A machine with a cost of $560,000 has an estimated salvage value of $8)0,000 and an estimated useful life of 5 years or 40,000 hours. It is to be depreciated using the units-of-activity method of depreciation. The machine was used for 9,000 hours in the first year and 9,000 hours in the second year. Calculate the depreciation expense for the second year using the units of activity method. (Please round answer to the nearest dollar, Le 3,078.666 would be entered as 3,079)
A machine with a cost of $560,000 has an estimated salvage value of $8)0,000 and an estimated useful life of 5 years or 40,000 hours. It is to be depreciated using the units-of-activity method of depreciation. The machine was used for 9,000 hours in the first year and 9,000 hours in the second year. Calculate the depreciation expense for the second year using the units of activity method. (Please round answer to the nearest dollar, Le 3,078.666 would be entered as 3,079)
College Accounting, Chapters 1-27
23rd Edition
ISBN:9781337794756
Author:HEINTZ, James A.
Publisher:HEINTZ, James A.
Chapter18: Accounting For Long-term Assets
Section: Chapter Questions
Problem 3CE: A machine costing 350,000 has a salvage value of 15,000 and an estimated life of three years....
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please solve upper first as per guideline thnx
![A machine with a cost of $560,000 has an estimated salvage value of $830,000 and an estimated useful ife of 5 years or 40,000 hours. It is
to be depreciated using the units-of-activity method of depreciation. The machine was used for 9.000 hours in the first year and 9,000 hours
in the second year.
Calculate the depreciation expense for the second year using the units of activity method. (Please round answer to the nearest dollar, Le.
3,078.666 would be entered as 3,079)
QUESTION 33
Compaq Company purchased a new van for floral deliveries on January 1, 2020. The van cost $142.000 with an estimated life of 4 years
and $14,000 salvage value at the end of its useful life. The double-declining-balance method of depreciation will be used.
Calculate the accumulated depreciation at the end of December 31, 2021 using the double-declining method. (Please enter answer
rounded to the nearest dollar, i.e. 3,078.923 would be entered as 3,079)
QUESTION 34
Unearned Rent Revenue is
O a contra account to Rent Revenue.
a revenue account.
reported as a current liability.
debited when rent is received in advance.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Ff3b8e68f-3309-475d-aa8e-1dccd17db797%2F640814bd-dfaa-4cc0-808b-a87e62abee74%2Fjojh0mu_processed.jpeg&w=3840&q=75)
Transcribed Image Text:A machine with a cost of $560,000 has an estimated salvage value of $830,000 and an estimated useful ife of 5 years or 40,000 hours. It is
to be depreciated using the units-of-activity method of depreciation. The machine was used for 9.000 hours in the first year and 9,000 hours
in the second year.
Calculate the depreciation expense for the second year using the units of activity method. (Please round answer to the nearest dollar, Le.
3,078.666 would be entered as 3,079)
QUESTION 33
Compaq Company purchased a new van for floral deliveries on January 1, 2020. The van cost $142.000 with an estimated life of 4 years
and $14,000 salvage value at the end of its useful life. The double-declining-balance method of depreciation will be used.
Calculate the accumulated depreciation at the end of December 31, 2021 using the double-declining method. (Please enter answer
rounded to the nearest dollar, i.e. 3,078.923 would be entered as 3,079)
QUESTION 34
Unearned Rent Revenue is
O a contra account to Rent Revenue.
a revenue account.
reported as a current liability.
debited when rent is received in advance.
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