Question

Compute the depreciation schedule using straight line method for a copy machine that costs $51,186 and...

Compute the depreciation schedule using straight line method for a copy machine that costs $51,186 and has SV of $1,783 at the end of a 12-year depreciable life.

Business   Finance   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

Depreciation per year = (Initial cost - Salvage value) / Life in years

Depreciation per year = (51,186 -1,783)/12 = $4116.91 per year

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
From the following facts, complete a depreciation schedule by using the straight-line method: (Input all amounts...
From the following facts, complete a depreciation schedule by using the straight-line method: (Input all amounts as positive values.) Cost of Honda Accord Hybrid $ 39,600 Residual value $ 5,800 Estimated life 8 years End of year Cost of Honda Accord Depreciation expense for the year Accumulated depreciation at end of year Book value at end of year 1 $ $ $ $ 2 $ $ $ $ 3 $ $ $ $ 4 $ $ $ $ 5 $...
Cheetah Copy purchased a new copy machine. The new machine cost $136,000 including installation. The company...
Cheetah Copy purchased a new copy machine. The new machine cost $136,000 including installation. The company estimates the equipment will have a residual value of $34,000. Cheetah Copy also estimates it will use the machine for four years or about 8,000 total hours. Actual use per year was as follows: Year Hours Used 1 2,900 2 1,900 3 1,900 4 3,500 1. Prepare a depreciation schedule for four years using the straight-line method. CHEETAH COPY Depreciation Schedule—Straight-Line End of Year...
Which of the following statements is true when the straight-line method is used to compute depreciation...
Which of the following statements is true when the straight-line method is used to compute depreciation expense? 1) All statements are true. 2) Carrying value is constant during an asset's useful life. 3) Depreciation expense equals the depreciable cost divided by an asset's useful life. 4) Accumulated depreciation is constant during an asset's estimated useful life.
Compute the depreciation each year of a machine that costs $66,000 to purchase, and $4,000 to...
Compute the depreciation each year of a machine that costs $66,000 to purchase, and $4,000 to install with an 8-year life. Use the DDB method (multiplier = 2) switching to straight line depreciation when appropriate. Assume a salvage value of $0.
. Straight-line depreciation method: A unit of equipment is purchased for $100,000, which is expected to...
. Straight-line depreciation method: A unit of equipment is purchased for $100,000, which is expected to be used 2,000 hr/yr. The anticipated salvage value is $20,000 at the end of its 4-year useful life. Calculate the hourly depreciation costs using the straight-line depreciation method.
Apex Fitness Club uses straight-line depreciation for a machine costing $23,860, with an estimated four-year life...
Apex Fitness Club uses straight-line depreciation for a machine costing $23,860, with an estimated four-year life and a $2,400 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.    Required: 1. Compute the machine’s book value at the end of its second year. 2. Compute the amount of depreciation for each of the final three years given...
Compute the depreciation each year of a machine that costs $52,000 to purchase, and $4,000 to...
Compute the depreciation each year of a machine that costs $52,000 to purchase, and $4,000 to install with an 8-year life. Use the DDB method (multiplier = 2) switching to straight line depreciation when appropriate. Assume a salvage value of $0. D1 =_____ D2 =_____ D3 =_____ D4 =_____ D5 =_____ D6 =_____ D7 =_____ D8 =_____
Apex Fitness Club uses straight-line depreciation for a machine costing $26,700, with an estimated four-year life...
Apex Fitness Club uses straight-line depreciation for a machine costing $26,700, with an estimated four-year life and a $2,850 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 $2,400 salvage value. Required: 1. Compute the machine’s book value at the end of its second year. 2. Compute the amount of depreciation for each of the final three years given the...
Apex Fitness Club uses straight-line depreciation for a machine costing $25,300, with an estimated four-year life...
Apex Fitness Club uses straight-line depreciation for a machine costing $25,300, with an estimated four-year life and a $2,250 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 $1,800 salvage value. Required: 1. Compute the machine’s book value at the end of its second year. 2. Compute the amount of depreciation for each of the final three years given the...
A copy machine acquired on May 1 with a cost of $2,545, estimated useful life of...
A copy machine acquired on May 1 with a cost of $2,545, estimated useful life of 3 years, and residual value of $445. Determine the depreciation for the first and second year by the straight-line method and the net book value at the end of the second year. (Circle Final Answers) Straight Line Depreciation for Year 1: Depreciation per year: ($ 2,545 - $ 445) / 3 =$ 700 Per Year 1st year depreciation = 700 / 12 * 8...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT