Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. apex fitness club uses straight-line depreciation

Apex Fitness Club uses straight-line depreciation for a machine costing $26,900, with an estimated four-year...

50.1K

Verified Solution

Question

Accounting

Apex Fitness Club uses straight-line depreciation for a machine costing $26,900, with an estimated four-year life and a $2,450 salvage value. At the beginning of the third year, Apex determines that the machine has three more years of remaining useful life, after which it will have an estimated $2,000 salvage value.
Compute the machine's book value at the end of its second year.
Compute the amount of depreciation for each of the final three years given the revised estimates.
Complete this question by entering your answers in the tabs below.
Required 1
Required 2
Compute the machine's book value at the end of its second year.
Note: Do not round intermediate calculations. Round your final answers to the nearest whole dollar.
\table[[Book Value at the End of Year 2:,],[Cost,],[Accumulated depreciation 2 years,],[Book value at point of revision,$
image

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Chemistry
1.2K views

4. An ideal gas in a moveable piston is allowed to reversibly expand by slowly heating...

Physics
1.2K views

In a given set up a compound microscope is forming the image of an object...

Geometry
1.2K views

4 A 5 A 24 6 D 14 D 36 6 21 C ABCD yamuk...

Basic Math
1.2K views

Solve the given differential equation y 7 dx y sec x dy

Basic Math
1.2K views

Ryann and Lydia are taking canoe ride across Smithville lake. They can go 14 miles...

Statistics
1.2K views

A sample of 900 computer chips revealed literature claimed that 40 fail in the firs...

Calculus
1.2K views

the answer sheet You may write show work on 1 Which of the following is...

Algebra
1.2K views

If the zeros of a quadratic function parabola are x 2 and x 4 what...

Algebra
1.2K views

In an arithmetic sequence a17 a Simplify your answer 59 and 230 12 49 Find...

Accounting
1.2K views

The following condensed balance sheet is for the partnership of Hardwick, Saunders, and Ferris, who...

Accounting
1.2K views

Please state which accounting standard in 2021 in relation to both of the recognition criteria...

Accounting
1.2K views

Beckenworth had cost of goods sold of $9,421 million, ending inventory of $2,089 million, and...