Required information [The following information applies to the questions displayed below.] Cheetah Copy purchased a new copy machine. The new machine cost $122,000 including installation. The company estimates the equipment will have a residual value of $30,500. Cheetah Copy also estimates it will use the machine for four years or about 8,000 total hours. Actual use per year was as follows: Year Hours Used 1 2,000 2,000 2,000 3, 200 2 3 4 2. Prepare a depreciation schedule for four years using the double-declining-balance method. (Hint: The asset will be depreciated in only two years.) (Do not round your intermediate calculations.) CHEETAH COPY Depreciation Schedule-Double-Declining-Balance End of Year Amounts Depreciation Éxpense Accumulated Year Book Value Depreciation 1 2 3 4. Total
Required information [The following information applies to the questions displayed below.] Cheetah Copy purchased a new copy machine. The new machine cost $122,000 including installation. The company estimates the equipment will have a residual value of $30,500. Cheetah Copy also estimates it will use the machine for four years or about 8,000 total hours. Actual use per year was as follows: Year Hours Used 1 2,000 2,000 2,000 3, 200 2 3 4 2. Prepare a depreciation schedule for four years using the double-declining-balance method. (Hint: The asset will be depreciated in only two years.) (Do not round your intermediate calculations.) CHEETAH COPY Depreciation Schedule-Double-Declining-Balance End of Year Amounts Depreciation Éxpense Accumulated Year Book Value Depreciation 1 2 3 4. Total
Chapter9: Capital Budgeting And Cash Flow Analysis
Section: Chapter Questions
Problem 21P
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