5,275, and Round Depreciation cost per unit to 1 decimal places, e.g. 527.5) Straight-line depreciation Units-of-production depreciation Double diminishing-balance depreciation Save for Later $ 2024 $ 2025 Attempts: 0 of 1 used Submit Answer Grouper Automotive purchased equipment on October 1, 202, at a total cost of $158,000. The machine has an estimated useful life of eight years or 100,000 hours, and an estimated residual value of $18,000. During 2024 and 2025, the machinery was used 5,100 and 13,500 hours, respectively. Calculate depreciation expense at December 31, 2024 and December 31, 2025, under the following depreciation methods: (Round answers to 0 decimal places, eg. 5,275, and Round Depreciation cost per unit to 1 decimal places, e.g. 527.5) Straight-line depreciation Units-of-production depreciation Double diminishing-balance depreciation Save for Later $ 2024 $ 2025 Attempts: 0 of 1 used Submit Answer
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Part 1 Straight Line Method Depreciation Expense each yearOriginal ... View the full answer
Related Book For
Intermediate accounting
ISBN: 978-0077647094
7th edition
Authors: J. David Spiceland, James Sepe, Mark Nelson
Posted Date:
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