Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. comparing three depreciation methods dexter indust

Comparing three depreciation methods Dexter Industries purchased packaging equipment on January 8 for $72,000. The...

90.2K

Verified Solution

Question

Accounting

image

Comparing three depreciation methods Dexter Industries purchased packaging equipment on January 8 for $72,000. The equipment was expected to have a useful life of three years, or 18,000 operating hours, and a residual value of $4,500. The equipment was used for 7,200 hours during Year 1, 5,400 hours in Year 2, and 5,400 hours in Year 3. Required: 1. Determine the amount of depreciation expense for the three years ending December 31, by (a) the straight-line method, (b) the units-of-activity method, and (c) the double-declining-balance method. Also determine the total depreciation expense for the three years by each method. Round the final answers for each year to the nearest whole dollar. Depreciation Expense Year Straight-Line Method Units-of-Activity Method Double-Declining-Balance Method Year 1 $ $ Year 2 $ $ Year 3 $ $ Total $ $ 2. What method yields the highest depreciation expense for Year 1? Double-declining-balance method ion over the three-year life of the equipment? 3. What method yields the most depre All three depreciation methods

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

Accounting
1.2K views

Which of the following statement/s about an Integrated ReportingFramework is/are true?i . It is...Which...

Biology
1.2K views

From a strictly mechanistic point of view (i.e., ignoring practicalities, FDA approval, etc), what drugs might...

Finance
1.2K views

analyses and explain amazon stock price in June date close volume open high low change in price 6/3/19 1692.69 9098708 1760.01 1766.29 1672 6/4/19 1729.56 5679121 1699.24 1730.82 1680.89 36.87 6/5/19 1738.5 4239782 1749.6 1752 1715.2514 8.94 6/6/19 1754.36 3689272 1737.71 1760 1726.13 15.86 6/7/19 1804.03 4808246 1763.7 1806.2538 1759.49 49.67 6/10/19 1860.63 5371007 1822 1884.87 1818 56.60 6/11/19 1863.7 4042694 1883.25 1893.7 1858 3.07 6/12/19 1855.32 2678335 1853.98 1865 1844.38 -8.38 6/13/19 1870.3 2795810 1866.72 1883.09 1862.22 14.98 6/14/19 1869.67 2851163 1864 1876 1859 -0.63 6/17/19 1886.03 2634342 1876.5 1895.688 1875.45 16.36 6/18/19 1901.37 3895728 1901.35 1921.67 1899.79 15.34 6/19/19 1908.79 2895347 1907.84 1919.5807 1892.47 7.42 6/20/19 1918.19 3217153 1933.33 1935.2 1905.8 9.40 6/21/19 1911.3 3933576 1916.1 1925.95 1907.58 -6.89 6/24/19 1913.9 2282969 1912.66 1916.86 1901.3 2.60 6/25/19 1878.27 3012347 1911.84 1916.385 1872.42 -35.63 6/26/19 1897.83 2441910 1892.48 1903.8 1887.32 19.56 6/27/19 1904.28 2141721 1902 1911.24 1898.04 6.45 6/28/19 1893.63 3037358 1909.1 1912.94 1884 -10.65

Biology
1.2K views

An important naturally occurring phenomenon in cells is known as passive transport. It___________require the cell...

Biology
1.2K views

trait 2 trail 1 trait 4 Irait 5 trait 3 root What is the common...

Geometry
1.2K views

When travelling to Paris, you convert $1,400 to euros. How many euros is this?Round your...

Basic Math
1.2K views

Given that ZQ ZS and ZQRT STR prove that AQTR ASRT T Statement Q 25...

Basic Math
1.2K views

In a fraternity with 34 members 18 take mathematics 5 take both mathematics and literature...

Basic Math
1.2K views

K The inverse of p qis The inverse of p qis

Statistics
1.2K views

A runner finds that the distance they run in miles D is dependent on the...

Accounting
1.2K views

Which of the following statements is true concerning the partnership representative (PR)? A. A PR...

Accounting
1.2K views

El balance de una empresa muestra $40 000 en efectivo, $25 000 en cuentas por...