Question: please answer correctly using proper calculations and explanations. Assume a fiscal year-end of September 30. Compute the annual depreciation charges over the asset's life applying

please answer correctly using proper calculations and explanations.

please answer correctly using proper calculations and explanations. Assume a fiscal year-endof September 30. Compute the annual depreciation charges over the asset's life

Assume a fiscal year-end of September 30. Compute the annual depreciation charges over the asset's life applying each of the following methods. (Round answers to O decimal places, e.g. 45,892.) Year Straight-line Method Sum-of-the-years'-digits method Double-declining-balance method 2023 15795 2024 21060 2025 21060 2026 21060 2027 21060 2028 5265On January 1, 2023, a machine was purchased for $112, 500. The machine has an estimated salvage value of S7, 200 and an estimated useful life of 5 years. The machine can operate for 117, 000 hours before it needs to be replaced. The company closed its books on December 31 and operates the machine as follows: 2023, 23,400 hours; 2024, 29,250 hours; 2025, 17, 550 hours; 2026, 35,100 hours; and 2027, 11, 700 hoursAssume a fiscal year - end of September 30. Compute the annual depreciation charges over the asset's life applying each of the following methods. (Round answers to 0 decimal places, e.g. 45, 892.)

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 Accounting Questions!