Question: Hi, I need help with requirements b, c, and d. for requirement b I got some of it right and some wrong. The numbers in

Hi, I need help with requirements b, c, and d. for requirement b I got some of it right and some wrong. The numbers in blue are right and the numbers that are white are incorrect. I would appreciate it if you filled out the answer in the same format above thanks!
Verizon Manufacturing, Inc. purchased a new piece of manufacturing equipment at a total acquisition cost of $2,800,000 on January 4 of the current year. The firm estimates that the equipment has a useful life of 10 years or 13,230,000 units of output and a residual value of $286,300 at the end of its useful life. The following schedule indicates the actual number of units output with the machine per year. (Click the icon to view the schedule.) Read the requirements. Total Requirement b. Prepare the depreciation schedule for the manufacturing equipment assuming that Verizon Manufacturing, Inc. used the units-of-outout metr dollar. Adjust the depreciation expense and units of output for year 10 to arrive at an ending book value equal to the scrap value.) Units Requirements Rate End-of-Year of per Net Book Value End-of-Year Accumulated Depreciation 560,000 Year Depreciation Expense 560,000||$ 448,000 Output 1,580,000 $ 1.580.000 Unit 0.19 1 (NBV) 2,240,000 Original Cost 2,800,000 2,800,000 2,800,000 2,800,000 2 0.19 1,792,000 3 3 0.19 358.400 4 0.19 Prepare the depreciation schedules for the manufacturing equipment assuming that Verizon used the following methods (each case is independent): a. Straight-line method. b. Unils-of-output method. C. Double-declining balance method. (Reduce the depreciation expense in the last year to the necessary amount to arrive at an ending book value equal to the scrap value.) d. Verizon sells the manufacturing equipment at the end of Year 5 for $1,120.000 What is the gain or loss on sale under cach of the depreciation methods in parts (a) ? 288,720 229,376 1.480.000 1,480,000 1,280,000 1.280.000 1.180.000 1,180.000 1,433,600 1,146,880 917,504 734,003 5 0.19 1,008,000 1,366,400 1,653,120 1,882,495 2,065,997 2,212,797 2,330,238 2,424,190 8 0.19 183,501 7 0.19 2,800,000 2,800,000 2,800,000 2,800,000 2,800,000 587,203 8 0.19 - X 146,801 117.4411 93,9521 89,510 469,762 375,810 Data table 9 1,000,000 0.19 10 1,080,000 0.19 2,800,000 2,513,700 286,300 Year 2513701 Year Units of Output Units of Output Total 1 6 1,580,000 1.580.000 1,280,000 1,180.000 2 7 Help me solve this Etext pages Get more help 3 1.480.000 8 1,180,000 answer 4 1,480.000 1.000.000
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
