Homework Help is Here – Start Your Trial Now!
Business
Accounting
Wildhorse Ltd. purchased a new machine on April 4, 2017, at a cost of $156,000. The company estimated that the machine would have a residual value of $14,000. The machine is expected to be used for 10,000 working hours during its four-year life. Actual machine usage was 1,600 hours in 2017; 2,200 hours in 2018; 2,500 hours in 2019; 1,900 hours in 2020; and 1,800 hours in 2021. Wildhorse has a December 31 year end. (a) Calculate depreciation for the machine under each of the following methods: (Round expense per unit to 2 decimal places, e.g. 2.75 and final answers to O decimal places, e.g. 5,275.) (1) Straight-line for 2017 through to 2021. 2017 expense 2018 expense 2019 expense 2020 expense tA $ EA $ EA tA $

Wildhorse Ltd. purchased a new machine on April 4, 2017, at a cost of $156,000. The company estimated that the machine would have a residual value of $14,000. The machine is expected to be used for 10,000 working hours during its four-year life. Actual machine usage was 1,600 hours in 2017; 2,200 hours in 2018; 2,500 hours in 2019; 1,900 hours in 2020; and 1,800 hours in 2021. Wildhorse has a December 31 year end. (a) Calculate depreciation for the machine under each of the following methods: (Round expense per unit to 2 decimal places, e.g. 2.75 and final answers to O decimal places, e.g. 5,275.) (1) Straight-line for 2017 through to 2021. 2017 expense 2018 expense 2019 expense 2020 expense tA $ EA $ EA tA $

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

Please do not give solution in image format thanku 

Wildhorse Ltd. purchased a new machine on April 4, 2017, at a cost of $156,000. The company estimated that the machine would have a residual value of $14,000. The machine is expected to be used for 10,000 working hours during its four-year life. Actual machine usage was 1,600 hours in 2017; 2,200 hours in 2018; 2,500 hours in 2019; 1,900 hours in 2020; and 1,800 hours in 2021. Wildhorse has a December 31 year end. (a) Calculate depreciation for the machine under each of the following methods: (Round expense per unit to 2 decimal places, e.g. 2.75 and final answers to O decimal places, e.g. 5,275.) (1) Straight-line for 2017 through to 2021. 2017 expense 2018 expense 2019 expense 2020 expense 2021 expense $ $ $ $ ta ta $ LA
Transcribed Image Text:Wildhorse Ltd. purchased a new machine on April 4, 2017, at a cost of $156,000. The company estimated that the machine would have a residual value of $14,000. The machine is expected to be used for 10,000 working hours during its four-year life. Actual machine usage was 1,600 hours in 2017; 2,200 hours in 2018; 2,500 hours in 2019; 1,900 hours in 2020; and 1,800 hours in 2021. Wildhorse has a December 31 year end. (a) Calculate depreciation for the machine under each of the following methods: (Round expense per unit to 2 decimal places, e.g. 2.75 and final answers to O decimal places, e.g. 5,275.) (1) Straight-line for 2017 through to 2021. 2017 expense 2018 expense 2019 expense 2020 expense 2021 expense $ $ $ $ ta ta $ LA
(2) Diminishing-balance using double the straight-line rate for 2017 through to 2021. 2017 expense 2018 expense $ tA $ 2017 expense 2018 expense 2019 expense 2020 expense 2019 expense $ 2020 expense 2021 expense 2021 expense CA CA $ CA $ (3) Units-of-production for 2017 through to 2021. CA $ $ CA $ CA $ CA $ GA
Transcribed Image Text:(2) Diminishing-balance using double the straight-line rate for 2017 through to 2021. 2017 expense 2018 expense $ tA $ 2017 expense 2018 expense 2019 expense 2020 expense 2019 expense $ 2020 expense 2021 expense 2021 expense CA CA $ CA $ (3) Units-of-production for 2017 through to 2021. CA $ $ CA $ CA $ CA $ GA
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 5 steps

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Knowledge Booster
Depreciation Accounting
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
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
SEE MORE TEXTBOOKS