Units-of-activity depreciation A tractor acquired at a cost of $400,000 has an estimated residual value of $122,800, has an estimated useful life of 36,000 hours, and was operated 4,670 hours during the year. This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the questions below. Open spreadsheet Determine the following. Round your answer for depreciation rate to two decimal places. a. The depreciable cost b. The depreciation rate c. The units-of-activity depreciation for the year per hour

Units-of-activity depreciation A tractor acquired at a cost of $400,000 has an estimated residual value of $122,800, has an estimated useful life of 36,000 hours, and was operated 4,670 hours during the year. This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the questions below. Open spreadsheet Determine the following. Round your answer for depreciation rate to two decimal places. a. The depreciable cost b. The depreciation rate c. The units-of-activity depreciation for the year per hour

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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I need formulas for each of the yellow highlighted For example C7 is January 1 book value, so on and so on... Please and thank you
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Requlred Information Use the following information for the Exercises below. [The following information applies to the questions displayed below.] Ramirez Company installs a computerized manufacturing machine in its factory at the beginning of the year at a cost of $85,400. The machine's useful life is estimated at 20 years, or 402,000 units of product, with a $5.000 salvage value. During its second year, the machine produces 34,200 units of product. Exerclse 8-4 Stralght-Illne depreclation LO P1 Determine the machine's second-year depreciation and year end book value under the straight-line method. Straight-Line Depreciation Annual Depreciation Expense Choose Numerator: Choose Denominator: Depreciation expense Year 2 Depreciation Year end book value (Year 2)
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Please no written by hand solutions Solve in a spreadsheet with excel functions A purchased machine cost $320,000, with delivery and installation charges amounting to $30,000. The declared salvage value was $50,000. Its useful life is 10 years. a) Compute the SL depreciation schedule over its useful life. b) Compute the DDB depreciation schedule over its useful life. c) Compute the MACRS depreciation schedule. Its ADR life is 12 years. d) Early in Year 4, the company changed its product mix and found that it no longer needed the machine. One of its competitors agreed to buy the machine for $110,000. Determine the loss, gain, or recapture on the sale. Use the MACRS schedule.
Before you begin this assignment, review the Tying It All Together feature in the chapter iHeartMedia , Inc. in their annual report for the year ending December 31, 2015, state that the plant assets reported on its balance sheet includes the following: Depreciation is computed using the straight-line method. Requirements 1. Suppose iHeartMedia, Inc. purchases a new advertising structure for $100,000 on August 1. The residual value of the structure is $4,000 and the useful life is 10 years. How would iHeartMedia record the depreciation expense on December 31 in the first year of use? What about the second year of use? 2. What would be the book value of the structure at the end of the first year? What would be the book value of the structure at the end of the second year? 3. What would be the impact on iHeartMedia, Inc. financial statements if they failed to record the adjusting entry related to the structure?
Engineering Economy, Chapter 16: Depreciation Methods The manager of a Glidden Paint manufacturing plant is planning to use SL, DDB or MACRS to compare the total depreciation of the first 3 years for a recently purchased mixer that has a first cost of 300,000 QAR, a 5-year recovery period, and a 60,000 QAR salvage value. Find total depreciation of the first three years and the book value at year 3 using SL, DDB and MACRS.
Required information Skip to question [The following information applies to the questions displayed below.] Ramirez Company installs a computerized manufacturing machine in its factory at the beginning of the year at a cost of $49,100. The machine's useful life is estimated at 10 years, or 401,000 units of product, with a $9,000 salvage value. During its second year, the machine produces 34,100 units of product. Determine the machine’s second-year depreciation and year end book value under the straight-line method.
Find the depreciation for the third year using MACRS cost-recovery rates for the property placed in service at midyear. The property is a 3-year property and was purchased for $98,452. Click the icon to view a table of MACRS rates. X The depreciation is $. (Round to the nearest cent as needed.) MACRS Table Year 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 3-Year 33.33% 44.45 14.81 7.41 Depreciation rate for recovery perioa 5-Year 7-Year 10-Year 15-Year 20.00% 10.00% 5.00% 14.29% 32.00 19.20 11.52 11.52 5.76 24.49 17.49 12.49 8.93 8.92 8.93 4.46 18.00 14.40 11.52 9.22 7.37 6.55 6.55 6.56 6.55 3.28 9.50 8.55 7.70 6.93 6.23 5.90 5.90 5.91 5.90 5.91 5.90 5.91 5.90 5.91 2.95 20-Year 3.750% 7.219 6.677 6.177 5.713 5.285 4.888 4.522 4.462 4.461 4.462 4.461 4.462 4.461 4.462 4.461 4.462 4.461 4.462 4.461
Kindly write the attached text in handwriting with writing (Hala Haj Hamad) at the top of the page. Thank you
Required information Skip to question [The following information applies to the questions displayed below.] Ramirez Company installs a computerized manufacturing machine in its factory at the beginning of the year at a cost of $49,100. The machine's useful life is estimated at 10 years, or 401,000 units of product, with a $9,000 salvage value. During its second year, the machine produces 34,100 units of product. Determine the machine’s second-year depreciation using the units-of-production method.
complete the double declining method of depreciation for the open blanks based on the given values