Exact Photo Service purchased a new color printer at the beginning of Year 1 for $37,290. The printer is expected to have a four-year useful life and a $3.300 salvage value. The expected print production is estimated at $1,771,700 pages. Actual print production for the four years was as follows: 545,900 Year 1 Year 2 481,800 Year 3 384,500 Year 4 387,500 Total 1,799,700 The printer was sold at the end of Year 4 for $3,700. Required: a. Compute the depreciation expense for each of the four years, using double-declining-balance depreciation. Note: Do not round intermediate calculations. Round your answers to the nearest whole dollar amount.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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am. 1111.

Required information
[The following Information applies to the questions displayed below.]
Exact Photo Service purchased a new color printer at the beginning of Year 1 for $37,290. The printer is expected to have
a four-year useful life and a $3,300 salvage value. The expected print production is estimated at $1,771,700 pages. Actual
print production for the four years was as follows:
Year 1
545,900
Year 2
481,800
Year 3
384,500
Year 4
387,500
1,799,700
Total
The printer was sold at the end of Year 4 for $3,700.
Required:
a. Compute the depreciation expense for each of the four years, using double-declining-balance depreciation.
Note: Do not round intermediate calculations. Round your answers to the nearest whole dollar amount.
Depreciation
Expense
Year 1
Year 2
Year 3
Year 4
Total accumulated depreciation
$
0
Transcribed Image Text:Required information [The following Information applies to the questions displayed below.] Exact Photo Service purchased a new color printer at the beginning of Year 1 for $37,290. The printer is expected to have a four-year useful life and a $3,300 salvage value. The expected print production is estimated at $1,771,700 pages. Actual print production for the four years was as follows: Year 1 545,900 Year 2 481,800 Year 3 384,500 Year 4 387,500 1,799,700 Total The printer was sold at the end of Year 4 for $3,700. Required: a. Compute the depreciation expense for each of the four years, using double-declining-balance depreciation. Note: Do not round intermediate calculations. Round your answers to the nearest whole dollar amount. Depreciation Expense Year 1 Year 2 Year 3 Year 4 Total accumulated depreciation $ 0
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