! Required information Problem 7-5B Determine depreciation under three methods (LO7-4) [The following information applies to the questions displayed below.) Cheetah Copy purchased a new copy machine. The new machine cost $126,000 including installation. The company estimates the equipment will have a residual value of $31,500. 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 1 3 Hours Used 2,000 2,000 2,000 3,200 Problem 7-58 Part 1

! Required information Problem 7-5B Determine depreciation under three methods (LO7-4) [The following information applies to the questions displayed below.) Cheetah Copy purchased a new copy machine. The new machine cost $126,000 including installation. The company estimates the equipment will have a residual value of $31,500. 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 1 3 Hours Used 2,000 2,000 2,000 3,200 Problem 7-58 Part 1

Name: HookntrencesawProblem 7-5B Part 1Required:1. Prepare a depreciation s
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Description: HookntrencesawProblem 7-5B Part 1Required:1. Prepare a depreciation schedule for four years using the straight-line method. (Do not round your intermediate calculations.)Year1234TotalCHEETAH COPYDepreciation Schedule-Straight-LineEnd of Year Amounts

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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