Bitter Company acquired a machinery on April 1, 2020. Problem 27-9 (ACP) siter Company acquired a machinery on April 1, 2020. Cost Residual value Estimated useful life What is the depreciation for 2020 using sum of years 1,200,000 120,000 8 years digits? a 180,000 b. 240,000 e. 120,000 d. 160,000 2 What is the depreciation for 2021 using sum of years' digits? a 157,500 ь. 217,500 e. 210,000 d. 105,000 3. What is the depreciation for 2020 using double declining balance? a. 300,000 b. 150,000 c. 225,000 d. 202,500 4 What the depreciation for 2021 using double declining balance?

Bitter Company acquired a machinery on April 1, 2020. Problem 27-9 (ACP) siter Company acquired a machinery on April 1, 2020. Cost Residual value Estimated useful life What is the depreciation for 2020 using sum of years 1,200,000 120,000 8 years digits? a 180,000 b. 240,000 e. 120,000 d. 160,000 2 What is the depreciation for 2021 using sum of years' digits? a 157,500 ь. 217,500 e. 210,000 d. 105,000 3. What is the depreciation for 2020 using double declining balance? a. 300,000 b. 150,000 c. 225,000 d. 202,500 4 What the depreciation for 2021 using double declining balance?

Name: Bitter Company acquired a machinery on April 1, 2020.Problem 27-9 (AC
Uploaded: 2024-03-05T11:50:36.000Z
Channel: Bartleby
Description: Bitter Company acquired a machinery on April 1, 2020.Problem 27-9 (ACP)CostResidual valueEstimated useful lifeWhat is the depreciation for 2020 using sum of years'1,200,000120,0008 yearsdigits?a. 180,000b. 240,000c. 120,000d. 160,0001 What is the de

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

Depreciation Methods Berkshire Corporation purchased a copying machine for $9,800 on January 1, 2019. The machine's residual value was $1,175 and its expected life was 5 years or 2,000,000 copies. Actual usage was 480,000 copies in the first year and 446,000 in the second year. Required: 1. Compute depreciation expense for 2019 and 2020 using the: a. Straight-line method. Depreciation expense: $fill in the blank 1 per year b. Double-declining-balance method. Depreciation Expense 2019 $fill in the blank 2 2020 $fill in the blank 3 c. Units-of-production method. (Do not round intermediate calculations. Round your final answers to the nearest whole dollar.) Depreciation Expense 2019 $fill in the blank 4 2020 $fill in the blank 5 2. For each depreciation method, what is the book value of the machine at the end of 2019? At the end of 2020? If required, round your answers to the nearest whole dollar. 2019 2020 a. Straight-line method $fill in the blank 6…
A B C D E 1 Sullivan Ranch Corporation has purchased a new tractor. The following information is given: 2 3 Cost: $ 150,000 4 Estimated Residual: $ 5 Estimated Life in years: 10,000 4 6 Estimated Life in hours: 1200 7 Actual Hours: 8 Year 1 360 9 Year 2 270 10 Year 3 350 11 Year 4 220 12 Prepare the following Straight Line depreciation schedule by using the excel SLN FUNCTION (fx) to calculate the 13 Depreciation Expense for Years 1-4 in the Depreciation Expense column. Enter formulas or absolute cell references for the remaining cells. 14 15 SULLIVAN RANCH CORPORATION Depreciation Schedule-Straight Line Method 16 17 18 End of year amounts Depreciation Expense Accumulated Depreciation 19 Year Book Value =SLN($B$3 =SNL($B$3,$B$4,$B$5) 20 1 21 22 3 23 4 24 Total 25 Prepare the following Units-of-Production depreciation schedule by entering formulas. 26 Use absolute cell references when appropriate. SULLIVAN RANCH CORPORATION Depreciation Schedule-Units-of-Production Method End of year…
Atlas Company acquired PPE on January 1, 2022 consisting of: Cost Residual Value Useful Life (yrs)Building P10,000,000 350,000 25Machinery 4,500,000 120,000 8Equipment 2,030,000 80,000 15 4. What is the composite rate of the assets’ depreciation? a. 15.6%b. 22.25% c. 22.4% d. 25.1%5. What is the composite life of the PPEs acquired? a. 22 yearsb. 25 years c. 16 years d. 18 years
Calculate Admissible depreciation, Including Additional Depreciation Particulars Amount Rate 1 Building 15,00,000 10% 2 Plant & Machinery 18,00,000 15% Addition : 30-07-2020 2,00,000 15-03-2021 2,50,000 Sale of Plant (01-12-2020) 12,00,000 Computer (Bought on 19-12-2020) 1,00,000 40%
Please help me with show all calculation thanku
from the following facts,for straight line depreciation what is given cost - $35,000 residual value - $15,000 est useful life - 4 required: cost of equipment at the end of year 2
Presented below is information related to equipment owned by Oriole SpA at December 31, 2022. Cost Accumulated depreciation to date Value-in-use Fair value less cost of disposal (a) €10,620,000 Oriole intends to dispose of the equipment in the coming year. As of December 31, 2022, the equipment has a remaining useful life of 4 years. Date 1,180,000 Dec. 31 8,260,000 5,192,000 Prepare the journal entry (if any) to record the impairment of the asset at December 31, 2022. (If no entry is required, select "No entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit
None
A10
s
Bruce Company acquired a machinery on April 1, 2020. Cost P 1,200,000 Residual Value P 120,000 Estimated Useful Life 8 years What is the depreciation for 2020 using double declining balance? A. P300,000 B. P150,000 C. P225,000 D. P202,500 What is the depreciation for 2021 using double declining balance? A. P270,000 B. P135,000 C. P243,750 D. P150,000
None