E9-7 Computing Depreciation under Alternative Methods [LO 9-3] Sushi Corp. purchased and installed electronic payment equipment at its drive-in restaurants in San Marcos, TX, at a cost of $51,300. The equipment has an estimated residual value of $3,300. The equipment is expected to process 267,000 payments over its three-year useful life. Per year, expected payment transactions are 64,080, year 1; 146,850, year 2; and 56,070, year 3. Required: Complete a depreciation schedule for each of the alternative methods. 1. Straight-line. 2. Units-of-production. 3. Double-declining-balance. Complete this question by entering your answers in the tabs below. Required Required Required 1 2 3 Complete a depreciation schedule for Units-of-production method. (Do not round intermediate calculations.) Year At acquisition 1 2 Income Statement Depreciation Expense Cost Balance Sheet Accumulated Book DepreciationValue
E9-7 Computing Depreciation under Alternative Methods [LO 9-3] Sushi Corp. purchased and installed electronic payment equipment at its drive-in restaurants in San Marcos, TX, at a cost of $51,300. The equipment has an estimated residual value of $3,300. The equipment is expected to process 267,000 payments over its three-year useful life. Per year, expected payment transactions are 64,080, year 1; 146,850, year 2; and 56,070, year 3. Required: Complete a depreciation schedule for each of the alternative methods. 1. Straight-line. 2. Units-of-production. 3. Double-declining-balance. Complete this question by entering your answers in the tabs below. Required Required Required 1 2 3 Complete a depreciation schedule for Units-of-production method. (Do not round intermediate calculations.) Year At acquisition 1 2 Income Statement Depreciation Expense Cost Balance Sheet Accumulated Book DepreciationValue
Chapter1: Financial Statements And Business Decisions
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Depreciation Methods
The word "depreciation" is defined as an accounting method wherein the cost of tangible assets is spread over its useful life and it usually denotes how much of the assets value has been used up. The depreciation is usually considered as an operating expense. The main reason behind depreciation includes wear and tear of the assets, obsolescence etc.
Depreciation Accounting
In terms of accounting, with the passage of time the value of a fixed asset (like machinery, plants, furniture etc.) goes down over a specific period of time is known as depreciation. Now, the question comes in your mind, why the value of the fixed asset reduces over time.
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![E9-7 Computing Depreciation under Alternative Methods [LO 9-3]
Sushi Corp. purchased and installed electronic payment equipment at its drive-in restaurants in San Marcos, TX, at a
cost of $51,300. The equipment has an estimated residual value of $3,300. The equipment is expected to process
267,000 payments over its three-year useful life. Per year, expected payment transactions are 64,080, year 1; 146,850,
year 2; and 56,070, year 3.
Required:
Complete a depreciation schedule for each of the alternative methods.
1. Straight-line.
2. Units-of-production.
3. Double-declining-balance.
Complete this question by entering your answers in the tabs below.
Required Required Required
1
2
3
Complete a depreciation schedule for Units-of-production method. (Do not round
intermediate calculations.)
Year
At
acquisition
1
2
3
Income
Statement
Depreciation Cost
Expense
1. Straight-line.
2. Units-of-production.
3. Double-declining-balance.
Year
At
acquisition
1
2
3
E9-7 Computing Depreciation under Alternative Methods [LO 9-3]
Sushi Corp. purchased and installed electronic payment equipment at its drive-in restaurants in San Marcos, TX, at a
cost of $51,300. The equipment has an estimated residual value of $3,300. The equipment is expected to process
267,000 payments over its three-year useful life. Per year, expected payment transactions are 64,080, year 1; 146,850,
year 2; and 56,070, year 3.
Required:
Complete a depreciation schedule for each of the alternative methods.
Balance Sheet
< Required 1
Income
Statement
Accumulated Book
DepreciationValue
Complete this question by entering your answers in the tabs below.
Required Required Required
red | | | ||
2
Depreciation
Expense
Complete a depreciation schedule for Double-declining-balance method. (Do not round
intermediate calculations.)
