Duluth Ranch, Incorporated purchased a machine on January 1, 2021. The cost of the machine was $23.000. Its estimated residual value was $7.000 at the end of an estimated 5-year life. The company expects to produce a total of 20,000 units. The company produced 900 units in 2021 and 1.350 units in 2022. Required: a. Calculate depreciation expense for 2021 and 2022 using the straight-line method. b. Calculate the depreciation expense for 2021 and 2022 using the units of production method. e. Calculate depreciation expense for 2021 through 2025 using the double-declining balance method. Complete this question by entering your answers in the tabs below. Required A Required b Required C Calculate depreciation expense for 2021 and 2022 using the straight-line method. 2021 Depreciation Expense Per Year 2022
Duluth Ranch, Incorporated purchased a machine on January 1, 2021. The cost of the machine was $23.000. Its estimated residual value was $7.000 at the end of an estimated 5-year life. The company expects to produce a total of 20,000 units. The company produced 900 units in 2021 and 1.350 units in 2022. Required: a. Calculate depreciation expense for 2021 and 2022 using the straight-line method. b. Calculate the depreciation expense for 2021 and 2022 using the units of production method. e. Calculate depreciation expense for 2021 through 2025 using the double-declining balance method. Complete this question by entering your answers in the tabs below. Required A Required b Required C Calculate depreciation expense for 2021 and 2022 using the straight-line method. 2021 Depreciation Expense Per Year 2022
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
![Duluth Ranch, Incorporated purchased a machine on January 1, 2021. The cost of the machine was $23,000. Its estimated residual
value was $7.000 at the end of an estimated 5-year life. The company expects to produce a total of 20,000 units. The company
produced 900 units in 2021 and 1,350 units in 2022.
Required:
a. Calculate depreciation expense for 2021 and 2022 using the straight-line method.
b. Calculate the depreciation expense for 2021 and 2022 using the units-of-production method.
c. Calculate depreciation expense for 2021 through 2025 using the double-declining balance method.
Complete this question by entering your answers in the tabs below.
Required A Required B Required C
Calculate depreciation expense for 2021 and 2022 using the straight-line method.
2021
Depreciation Expense Per Year
Duluth Ranch, Incorporated purchased a machine on January 1, 2021. The cost of the machine was $23,000. Its estimated residual
value was $7.000 at the end of an estimated 5-year life. The company expects to produce a total of 20,000 units. The company.
produced 900 units in 2021 and 1.350 units in 2022.
Required:
a. Calculate depreciation expense for 2021 and 2022 using the straight-line method.
b. Calculate the depreciation expense for 2021 and 2022 using the units-of-production method.
c. Calculate depreciation expense for 2021 through 2025 using the double-declining balance method.
Depreciation Expense
Complete this question by entering your answers in the tabs below.
E RESURSER
Required A Required B
Calculate the depreciation expense for 2021 and 2022 using the units-of-production method. (Do not round your intermediate
calculations. Round your final answers to the nearest whole dollar.)
2022
Required C
2021
Required A
2022
Depreciation Expense
< Required A
Required B >
Duluth Ranch, Incorporated purchased a machine on January 1, 2021. The cost of the machine was $23,000. Its estimated residual
value was $7,000 at the end of an estimated 5-year life. The company expects to produce a total of 20,000 units. The company
produced 900 units in 2021 and 1,350 units in 2022.
Required:
a. Calculate depreciation expense for 2021 and 2022 using the straight-line method.
b. Calculate the depreciation expense for 2021 and 2022 using the units-of-production method.
c. Calculate depreciation expense for 2021 through 2025 using the double-declining balance method.
2021
Complete this question by entering your answers in the tabs below.
Required B Required C
Calculate depreciation expense for 2021 through 2025 using the double-declining balance method. (Round your final answers
to nearest whole dollar)
2022
Required C >
Required B
2023
2024
Required C
2025](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fa8edb1ae-a456-4939-9152-e7a523d58601%2F84d899d7-22b3-4066-b166-0314b8a55c8f%2Foboc2ck_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Duluth Ranch, Incorporated purchased a machine on January 1, 2021. The cost of the machine was $23,000. Its estimated residual
value was $7.000 at the end of an estimated 5-year life. The company expects to produce a total of 20,000 units. The company
produced 900 units in 2021 and 1,350 units in 2022.
Required:
a. Calculate depreciation expense for 2021 and 2022 using the straight-line method.
b. Calculate the depreciation expense for 2021 and 2022 using the units-of-production method.
c. Calculate depreciation expense for 2021 through 2025 using the double-declining balance method.
Complete this question by entering your answers in the tabs below.
Required A Required B Required C
Calculate depreciation expense for 2021 and 2022 using the straight-line method.
2021
Depreciation Expense Per Year
Duluth Ranch, Incorporated purchased a machine on January 1, 2021. The cost of the machine was $23,000. Its estimated residual
value was $7.000 at the end of an estimated 5-year life. The company expects to produce a total of 20,000 units. The company.
produced 900 units in 2021 and 1.350 units in 2022.
Required:
a. Calculate depreciation expense for 2021 and 2022 using the straight-line method.
b. Calculate the depreciation expense for 2021 and 2022 using the units-of-production method.
c. Calculate depreciation expense for 2021 through 2025 using the double-declining balance method.
Depreciation Expense
Complete this question by entering your answers in the tabs below.
E RESURSER
Required A Required B
Calculate the depreciation expense for 2021 and 2022 using the units-of-production method. (Do not round your intermediate
calculations. Round your final answers to the nearest whole dollar.)
2022
Required C
2021
Required A
2022
Depreciation Expense
< Required A
Required B >
Duluth Ranch, Incorporated purchased a machine on January 1, 2021. The cost of the machine was $23,000. Its estimated residual
value was $7,000 at the end of an estimated 5-year life. The company expects to produce a total of 20,000 units. The company
produced 900 units in 2021 and 1,350 units in 2022.
Required:
a. Calculate depreciation expense for 2021 and 2022 using the straight-line method.
b. Calculate the depreciation expense for 2021 and 2022 using the units-of-production method.
c. Calculate depreciation expense for 2021 through 2025 using the double-declining balance method.
2021
Complete this question by entering your answers in the tabs below.
Required B Required C
Calculate depreciation expense for 2021 through 2025 using the double-declining balance method. (Round your final answers
to nearest whole dollar)
2022
Required C >
Required B
2023
2024
Required C
2025
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