sume Plain Ice Cream Company, Incorporated, in Ithaca, NY, bought a new ice cream production kit (pasteurizer/homogenizer, oler, aging vat, freezer, and filling machine) at the beginning of the year at a cost of $22,000. The estimated useful life was four ars, and the residual value was $2,000. Assume that the estimated productive life of the machine was 10,000 hours. Actual annual age was 4,000 hours in Year 1; 3,000 hours in Year 2; 2,000 hours in Year 3; and 1,000 hours in Year 4. quired: Complete a separate depreciation schedule for each of the alternative methods. Straight-line. Units-of-production. Double-declining-balance. Complete this question by entering your answers in the tabs below. Req 1A Req 1B Year At acquisition 1 2 3 4 Req 1C Complete a depreciation schedule using the double-declining-balance method. Depreciation Accumulated Expense Depreciation Net Book Value < Req 1B Req 1C >
sume Plain Ice Cream Company, Incorporated, in Ithaca, NY, bought a new ice cream production kit (pasteurizer/homogenizer, oler, aging vat, freezer, and filling machine) at the beginning of the year at a cost of $22,000. The estimated useful life was four ars, and the residual value was $2,000. Assume that the estimated productive life of the machine was 10,000 hours. Actual annual age was 4,000 hours in Year 1; 3,000 hours in Year 2; 2,000 hours in Year 3; and 1,000 hours in Year 4. quired: Complete a separate depreciation schedule for each of the alternative methods. Straight-line. Units-of-production. Double-declining-balance. Complete this question by entering your answers in the tabs below. Req 1A Req 1B Year At acquisition 1 2 3 4 Req 1C Complete a depreciation schedule using the double-declining-balance method. Depreciation Accumulated Expense Depreciation Net Book Value < Req 1B Req 1C >
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Subject - acounting
Transcribed Image Text:Assume Plain Ice Cream Company, Incorporated, in Ithaca, NY, bought a new ice cream production kit (pasteurizer/homogenizer,
cooler, aging vat, freezer, and filling machine) at the beginning of the year at a cost of $22,000. The estimated useful life was four
years, and the residual value was $2,000. Assume that the estimated productive life of the machine was 10,000 hours. Actual annual
usage was 4,000 hours in Year 1; 3,000 hours in Year 2; 2,000 hours in Year 3; and 1,000 hours in Year 4.
Required:
1. Complete a separate depreciation schedule for each of the alternative methods.
a. Straight-line.
b. Units-of-production.
c. Double-declining-balance.
Complete this question by entering your answers in the tabs below.
Req 1A
Req 1B
Year
At acquisition
1
2
3
4
Req 1C
Complete a depreciation schedule using the double-declining-balance method.
Depreciation Accumulated
Expense Depreciation
Net
Book Value
< Req 1B
Req 1C >
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