Do in excel please Depreciable mining equipment costing $100,000 is expected to have a useful life of 120,000 units ofproduction. Salvage value is 0, estimated annual production for the next seven years is 30,000 units,30,000, 20,000, then 10,000 units per year over the remaining four years. Total = 120,000 units.%3DUsing the depreciation method "units of production", determine the allowable annual depreciationfor each of the seven years.Using the MACRS method of depreciation, determine the allowable annual depreciation for eachyear, assuming the half year convention, i.e. depreciation over 8 years.

Units of Production method Depreciation = Cost Of Asst - Salvage valueEstimated total production…

Depreciable mining equipment costing $100,000 is expected to have a useful life of 120,000 units of production. Salvage value is 0, estimated annual production for the next seven years is 30,000 units, 30,000, 20,000, then 10,000 units per year over the remaining four years. Total = 120,000 units. Using the depreciation method "units of production", determine the allowable annual depreciation for each of the seven years. Using the MACRS method of depreciation, determine the allowable annual depreciation for each year, assuming the half year convention, i.e. depreciation over 8 years.

Depreciable mining equipment costing $100,000 is expected to have a useful life of 120,000 units of production. Salvage value is 0, estimated annual production for the next seven years is 30,000 units, 30,000, 20,000, then 10,000 units per year over the remaining four years. Total = 120,000 units. Using the depreciation method "units of production", determine the allowable annual depreciation for each of the seven years. Using the MACRS method of depreciation, determine the allowable annual depreciation for each year, assuming the half year convention, i.e. depreciation over 8 years.

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

What is a data dictionary, and what purpose does it serve?
Define SML equation
show in excel form
Describe the features of JIT.
Which excel formula is this
Required information [The following information applies to the questions displayed below.] Consider the following narrative describing the process of filling a customer's order at a Starbucks branch: Identify the start and end events and the activities in the following narrative, and then draw the business process model using BPMN: the Starbucks customer entered the drive-through lane and stopped to review the menu. He then ordered a Venti coffee of the day and a blueberry muffin from the barista. The barista recorded the order in the cash register. While the customer drove to the window, the barista filled a Venti cup with coffee, put a lid on it, and retrieved the muffin from the pastry case and placed it in a bag. The barista handed the bag with the muffin and the hot coffee to the customer. The customer has an option to pay with cash, credit card, or Starbucks gift card. The customer paid with a gift card. The barista recorded the payment and returned the card along with the…
Explain FIFO & LIFO .
how do you calculat mpg in excel?
Can you use excel to do the data please.
How do you make a two-dimensional columnar chart in excel?
Hi can you show how to input in excel using the pmt formula thank you so much
can you please show me how to calculate this without using excel? Thanks