Chapter 11, Problem 11.3BE

E. Assume that at the beginning of the 2023 financial year, half of the reported cost of the PPE and half of the accumulated depreciation pertained to equipment acquired 1 year ago. Equipment is depreciated using the lower limit of the useful life range applicable to that class of PPE. Calculate the depreciation expense, accumulated depreciation and net book value for equipment for the financial year ended 2023. Answers to nearest whole number F. Assume that at the beginning of the 2023 financial year, 75% of the reported cost of the PPE and 40% of the accumulated depreciation pertained to equipment acquired 1 year ago. Equipment is depreciated using the double declining balance method based on the lower limit of the useful life range applicable to that class of PPE. Calculate the depreciation expense, accumulated depreciation and net book value for equipment for the financial year ended 2023. Answers to 2 decimal places

Obj. 2 PR 9-2A Comparing three depreciation methods Dexter Industries purchased packaging equipment on January 8 for $72,000. The equipment was expected to have a useful life of three years, or 18,000 operating hours, and a residual value of $4,500. The equipment was used for 7,600 hours during Year 1, 6,000 hours in Year 2, and 4,400 hours in Year 3. Instructions 1. Determine the amount of depreciation expense for the three years ending December 31, by (a) the straight-line method, (b) the units-of-activity method, and (c) the double-declining- balance method. Also determine the total depreciation expense for the three years by each (Continued)

Swifty Industries presents you with the following information.Complete the table for the year ended December 31, 2022. The company depreciates all assets using the half-year convention. (Round answers to 0 decimal places, e.g. 45,892.) Description     DatePurchased     Cost   SalvageValue   Lifein Years     DepreciationMethod     AccumulatedDepreciation to12/31/21     Depreciationfor 2022   Machine A     2/12/20     $146,800   $17,000   10      SYD                                                               $34,220     $20060   Machine B     8/15/19     81370   21,630   5     SL     29,870     11948   Machine C     7/21/18     67,200   23,500   8     DDB   (A)     (B)     Machine D      (C)                                                   225,570   71,070   5     SYD     72,100   (D)