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heetah Copy purchased a new copy machine. The new machine cost $120,000 including installation. The company estimates the equipment will have a residual value of $30,000. Cheetah Copy also estimates it will use the machine for four years or about 8,000 total hours. Actual use per year was as follows: Year Hours Used 1 2,500 2 2,200 3 1,900 4 2,000   Required: 1. Prepare a depreciation schedule for four years using the straight-line method. (Do not round your intermediate calculations.)     CHEETAH COPY Depreciation Schedule—Straight-Line End of Year Amounts Year Depreciation Expense Accumulated Depreciation Book Value 1 $22,500 $22,500   2 22,500     3 22,500     4 22,500     Total $90,000

heetah Copy purchased a new copy machine. The new machine cost $120,000 including installation. The company estimates the equipment will have a residual value of $30,000. Cheetah Copy also estimates it will use the machine for four years or about 8,000 total hours. Actual use per year was as follows: Year Hours Used 1 2,500 2 2,200 3 1,900 4 2,000   Required: 1. Prepare a depreciation schedule for four years using the straight-line method. (Do not round your intermediate calculations.)     CHEETAH COPY Depreciation Schedule—Straight-Line End of Year Amounts Year Depreciation Expense Accumulated Depreciation Book Value 1 $22,500 $22,500   2 22,500     3 22,500     4 22,500     Total $90,000

Essentials Of Investments
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
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Cheetah Copy purchased a new copy machine. The new machine cost $120,000 including installation. The company estimates the equipment will have a residual value of $30,000. Cheetah Copy also estimates it will use the machine for four years or about 8,000 total hours. Actual use per year was as follows:

Year Hours Used
1 2,500
2 2,200
3 1,900
4 2,000

 

Required:

1. Prepare a depreciation schedule for four years using the straight-line method. (Do not round your intermediate calculations.)

 
 
CHEETAH COPY
Depreciation Schedule—Straight-Line
End of Year Amounts
Year Depreciation Expense Accumulated Depreciation Book Value
1 $22,500 $22,500  
2 22,500    
3 22,500    
4 22,500    
Total $90,000  
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