Culver Automotive purchased equipment on October 1, 2024, at a total cost of $182,000. The machine has an estimated useful eight years or 100,000 hours, and an estimated residual value of $42,000. During 2024 and 2025, the machinery was used 6,300 14,700 hours, respectively. Calculate depreciation expense at December 31, 2024 and December 31, 2025, under the following depreciation methods: (Rou answers to O decimal places, e.g. 5,275. and Round Depreciation cost per unit to 1 decimal places, e.g. 527.5) Straight-line depreciation Units-of-production depreciation $ $ Double diminishing-balance depreciation $ 2024 $ $ +A $ 2025

Culver Automotive purchased equipment on October 1, 2024, at a total cost of $182,000. The machine has an estimated useful eight years or 100,000 hours, and an estimated residual value of $42,000. During 2024 and 2025, the machinery was used 6,300 14,700 hours, respectively. Calculate depreciation expense at December 31, 2024 and December 31, 2025, under the following depreciation methods: (Rou answers to O decimal places, e.g. 5,275. and Round Depreciation cost per unit to 1 decimal places, e.g. 527.5) Straight-line depreciation Units-of-production depreciation $ $ Double diminishing-balance depreciation $ 2024 $ $ +A $ 2025

Name: Culver Automotive purchased equipment on October 1, 2024, at a total
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Description: Culver Automotive purchased equipment on October 1, 2024, at a total cost of $182,000. The machine has an estimated useful life ofeight years or 100,000 hours, and an estimated residual value of $42,000. During 2024 and 2025, the machinery was used

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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