-Use the following information to calculate depreciation under the 3 separate methods. y also estimates it will use the machine for four years or about 8,000 total hours. tallation. The company estimates the equipment will have a residual value of $35,000. Cheetah uny Durchased a new copy machine. The new machine cost $140,000 including etah Copy . Calculate the annual depreciation expense using straight-line depreciation. 2. Prepare the depreciation schedule using double declining depreciation. Year Beginning book value Depreciation Depreciation Accumulated Ending book rate expense depreciation 1 value 3. Prepare the depreciation schedule using activity-based depreciation. Depreciation Depreciation Accumulated depreciation Ending book value Year Hours used rate expense 1. 3,000 2,000 3. 2,000 4 2,000
-Use the following information to calculate depreciation under the 3 separate methods. y also estimates it will use the machine for four years or about 8,000 total hours. tallation. The company estimates the equipment will have a residual value of $35,000. Cheetah uny Durchased a new copy machine. The new machine cost $140,000 including etah Copy . Calculate the annual depreciation expense using straight-line depreciation. 2. Prepare the depreciation schedule using double declining depreciation. Year Beginning book value Depreciation Depreciation Accumulated Ending book rate expense depreciation 1 value 3. Prepare the depreciation schedule using activity-based depreciation. Depreciation Depreciation Accumulated depreciation Ending book value Year Hours used rate expense 1. 3,000 2,000 3. 2,000 4 2,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
complete the following problem and explain how you got the numbers please. I am very confused on how solve these
![6-Use the following information to calculate depreciation under the 3 separate methods.
tah Copy purchased a new copy machine. The new machine cost $140,000 including
Copy also estimates it will use the machine for four years or about 8,000 total hours.
ahCThe company estimates the equipment will have a residual value of $35,000. Cheetah
* Colsulate the annual depreciation expense using straight-line depreciation.
2. Prepare the depreciation schedule using double declining depreciation.
Year
Beginning
book value
Depreciation Depreciation Accumulated Ending book
rate
1
expense
depreciation
value
2
3
4
3. Prepare the depreciation schedule using activity-based depreciation.
Depreciation Depreciation Accumulated
depreciation
Ending
book value
Year
Hours used
rate
expense
1
3,000
2,000
2,000
4
2,000
Made by Dr. Baaske - Do not share.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F6abc4fc2-463a-447a-9e94-ac702a0ec0bc%2Fc28ddc12-59c7-47dc-80fd-2e43a485562d%2Fndtslh_processed.jpeg&w=3840&q=75)
Transcribed Image Text:6-Use the following information to calculate depreciation under the 3 separate methods.
tah Copy purchased a new copy machine. The new machine cost $140,000 including
Copy also estimates it will use the machine for four years or about 8,000 total hours.
ahCThe company estimates the equipment will have a residual value of $35,000. Cheetah
* Colsulate the annual depreciation expense using straight-line depreciation.
2. Prepare the depreciation schedule using double declining depreciation.
Year
Beginning
book value
Depreciation Depreciation Accumulated Ending book
rate
1
expense
depreciation
value
2
3
4
3. Prepare the depreciation schedule using activity-based depreciation.
Depreciation Depreciation Accumulated
depreciation
Ending
book value
Year
Hours used
rate
expense
1
3,000
2,000
2,000
4
2,000
Made by Dr. Baaske - Do not share.
Expert Solution
![](/static/compass_v2/shared-icons/check-mark.png)
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 2 steps
![Blurred answer](/static/compass_v2/solution-images/blurred-answer.jpg)
Knowledge Booster
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.Recommended textbooks for you
![FINANCIAL ACCOUNTING](https://compass-isbn-assets.s3.amazonaws.com/isbn_cover_images/9781259964947/9781259964947_smallCoverImage.jpg)
![Accounting](https://www.bartleby.com/isbn_cover_images/9781337272094/9781337272094_smallCoverImage.gif)
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
![Accounting Information Systems](https://www.bartleby.com/isbn_cover_images/9781337619202/9781337619202_smallCoverImage.gif)
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
![FINANCIAL ACCOUNTING](https://compass-isbn-assets.s3.amazonaws.com/isbn_cover_images/9781259964947/9781259964947_smallCoverImage.jpg)
![Accounting](https://www.bartleby.com/isbn_cover_images/9781337272094/9781337272094_smallCoverImage.gif)
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
![Accounting Information Systems](https://www.bartleby.com/isbn_cover_images/9781337619202/9781337619202_smallCoverImage.gif)
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
![Horngren's Cost Accounting: A Managerial Emphasis…](https://www.bartleby.com/isbn_cover_images/9780134475585/9780134475585_smallCoverImage.gif)
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
![Intermediate Accounting](https://www.bartleby.com/isbn_cover_images/9781259722660/9781259722660_smallCoverImage.gif)
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
![Financial and Managerial Accounting](https://www.bartleby.com/isbn_cover_images/9781259726705/9781259726705_smallCoverImage.gif)
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education