Required information [The following information applies to the questions displayed below.] On October 1, 2024, the...
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Required information [The following information applies to the questions displayed below.] On October 1, 2024, the Allegheny Corporation purchased equipment for $166,000. The estimated service life of the equipment is 10 years and the estimated residual value is $1,000. The equipment is expected to produce 330,000 units during its life. Required: Calculate depreciation for 2024 and 2025 using each of the following methods. Partial-year depreciation is calculated based on the number of months the asset is in service. 1. Straight-line. Answer is not complete. Straight-Line Depreciation. Choose Numerator: Formula Cost minus Residual Choose Denominator: Estimated Useful Life (years) Annual Depreciation Annual Depreciation Amounts s 160,000 x 10 Prev www 1. Straight-line. Answer is not complete. Straight-Line Depreciation Choose Numerator: Choose Denominator: Annual Depreciation Formula Cost minus Residual Estimated Useful Life (years) Annual Depreciation i Amounts 166,000 10 Year Annual Depreciation X Fraction of Year Depreciation expense 2024 X 3/12 2025 x 12/12 Required information [The following information applies to the questions displayed below.) On October 1, 2024, the Allegheny Corporation purchased equipment for $166,000. The estimated service life of the equipment is 10 years and the estimated residual value is $1,000. The equipment is expected to produce 330,000 units during its life. Required: Calculate depreciation for 2024 and 2025 using each of the following methods. Partial-year depreciation is calculated based on the number of months the asset is in service. 1. Straight-line. Straight-Line Depreciation: Choose Numerator: Formula Cost minus Residual Choose Denominator: Estimated Useful Life (years) Annual Depreciation Annual Depreciation Amounts 106,000- 10- Year Annual Depreciation. Fraction of Year Depreciation expense 2024 3/12 2025 12/12 Required information [The following information applies to the questions displayed below.] On October 1, 2024, the Allegheny Corporation purchased equipment for $166,000. The estimated service life of the equipment is 10 years and the estimated residual value is $1,000. The equipment is expected to produce 330,000 units during its life. Required: Calculate depreciation for 2024 and 2025 using each of the following methods. Partial-year depreciation is calculated based on the number of months the asset is in service. 1. Straight-line. Answer is not complete. Straight-Line Depreciation. Choose Numerator: Formula Cost minus Residual Choose Denominator: Estimated Useful Life (years) Annual Depreciation Annual Depreciation Amounts s 160,000 x 10 Prev www 1. Straight-line. Answer is not complete. Straight-Line Depreciation Choose Numerator: Choose Denominator: Annual Depreciation Formula Cost minus Residual Estimated Useful Life (years) Annual Depreciation i Amounts 166,000 10 Year Annual Depreciation X Fraction of Year Depreciation expense 2024 X 3/12 2025 x 12/12 Required information [The following information applies to the questions displayed below.) On October 1, 2024, the Allegheny Corporation purchased equipment for $166,000. The estimated service life of the equipment is 10 years and the estimated residual value is $1,000. The equipment is expected to produce 330,000 units during its life. Required: Calculate depreciation for 2024 and 2025 using each of the following methods. Partial-year depreciation is calculated based on the number of months the asset is in service. 1. Straight-line. Straight-Line Depreciation: Choose Numerator: Formula Cost minus Residual Choose Denominator: Estimated Useful Life (years) Annual Depreciation Annual Depreciation Amounts 106,000- 10- Year Annual Depreciation. Fraction of Year Depreciation expense 2024 3/12 2025 12/12
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