Calculate the amount of depreciation to report during the year ended december 31 for equipment that was purchased at a cost of $43,000 on october 1. the equipment has an estimated residual value of $3,000 and an estimated useful life of five years or 20,000 hours.
assume the equipment was used for 1,000 hours from october 1 to december 31 and the company uses (a) straight-line, (b) double-declining-balance, or (c) units-of-production depreciation
Solved
Show answers
More tips
- G Goods and services LED-подсветка в LCD-телевизорах: 5 причин, почему она лучше других технологий...
- P Photography and Videography Understanding HDR: How It Works and Why You Need It...
- P Photography and Videography How to Choose the Perfect Photo Paper for Your Images?...
- C Computers and Internet How to Choose an Uninterruptible Power Supply (UPS) for Your Computer: Expert Tips...
- S Science and Technology How to choose a home theater system?...
- A Auto and Moto How to Choose a Car Wash? Tips and Recommendations...
- A Animals and plants How ants survive winter: exploring the secrets of their winter life...
- C Construction and repair How to Choose the Best Underfloor Heating?...
- S Sport When is the Champions League final?...
- S Sport When and Where Will the 2014 World Cup be Held?...
Answers on questions: Business
- H History Which amendment calls for the division of powers in the constitution?...
- H History Compare and contrast european serfand russian serfdom...
- E English PLEASE PLEASE HELP IM SO LOST : Alicia grabs her hat, sets the house alarm, but, in a hurry to leave, she forgets her camera. Which underlined part of the sentence,...
- E English U•ェ•*U(✿◠‿◠)(✿◠‿◠) HEWO FOR PPL HOWS BEING BULLIED...
Ответ:
Instructions are listed below.
Explanation:
Giving the following information:
Calculate the amount of depreciation to report during the year ended December 31 for equipment that was purchased for $43,000 on October 1. The equipment has an estimated residual value of $3,000 and an estimated useful life of five years or 20,000 hours.
Assume the equipment was used for 1,000 hours from October 1 to December 31.
A) Annual depreciation= (original cost - salvage value)/estimated life (years)
Annual depreciation= (43,000 - 3,000)/5=8,000
Year 1 depreciation= 8,000/12*3= 2,000
B) Annual depreciation= 2*[(original cost - residual value)/estimated life (years)]
Year 1= 16,000/12*3= 4,000
C) Annual depreciation= [(original cost - salvage value)/useful life of production in units]*units produced
Annual depreciation= 40,000/20,000= 2
Year 1= 2*1000hs= 2,000
Ответ:
I have no idea!
Explanation: