Change in depreciation (using straight line)Using the same asset as before...KKAC, INC decided to invest $6,075 cash into the equipment for capitalimprovements on Feb 28, 2023.This will allow the equipment to last 3 years from the date of the improvements andimprove the equipment's productivity. The salvage value is now expected to be ZEROand the company is continuing to use the Straight Line method.Calculate depreciation expense for:Round answers to WHOLE dollars (no decimals)2023 $2024 $Round to whole dollars. SHOW YOUR WORK on your PDF file upload DEPRECIATION OF FIXED ASSETS:ASSET INFO: use the following information for all of the depreciation related questions that follow.Keeping Kids Active Company, Inc makes playground balls for children. KKAC, Incpurchased and began using (placed in service) a piece of equipment to help thecompany make the balls on September 1, 2020. The equipment cost $56,000 topurchase, $4,000 for delivery and installation (combined).At the time of purchase, KKAC estimates this equipment will be used for 4 years andhave a salvage value of $6,00O.KKAC expects to make 250,000 playground balls in total with this equipment.*** Determine the Asset Cost (acquisition cost) of this asset.Show your calculations on your PDF upload.

Calculation of depreciation after the improvement done on 28/02/2023 Cash invested in equipment for…

Change in depreciation (using straight line) Using the same asset as before... KKAC, INC decided to invest $6,075 cash into the equipment for capital improvements on Feb 28, 2023. This will allow the equipment to last 3 years from the date of the improvements and improve the equipment's productivity. The salvage value is now expected to be ZERO and the company is continuing to use the Straight Line method. Calculate depreciation expense for: Round answers to WHOLE dollars (no decimals) 2023 $ 2024 $ Round to whole dollars. SHOW YOUR WORK on your PDF file upload

Change in depreciation (using straight line) Using the same asset as before... KKAC, INC decided to invest $6,075 cash into the equipment for capital improvements on Feb 28, 2023. This will allow the equipment to last 3 years from the date of the improvements and improve the equipment's productivity. The salvage value is now expected to be ZERO and the company is continuing to use the Straight Line method. Calculate depreciation expense for: Round answers to WHOLE dollars (no decimals) 2023 $ 2024 $ Round to whole dollars. SHOW YOUR WORK on your PDF file upload

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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