Robinson Industries purchased a copier system with a cost of $57,000 and a salvage value estimated at $5,000.  It was expected that the copier would last four years, over which time it would produce 6,500,000 copies.  The copier actually produced 1,500,000 copies in year 1, 1,900,000 copies in year 2, 1,800,000 copies in Year 3, and 1,400,000 copies in Year 4.    Calculate the depreciation expense, accumulated depreciation and carrying value of the asset at year-end for each of the four years using the following methods (a) straight-line method; (b) units-of-production method; (c) double-declining balance method.     Straight-line Year 1 Year 2 Year 3 Year 4 Depreciation expense         Accumulated Depreciation         Carrying value

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
icon
Related questions
Question

Robinson Industries purchased a copier system with a cost of $57,000 and a salvage value estimated at $5,000.  It was expected that the copier would last four years, over which time it would produce 6,500,000 copies.  The copier actually produced 1,500,000 copies in year 1, 1,900,000 copies in year 2, 1,800,000 copies in Year 3, and 1,400,000 copies in Year 4. 

 

Calculate the depreciation expense, accumulated depreciation and carrying value of the asset at year-end for each of the four years using the following methods (a) straight-line method; (b) units-of-production method; (c) double-declining balance method.

 

 

Straight-line

Year 1

Year 2

Year 3

Year 4

Depreciation expense

 

 

 

 

Accumulated

Depreciation

 

 

 

 

Carrying

value

 

 

 

 

 

Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps

Blurred answer
Knowledge Booster
Section 179 Deduction and Modified Accelerated Cost Recovery System (MACRS) Depreciation
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education