Make a partial depreciation schedule for the third year using the units-of-production depreciation for a laser engraver that costs $43,000 and hasscrap value of $4,000. The engraver has an expected life of 200,000 hours and is expected to last 15 years.YearHoursAnnualAccumulatedused depreciation depreciation1 24,4992 20,0563 22,444Complete the table below. Round each answer to the nearest centAccumulateddepreciation$4,777 31$8,688.23YearHoursAnnualused depreciation24,499 $4.777.31$3,910.92End of yearbook value12 20,056322,444End-of-yearbook value$38.222.69$34,311.77Ame

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Description: Make a partial depreciation schedule for the third year using the units-of-production depreciation for a laser engraver that costs $43,000 and hasscrap value of $4,000. The engraver has an expected life of 200,000 hours and is expected to last 15 ye

Depreciation is the decrease in the value of assets as a result of use in business, passage of time,…

Business

Accounting

Make a partial depreciation schedule for the third year using the units of production depreciation for a laser engraver that costs $43,000 and ha scrap value of $4,000. The engraver has an expected life of 200,000 hours and is expected to last 15 years. Year Hours Annual Accumulated depreciation used depreciation 1 24,499 2 20,056 3 22,444 End of year book value Complete the table below. Round each answer to the nearest cent Accumulated depreciation $4,777.31 End of year book value $38.222.69 $34,311.77 S $8,688 23 Hours Annual Year used depreciation 1 24,499 $4,777.31 2 20,056 $3,910.92 3 22,444 &

Make a partial depreciation schedule for the third year using the units of production depreciation for a laser engraver that costs $43,000 and ha scrap value of $4,000. The engraver has an expected life of 200,000 hours and is expected to last 15 years. Year Hours Annual Accumulated depreciation used depreciation 1 24,499 2 20,056 3 22,444 End of year book value Complete the table below. Round each answer to the nearest cent Accumulated depreciation $4,777.31 End of year book value $38.222.69 $34,311.77 S $8,688 23 Hours Annual Year used depreciation 1 24,499 $4,777.31 2 20,056 $3,910.92 3 22,444 &

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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Concept explainers

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.

Topic Video

Question

Make a partial depreciation schedule for the third year using the units-of-production depreciation for a laser engraver that costs $43,000 and has
scrap value of $4,000. The engraver has an expected life of 200,000 hours and is expected to last 15 years.
Year
Hours
Annual
Accumulated
used depreciation depreciation
1 24,499
2 20,056
3 22,444
Complete the table below. Round each answer to the nearest cent
Accumulated
depreciation
$4,777 31
$8,688.23
Year
Hours
Annual
used depreciation
24,499 $4.777.31
$3,910.92
End of year
book value
1
2 20,056
322,444
End-of-year
book value
$38.222.69
$34,311.77
Ame

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