please do not provide solution in image format thank you! In recent years, Splish Brothers Company has purchased three machines. Because of frequent employee turnover in the accountingdepartment, a different accountant was in charge of selecting the depreciation method for each machine, and various methods havebeen used. Information concerning the machines is summarized in the table below.Machine:123AcquiredJan. 1, 2020July 1, 2021Nov. 1, 2021(a1)Cost$99,10091,500101,500Your answer is correct.SalvageValue$12,500Depreciable cost $11.0007,500Useful Life(in years)82.05For the declining-balance method, Splish Brothers Company uses the double-declining rate. For the units-of-activity method, totalmachine hours are expected to be 47,000. Actual hours of use in the first 3 years were 2021, 900, 2022, 4,000; and 2023, 8.200.6DepreciationMethodFor Bus #3, calculate depreciable cost per mile under units-of-activity method.per mileStraight-lineDeclining-balanceUnits-of-activity Compute the amount of accumulated depreciation on each machine at December 31, 2023.Accumulated depreciationMACHINE 1$MACHINE 2 $MACHINE 3$

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Description: please do not provide solution in image format thank you! In recent years, Splish Brothers Company has purchased three machines. Because of frequent employee turnover in the accountingdepartment, a different accountant was in charge of selecting the

Depreciation :— It is the allocation of depreciable cost over the useful life of asset.…

Business

Accounting

In recent years, Splish Brothers Company has purchased three machines. Because of frequent employee turnover in the accounting department, a different accountant was in charge of selecting the depreciation method for each machine, and various methods have been used. Information concerning the machines is summarized in the table below. Machine: 1 2 3 Acquired Jan. 1, 2020 July 1, 2021 Nov. 1, 2021 (a1) Cost $ 99,100 91,500 101,500 Your answer is correct. Salvage Value $12.500 Depreciable cost $ 11,000 7,500 Useful Life (in years) 8 5 For the declining-balance method, Splish Brothers Company uses the double-declining rate. For the units-of-activity method, total machine hours are expected to be 47,000. Actual hours of use in the first 3 years were 2021, 900, 2022, 4,000; and 2023, 8.200. 6 Depreciation Method per mile Straight-line Declining-balance Units-of-activity For Bus #3, calculate depreciable cost per mile under units-of-activity method.

In recent years, Splish Brothers Company has purchased three machines. Because of frequent employee turnover in the accounting department, a different accountant was in charge of selecting the depreciation method for each machine, and various methods have been used. Information concerning the machines is summarized in the table below. Machine: 1 2 3 Acquired Jan. 1, 2020 July 1, 2021 Nov. 1, 2021 (a1) Cost $ 99,100 91,500 101,500 Your answer is correct. Salvage Value $12.500 Depreciable cost $ 11,000 7,500 Useful Life (in years) 8 5 For the declining-balance method, Splish Brothers Company uses the double-declining rate. For the units-of-activity method, total machine hours are expected to be 47,000. Actual hours of use in the first 3 years were 2021, 900, 2022, 4,000; and 2023, 8.200. 6 Depreciation Method per mile Straight-line Declining-balance Units-of-activity For Bus #3, calculate depreciable cost per mile under units-of-activity method.

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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