The equipment of DEF Company has the following data: Cost Salvage value Useful life Date acquired...
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The equipment of DEF Company has the following data: Cost Salvage value Useful life Date acquired 1,100,000 100,000 4 years 20,000 units 10,000 hours 01/01/x1 Required: Determine the depreciation expense in 20x1 under the following methods: 1. Sum-of-the-years' digits method. 2. Double declining balance method. 3. Units of input method (DEF used 3,000 working hours for the product it manufactured for the year 20x1). 4. Units of output method (DEF used 2,000 units of the product for the year 20x1). The equipment of DEF Company has the following data: Cost Salvage value Useful life Date acquired 1,100,000 100,000 4 years 20,000 units 10,000 hours 01/01/x1 Required: Determine the depreciation expense in 20x1 under the following methods: 1. Sum-of-the-years' digits method. 2. Double declining balance method. 3. Units of input method (DEF used 3,000 working hours for the product it manufactured for the year 20x1). 4. Units of output method (DEF used 2,000 units of the product for the year 20x1).
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SumoftheYears Digits Method To calculate depreciation expense using the SumoftheYears Digits method we need to determine the total number of digits in ... View the full answer
Related Book For
Accounting Principles
ISBN: 978-1118875056
12th edition
Authors: Jerry Weygandt, Paul Kimmel, Donald Kieso
Posted Date:
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