50.1K

Verified Solution

Link Copied!

If 16,000 units of product are produced in 2025 and 24,000 units are produced in 2026 , what is the book value of the equipment at December 31,2026? The company uses the units-of-activity depreciation method. Book value at December 31,2026 $ eTextbook and Media List of Accounts Attempts: 0 of 8 used Using multiple attempts will impact your score. 10 score reduction after attempt 5 (c) The parts of this question must be completed in order. This part will be available when you complete the part above On July 1,2022, Crane Company purchased new equipment for $100,800. Its estimated useful life was 7 years with a $12,600 salvage value. On January 1,2025 , the company estimated that the equipment's remaining useful life was 10 vears, with a revised salvage value of $6,300. (a) 2. Your answer is partially correct. Prepare the journal entry to record depreciation on December 31, 2022. (List debit entry before credit entry, Credit occount titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account tities and enter ofor the amounts) If 16,000 units of product are produced in 2025 and 24,000 units are produced in 2026 , what is the book value of the equipment at December 31,2026? The company uses the units-of-activity depreciation method. Book value at December 31,2026 $ eTextbook and Media List of Accounts Attempts: 0 of 8 used Using multiple attempts will impact your score. 10 score reduction after attempt 5 (c) The parts of this question must be completed in order. This part will be available when you complete the part above On July 1,2022, Crane Company purchased new equipment for $100,800. Its estimated useful life was 7 years with a $12,600 salvage value. On January 1,2025 , the company estimated that the equipment's remaining useful life was 10 vears, with a revised salvage value of $6,300. (a) 2. Your answer is partially correct. Prepare the journal entry to record depreciation on December 31, 2022. (List debit entry before credit entry, Credit occount titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account tities and enter ofor the amounts)

Answer & Explanation Solved by verified expert

See Answer