Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. do the acummulated depreciation on each machine

Do the acummulated depreciation on each machine inpany has purchased three machines....

70.2K

Verified Solution

Question

Accounting

image
Do the acummulated depreciation on each machine image
inpany has purchased three machines. Because of frequent employee turnover in the accounting department, a different accountant was in charge of selecting the depreciation method for each machine, and various methods have been used. Information concerning the machines is summarized in the table below. Machine 1 2 Acquired Jan 1, 2020 July 1, 2021 Nov. 1, 2021 Cost $ 99,100 91.000 127,500 Salvage Value $ 14,500 10,500 7.500 Useful Life (in years) 8 5 Depreciation Method Straight-line Declining balance Units-of-activity 6 For the declining-balance method, Sheffield Company uses the double-declining rate. For the units-of-activity method total machine hours are expected to be 40,000. Actual hours of use in the first 3 years were 2021,800; 2022,4,400; and 2023.7.500. (a1) Your answer is correct For Bus #3, calculate depreciable cost per mile under units-of-activity method, A Depreciable cost $ per mile Q Compute the amount of accumulated depreciation on each machine at December 31, 2023. Accumulated depreciation MACHINE 1 $ MACHINE 2 $ MACHINE 3 $

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

Finance
1.2K views

On average, a firm collects checks totaling $250,000 per day. It takes the firm approximately 4...

Chemistry
1.2K views

While OLEDS are useful, sometimes they can be hard to convert to regular devices. 1)Are OLED's more...

Biology
1.2K views

Directions Select the correct answer from each drop down menu During times of poverty or...

Physics
1.2K views

An electric dipole consists of two opposite charges each of magnitude 0 1 C separated...

Physics
1.2K views

a Both sides of a uniform film that has index of refrac tion n and...

Calculus
1.2K views

Use Stokes theorem to evaluate F dr F x y z zexi z 6y j...

Calculus
1.2K views

What is the order of the following matrix Provide your answer below 2 4 2...

Accounting
1.2K views

The following information relates to a company's accounts receivable: gross accounts receivable balance at the...

Accounting
1.2K views

Please need help with 14-18. will thumbs up thanks. 13. Which of...

Accounting
1.2K views

Required: Supply the missing data in the following cases. Each case is independent of the...

Accounting
1.2K views

Show Me How Inventory Using FIFO Beginning inventory, purchases, and sales data for Inventory uly...

Accounting
1.2K views

to prepare post closing trail balance, the following closing enttries must be done ? a)...