Nazmul Enterprise has 3 machines. The company follows different depreciation methods for each of the machine. Information regarding the 3machines is given below:Machine Model .. . .. .. N190XW93Depreciation Method ... Straight Line... ... ..N205MDU77... ... .. .. . N370TXP80Units of ActivityJuly 1,2020... 140000... ... ... ... .. ... ... 180000Declining balance methodPurchase dateJanuary 1,2020 ... ... ... .... ... .. .. ... .. October 1.2020Cost ($)Salvage Value ($)Useful Life (Years)... ... 250000600002000040000.5. . . O . .. .N205MDU77 is expected to be used for 25000 hours. Actual hours used in the year 2020 and 2021 were 5600 hours and 10700 hours respectively.Complete the depreciation schedules of each of the machines for 2020 and 2021.

The formula of Depreciation Under Straight Line Method = (Cost of the machine - Salvage Value) /…

Answered: Nazmul Enterprise has 3 machines. The…

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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The unit depreciation for a machine is $ 0.00035 and the machine is produced in 6,000,000 units. Find the total depreciation.
m/ilrn/takeAssignment/takeAssignmentMain.do?invoker-assignments&takeAssignmentSession Locator-assign... eBook Show Me How A ✩ Comparing three depreciation methods Dexter Industries purchased packaging equipment on January 8 for $112,500. The equipment was expected to have a useful life of 3 years, or 22,500 operating hours, and a residual value of $4,500. The equipment was used for 9,000 hours during Year 1, 6,750 hours in Year 2, and 6,750 hours in Year 3. Required: 1. Determine the amount of depreciation expense for the 3 years ending December 31, by (a) the straight-line method, (b) the units-of-activity method, and (c) the double-declining-balance method. Also determine the total depreciation expense for the 3 years by each method. Do not round intermediate calculations when determining the depreciation rate. Round the final answers for each year to the nearest whole dollar. Year Year 1 Year 2 Year 3 Total Straight-Line Method Depreciation Expense Units-of-Activity Method 2. What…
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