Required information [The following information applies to the questions displayed below.] One Stop 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. One Stop 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 2 3 4 Year 1 2 3 4 Total Hours Used 2,000 2,000 Required: 1. Prepare a depreciation schedule for four years using the straight-line method. (Do not round your intermediate calculations.) 2,000 3,200 ONE STOP COPY Depreciation Schedule-Straight-Line End of Year Amoun Depreciation Expense $ 0 Accumulated Depreciation Book Value
Required information [The following information applies to the questions displayed below.] One Stop 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. One Stop 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 2 3 4 Year 1 2 3 4 Total Hours Used 2,000 2,000 Required: 1. Prepare a depreciation schedule for four years using the straight-line method. (Do not round your intermediate calculations.) 2,000 3,200 ONE STOP COPY Depreciation Schedule-Straight-Line End of Year Amoun Depreciation Expense $ 0 Accumulated Depreciation Book Value
Chapter11: Long-term Assets
Section: Chapter Questions
Problem 8PB: Montello Inc. purchases a delivery truck for $25,000. The truck has a salvage value of $6,000 and is...
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