Required information [The following information applies to the questions displayed below.) One Stop Copy purchased a new copy machine. The new machine cost $120,000 including installation. The company estimates the equipment will have a residual value of $30,000. 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 Year 1 2 3 4 Total Hours Used 2,500 2,200 2. Prepare a depreciation schedule for four years using the double-declining-balance method. (Hint: The asset will be depreciated in only two years.) (Do not round your intermediate calculations.) 1,900 2,000 ONE STOP COPY Depreciation Schedule-Double-Declining-Balance $ End of Year Amounts Depreciation. Accumulated Expense 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 $120,000 including installation. The company estimates the equipment will have a residual value of $30,000. 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 Year 1 2 3 4 Total Hours Used 2,500 2,200 2. Prepare a depreciation schedule for four years using the double-declining-balance method. (Hint: The asset will be depreciated in only two years.) (Do not round your intermediate calculations.) 1,900 2,000 ONE STOP COPY Depreciation Schedule-Double-Declining-Balance $ End of Year Amounts Depreciation. Accumulated Expense Depreciation Book Value:
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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[The following information applies to the questions displayed below.)
One Stop Copy purchased a new copy machine. The new machine cost $120,000 including installation. The company
estimates the equipment will have a residual value of $30,000. 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
Year
1
2
3
4
Total
2. Prepare a depreciation schedule for four years using the double-declining-balance method. (Hint: The asset will be depreciated
in only two years.) (Do not round your intermediate calculations.)
Hours Used
2,500
2,200
1,900
2,000
ONE STOP COPY
Depreciation Schedule-Double-Declining-Balance
End of Year Amounts
Depreciation. Accumulated
Expense
Depreciation
$
Book Value:
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