Exercise 11-3Blue Spruce Corporation purchased a new plant asset on April 1, 2020, at a cost of $984,000. It was estimated to have a useful life of 20 years and aresidual value of $384,000, a physical life of 30 years, and a salvage value of $0. Blue Spruce's accounting period is the calendar year. Blue Spruceprepares financial statements in accordance with IFRS.Your answer is partially correct. Try again.Calculate the depreciation for this asset for 2020 and 2021 using the straight-line method. (Round answers to 0 decimal places, e.g. 5,275.)Depreciation2020202130000LINK TO TEXTX Your answer is incorrect. Try again.Calculate the depreciation for this asset for 2020 and 2021 using the double-declining-balance method. (Round answers to 0 decimal places, e.g.5,275.)Depreciation20202021LINK TO TEXTYour answer is partially correct. Try again.Calculate the depreciation for this asset for 2020 and 2021 using the straight-line method and assuming Blue Spruce prepares financial statements inaccordance with ASPE. (Do not round intermediate calculations and round answers to O decimal places, e.g. 5,275.)Depreciation2020202132800

Exercise 11-3 Blue Spruce Corporation purchased a new plant asset on April 1, 2020, at a cost of $984,000. It was estimated to have a useful life of 20 years and a residual value of $384,000, a physical life of 30 years, and a salvage value of $0. Blue Spruce's accounting period is the calendar year. Blue Spruce prepares financial statements in accordance with IFRS. O Your answer is partially correct. Try again. Calculate the depreciation for this asset for 2020 and 2021 using the straight-line method. (Round answers to 0 decimal places, e.g. 5,275.) Depreciation 2020 30000 2021 LINK TO ΤΕXΤ Your answer is incorrect. Try again. Calculate the depreciation for this asset for 2020 and 2021 using the double-declining-balance method. (Round answers to 0 decimal places, e.g. 5,275.) Depreciation 2020 2021 LINK Το EXT 2 Your answer is partially correct. Try again. Calculate the depreciation for this asset for 2020 and 2021 using the straight-line method and assuming Blue Spruce prepares financial statements in accordance with ASPE. (Do not round intermediate calculations and round answers to 0 decimal places, e.g. 5,275.) Depreciation 2020 2021 32800

Exercise 11-3 Blue Spruce Corporation purchased a new plant asset on April 1, 2020, at a cost of $984,000. It was estimated to have a useful life of 20 years and a residual value of $384,000, a physical life of 30 years, and a salvage value of $0. Blue Spruce's accounting period is the calendar year. Blue Spruce prepares financial statements in accordance with IFRS. O Your answer is partially correct. Try again. Calculate the depreciation for this asset for 2020 and 2021 using the straight-line method. (Round answers to 0 decimal places, e.g. 5,275.) Depreciation 2020 30000 2021 LINK TO ΤΕXΤ Your answer is incorrect. Try again. Calculate the depreciation for this asset for 2020 and 2021 using the double-declining-balance method. (Round answers to 0 decimal places, e.g. 5,275.) Depreciation 2020 2021 LINK Το EXT 2 Your answer is partially correct. Try again. Calculate the depreciation for this asset for 2020 and 2021 using the straight-line method and assuming Blue Spruce prepares financial statements in accordance with ASPE. (Do not round intermediate calculations and round answers to 0 decimal places, e.g. 5,275.) Depreciation 2020 2021 32800

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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Required information Skip to question [The following information applies to the questions displayed below.] Ramirez Company installs a computerized manufacturing machine in its factory at the beginning of the year at a cost of $49,100. The machine's useful life is estimated at 10 years, or 401,000 units of product, with a $9,000 salvage value. During its second year, the machine produces 34,100 units of product. Determine the machine’s second-year depreciation using the units-of-production method.
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