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Score: 0.02 of 2 pts Question Help P8-48A (similar to) For the uris of produetion and asset book Snow how Chyler Print Done Choose from any list or enter any number in the input fielids and then click Check Anwer Check Answer Clear All depreciation per ound More Info n expense, accumulated depreciation, and asset book value for each year of the asset's life. For the units of production methood More Info On January 1, 2018, Chyler Enterprises, Inc., paid $265,500 for equipment used in manufacturing automotive supplies. In addition to the basic purchase price, the company paid $300 for transportation charges, $100 for insurance for the equipment while in transit, $11,100 sales tax, and $3,000 for a special platform on which to place the equipment in the plant. Management of Chyler Enterprises, Inc., estimates that the equipment will remain in service for five years and have a residual value of $30,000. The equipment will produce 90,000 units the first year, with annual production decreasing by 5,000 units during each of the next four years (i.e., 85,000 units in year 2: 80,000 units in year 3; and so on, for a total of 400,000 units). In trying to decide which depreciation method to use, Chyler Enterprises, Inc., requested a depreciation schedule for each of the three depreciation methods (straight-line, units of production, and double-declining balance). Print Done Before completing the straight-line depreciation schedule, calculate the straight-line depreciation rate. One (SL) Depreciation rate Useful life year i Requirements 1. For each depreciation method, prepare a depreciation schedule showing asset cost, depreciation expense, accumulated depreciation, and asset book value for each year of the asset's life. For the units of production method, round depreciation per unit to three decimal places. 2. Chyler Enterprises, Inc., prepares financial statements using the depreciation method that reports the highest income in the early years of asset use. For income tax purposes, the company uses the depreciation method that minimizes income taxes in the early years. Consider the first year Chyler Enterprises, Inc., uses the equipment. Identify the depreciation methods that meet Chyler Enterprises' objectives, assuming the income tax authorities permit the use of any method. 3. Show how Chyler Enterprises, Inc., would report equipment on the December 31, 2018, balance sheet for each depreciation method. Print Done parts remaining HW Score 40 % , 4 of 10 pts : X P8-48A (similar to Question Hep * Consider the folowing jClick the loon to view the information.) Read the requiremets Requirement 1. For each depreciation method, prepare a depreciation schedule showing asset cost, depreciation expense, accumulated depreciasion, and asset book value for each year of the assers ile For the unis of production method, ound depreciation per unit to three decimal places Before complieting the straight-line depreciation schedule, caloulale the straight-line depreciation ate One Score: 0.02 of 2 pts Question Help P8-48A (similar to) For the uris of produetion and asset book Snow how Chyler Print Done Choose from any list or enter any number in the input fielids and then click Check Anwer Check Answer Clear All depreciation per ound More Info n expense, accumulated depreciation, and asset book value for each year of the asset's life. For the units of production methood More Info On January 1, 2018, Chyler Enterprises, Inc., paid $265,500 for equipment used in manufacturing automotive supplies. In addition to the basic purchase price, the company paid $300 for transportation charges, $100 for insurance for the equipment while in transit, $11,100 sales tax, and $3,000 for a special platform on which to place the equipment in the plant. Management of Chyler Enterprises, Inc., estimates that the equipment will remain in service for five years and have a residual value of $30,000. The equipment will produce 90,000 units the first year, with annual production decreasing by 5,000 units during each of the next four years (i.e., 85,000 units in year 2: 80,000 units in year 3; and so on, for a total of 400,000 units). In trying to decide which depreciation method to use, Chyler Enterprises, Inc., requested a depreciation schedule for each of the three depreciation methods (straight-line, units of production, and double-declining balance). Print Done Before completing the straight-line depreciation schedule, calculate the straight-line depreciation rate. One (SL) Depreciation rate Useful life year i Requirements 1. For each depreciation method, prepare a depreciation schedule showing asset cost, depreciation expense, accumulated depreciation, and asset book value for each year of the asset's life. For the units of production method, round depreciation per unit to three decimal places. 2. Chyler Enterprises, Inc., prepares financial statements using the depreciation method that reports the highest income in the early years of asset use. For income tax purposes, the company uses the depreciation method that minimizes income taxes in the early years. Consider the first year Chyler Enterprises, Inc., uses the equipment. Identify the depreciation methods that meet Chyler Enterprises' objectives, assuming the income tax authorities permit the use of any method. 3. Show how Chyler Enterprises, Inc., would report equipment on the December 31, 2018, balance sheet for each depreciation method. Print Done parts remaining HW Score 40 % , 4 of 10 pts : X P8-48A (similar to Question Hep * Consider the folowing jClick the loon to view the information.) Read the requiremets Requirement 1. For each depreciation method, prepare a depreciation schedule showing asset cost, depreciation expense, accumulated depreciasion, and asset book value for each year of the assers ile For the unis of production method, ound depreciation per unit to three decimal places Before complieting the straight-line depreciation schedule, caloulale the straight-line depreciation ate One

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