Assume Organic Ice Cream Company, Inc., bought a new ice cream production kit (pasteurizer/homogenizer, cooler, aging Vat, freezer. and filling machine) at the beginning of the year at a cost of $32,000. The estimated useful life was four years, and the residual value was $3,400. Assume that the estimated productive life of the machine was 11,000 hours. Actual annual usage was 4,400 hours in Year t: 3,300 hours in Year 2; 2,200 hours in Year 3; and 1,100 hours in Year 4. Required: 1. Complete a separate depreciation schedule for each of the alternative methods. a. Straight-line. b. Units-of-production. c. Double-declining-balance.

Assume Organic Ice Cream Company, Inc., bought a new ice cream production kit (pasteurizer/homogenizer, cooler, aging Vat, freezer. and filling machine) at the beginning of the year at a cost of $32,000. The estimated useful life was four years, and the residual value was $3,400. Assume that the estimated productive life of the machine was 11,000 hours. Actual annual usage was 4,400 hours in Year t: 3,300 hours in Year 2; 2,200 hours in Year 3; and 1,100 hours in Year 4. Required: 1. Complete a separate depreciation schedule for each of the alternative methods. a. Straight-line. b. Units-of-production. c. Double-declining-balance.

Name: Sh19 Assume Organic Ice Cream Company, Inc., bought a new ice cream pr
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Description: Sh19 Assume Organic Ice Cream Company, Inc., bought a new ice cream production kit (pasteurizer/homogenizer, cooler, aging vat, freezer,and filling machine) at the beginning of the year at a cost of $32,000. The estimated useful life was four years,

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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