Calculate depreciation for the machine under each of the following methods: (Round expense per unit to 2 decimal places, e.g. 2.75 and final answers to 0 decimal places, e.g. 5,275.) (1) Straight-line for 2017 through to 2021. 2017 expense 2018 expense $ 2019 expense 2020 expense $ 2021 expense $ $ $

Calculate depreciation for the machine under each of the following methods: (Round expense per unit to 2 decimal places, e.g. 2.75 and final answers to 0 decimal places, e.g. 5,275.) (1) Straight-line for 2017 through to 2021. 2017 expense 2018 expense $ 2019 expense 2020 expense $ 2021 expense $ $ $

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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Equipment that cost 412000 and on which 191000 of accumulated depreciation has been recorded was disposed of for 181000 cash. The entry to record this event would include a ? Equipment that cost $412000 and on which $191000 of accumulated depreciation has been recorded was disposed of for $181000 cash. The entry to record this event would include a O credit to Accumulated Depreciation for $191000. Ogain of $40000. credit to the Equipment account for $221000. loss of $40000.
Computing Partial Period Depreciation under Multiple Depreciation Methods Cruz Company purchased a computer on June 30, 2020, for $92,400. The computer had a salvage value of $26,400 and useful life of six years. Note: In answering the following questions, do not round until your final answer. Round your final answer to the nearest whole dollar. a. Using the declining-balance depreciation method (200%), determine depreciation expense for 2021. Answer b. Using the declining-balance depreciation method (150%), determine depreciation expense for 2021. Answer c. Using the straight-line depreciation method, determine depreciation expense for 2021. Answer
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