Cost
MON
Balance Sheet
Required 3 >
AccumulatedBook
DepreciationValue
< Required 2
8
www.N
Required 3>](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fb4a77155-f926-48a9-a261-c8a1a2f25525%2F47afa1c5-61ee-4383-8690-c1c652b53b34%2Fxdwlwl9_processed.jpeg&w=3840&q=75)
Transcribed Image Text:E9-7 Computing Depreciation under Alternative Methods [LO 9-3]
Sushi Corp. purchased and installed electronic payment equipment at its drive-in restaurants in San Marcos, TX, at a
cost of $51,300. The equipment has an estimated residual value of $3,300. The equipment is expected to process
267,000 payments over its three-year useful life. Per year, expected payment transactions are 64,080, year 1; 146,850,
year 2; and 56,070, year 3.
Required:
Complete a depreciation schedule for each of the alternative methods.
1. Straight-line.
2. Units-of-production.
3. Double-declining-balance.
Complete this question by entering your answers in the tabs below.
Required Required Required
1
2
3
Complete a depreciation schedule for Units-of-production method. (Do not round
intermediate calculations.)
Year
At
acquisition
1
2
3
Income
Statement
Depreciation Cost
Expense
1. Straight-line.
2. Units-of-production.
3. Double-declining-balance.
Year
At
acquisition
1
2
3
E9-7 Computing Depreciation under Alternative Methods [LO 9-3]
Sushi Corp. purchased and installed electronic payment equipment at its drive-in restaurants in San Marcos, TX, at a
cost of $51,300. The equipment has an estimated residual value of $3,300. The equipment is expected to process
267,000 payments over its three-year useful life. Per year, expected payment transactions are 64,080, year 1; 146,850,
year 2; and 56,070, year 3.
Required:
Complete a depreciation schedule for each of the alternative methods.
Balance Sheet
< Required 1
Income
Statement
Accumulated Book
DepreciationValue
Complete this question by entering your answers in the tabs below.
Required Required Required
red | | | ||
2
Depreciation
Expense
Complete a depreciation schedule for Double-declining-balance method. (Do not round
intermediate calculations.)
Cost
MON
Balance Sheet
Required 3 >
AccumulatedBook
DepreciationValue
< Required 2
8
www.N
Required 3>
![es
E9-7 Computing Depreciation under Alternative Methods [LO 9-3]
Sushi Corp. purchased and installed electronic payment equipment at its drive-in restaurants in San Marcos, TX, at a
cost of $51,300. The equipment has an estimated residual value of $3,300. The equipment is expected to process
267,000 payments over its three-year useful life. Per year, expected payment transactions are 64,080, year 1; 146,850,
year 2; and 56,070, year 3.
Required:
Complete a depreciation schedule for each of the alternative methods.
1. Straight-line.
2. Units-of-production.
3. Double-declining-balance.
Complete this question by entering your answers in the tabs below.
Required Required Required
1
2
3
Complete a depreciation schedule for Straight-line method. (Do not round intermediate
calculations.)
Year
At
acquisition
1
2
3
Income
Statement
Depreciation
Expense
Cost
Balance Sheet
Accumulated Book
DepreciationValue
< Required 1
Required 2 >](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fb4a77155-f926-48a9-a261-c8a1a2f25525%2F47afa1c5-61ee-4383-8690-c1c652b53b34%2Fu04172a_processed.png&w=3840&q=75)
Transcribed Image Text:es
E9-7 Computing Depreciation under Alternative Methods [LO 9-3]
Sushi Corp. purchased and installed electronic payment equipment at its drive-in restaurants in San Marcos, TX, at a
cost of $51,300. The equipment has an estimated residual value of $3,300. The equipment is expected to process
267,000 payments over its three-year useful life. Per year, expected payment transactions are 64,080, year 1; 146,850,
year 2; and 56,070, year 3.
Required:
Complete a depreciation schedule for each of the alternative methods.
1. Straight-line.
2. Units-of-production.
3. Double-declining-balance.
Complete this question by entering your answers in the tabs below.
Required Required Required
1
2
3
Complete a depreciation schedule for Straight-line method. (Do not round intermediate
calculations.)
Year
At
acquisition
1
2
3
Income
Statement
Depreciation
Expense
Cost
Balance Sheet
Accumulated Book
DepreciationValue
< Required 1
Required 2 >
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step 1: Introduce to depreciation expense, accumulated depreciation and Book Value
VIEWStep 2: Working for Depreciation Expense and accumulated using straight line method
VIEWStep 3: Working for depreciation expense and accumulated depreciation using units of production method
VIEWStep 4: Working for depreciation expense and accumulated depreciation using double declining balance method
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