**Depreciation Calculation for Alfredo Company’s 3-D Printer**Alfredo Company purchased a new 3-D printer for $900,000. Although this printer is expected to last for ten years, Alfredo knows the technology will become outdated quickly, and so they plan to replace this printer in three years. At that point, Alfredo believes it will be able to sell the printer for $13,000. Calculate yearly depreciation using the double-declining-balance method. **Round final answers to the nearest whole dollar amount.****Year 1** $ ________**Year 2** $ ________**Year 3** $ ________ **Transaction Analysis for Fun Cards Sales on March 6**On March 6, Fun Cards sold 560 card decks to Padma Singh with a sales price of $10 per deck. The cost to Fun Cards is $3 per deck. You are required to prepare a journal entry for each of the two conditions below. Assume a 3% fee is charged by MoneyPlus for each sales transaction using its card.**A. Payment via a Credit, In-House Account**- **Journal Entry for Sale of Card Decks:** - Date: Mar. 6 - [Debit] Accounts Receivable - [Credit] Sales Revenue - [Amount: To be calculated as 560 decks x $10 per deck]- **Journal Entry for Cost of Sale:** - Date: Mar. 6 - [Debit] Cost of Goods Sold - [Credit] Inventory - [Amount: To be calculated as 560 decks x $3 per deck]**B. Payment Made Using a MoneyPlus Credit Card**- **Journal Entry for Sale of Card Decks with Credit Card Fee:** - Date: Mar. 6 - [Debit] Accounts Receivable - [Credit] Sales Revenue - [Credit] Credit Card Fee Expense - [Amount: Sales computed as 560 decks x $10, Credit Card Fee as 3% of sales amount]- **Journal Entry for Cost of Sale:** - Date: Mar. 6 - [Debit] Cost of Goods Sold - [Credit] Inventory - [Amount: To be calculated as 560 decks x $3 per deck]**Instructions:**- Leave any non-required amount boxes blank.- Round all financial figures to two decimal places.

Name: **Depreciation Calculation for Alfredo Company’s 3-D Printer**Alfredo
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Description: **Depreciation Calculation for Alfredo Company’s 3-D Printer**Alfredo Company purchased a new 3-D printer for $900,000. Although this printer is expected to last for ten years, Alfredo knows the technology will become outdated quickly, and so they p

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Alfredo Company purchased a new 3-D printer for $900,000. Although this printer is expected to last for ten years, Alfredo knows the technology will become old quickly, and so they plan to replace this printer in three years. At that point, Alfredo believes it will be able to sell the printer for $13,000. Calculate yearly depreciation using the double-declining-balance method. Round final answers to nearest whole dollar amount. Year 1 Year 2 Year 3

Alfredo Company purchased a new 3-D printer for $900,000. Although this printer is expected to last for ten years, Alfredo knows the technology will become old quickly, and so they plan to replace this printer in three years. At that point, Alfredo believes it will be able to sell the printer for $13,000. Calculate yearly depreciation using the double-declining-balance method. Round final answers to nearest whole dollar amount. Year 1 Year 2 Year 3

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Depreciation Methods A company wants to buy a new refrigerated truck for $5,000,000. The truck can be used for 4 years, then it has a market value of $360,000. You are asked to calculate the depreciation for each year for each of the four classic depreciation methods: a) straight line b) Declining balance of 150% c) Units of production method (given: use in year 1: 450,000 km, year 2: 410,000 km, year 3: 380,000 km, year 4: 330,000 km) Please solve in Excel and show the formulas. Please answer fast i give upvote.
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ANSWER AND SHOW WORK IN EXCEL ATTACHED IS QUESTION
Kenzie purchased a new 3-D printer for $450,000. Although this printer is expected to last for ten years, Kenzie knows the technology will become old quickly and so she plans to replace this printer in three years. At that point, Kenzie believes she will be able to sell the printer for $30,000. Calculate yearly depreciation using the double-declining-balance method. Calculate depreciation using the straight-line method.
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Sale of Machinery Raine Company has a machine that originally cost $170,000. Depreciation has been recorded for five years using the straight-line method, with a $12,500 estimated salvage value at the end of an expected nine-year life. After recording depreciation at the end of the fifth year, Raine sells the machine. a. Calculate the book value of the machine at the end of five years. $ (Answer) b. Calculate the gain/loss on the sale of the machine for:i. $92,500 cash. $ (Answer) ii. $82,500 cash. $ ( Answer) iii. $70,000 cash. $ (Answer) Enter losses using negative numbers.