1, Copeland Drugstore purchased a new computer system for $280,000. It is expected to have a five-year life and a $ 40,000 salvage value. Exercise 8-9A (Algo) Part c c. Prepare the journal entries to recognize depreciation for each of the five years, assuming that the company uses: (2) Double-declining - balance depreciation.

Comparing Three Depreciation Methods Waylander Coatings Company purchased waterproofing equipment on January 6 for $248,600. The equipment was expected to have a useful life of four years, or 7,600 operating hours, and a residual value of $20,600. The equipment was used for 2,900 hours during Year 1, 2,400 hours in Year 2, 1,400 hours in Year 3, and 900 hours in Year 4. Required: 1.  Determine the amount of depreciation expense for the years ended December 31, Year 1, Year 2, Year 3, and Year 4, by (a) the straight-line method, (b) the units-of-output method, and (c) the double-declining-balance method. Also determine the total depreciation expense for the four years by each method.Note: FOR DECLINING BALANCE ONLY, round the multiplier to four decimal places. Then round the answer for each year to the nearest whole dollar. Depreciation Expense Year Straight-Line Method Units-of-Output Method Double-Declining-Balance Method Year 1 $fill in the blank 1 $fill in the blank 2 $fill…

A Kubota tractor acquired on January 8 at a cost of $54,000 has an estimated useful life of 10 years. Assuming that it will have no residual value. a. Determine the depreciation for each of the first two years by the straight-line method. First Year Second Year $ b. Determine the depreciation for each of the first two years by the double-declining-balance method. Do not round the double-declining balance rate. If required, round your final answers to the nearest dollar. First Year Second Year

K Depreciation Norton Systems acquired two new assets. Asset A was research equipment costing $19,000 and having a 3-year recovery period. Asset B was duplicating equipment having an installed cost of $56,000 and a 5-year recovery period. Using the MACRS depreciation percentages, prepare a depreciation schedule for each of these assets. Complete the depreciation schedule for asset A below: Recovery Year 1 ... Depreciation (Round to the nearest dollar.) edit: 0 Qu Qu

25

Machinery was purchased on January 1 for $89,670.00. The machinery has an estimated life of seven years and an estimated salvage value of $9,000. Double-declining-balance depreciation for the second year would be (round calculations to the nearest dollar): a.$17,300 b.$19,300 c.$18,300 d.$17,800

Noah Corp., a calendar year-end company, purchased equipment on 1/1/X1 with the following attributes: Cost $ 25,000 Salvage Value $ 2,000 Useful life 4 years Assuming that Duncan uses the double-declining balance (DDB) depreciation method, answer the following question:Question: How much depreciation expense should be recorded in 20X4 (year four of the asset's life)? Answer- $ ___

A plant asset acquired on January 4, 200B, at a cost of $300,000 has an estimated useful life of 10 years. The salvage value is estimated fthe asset's useful life. to be $25,000 at the end of- Instructions Determine the depreciation expense for each of the first two years using: (a) the straight-line method. (b) the double-declining-balance method. Please show your work either in the answer space provided OR upload a file. A - U X2 x2 a. Straight-Line F4 PrtScn Home 21 F5 F6 F7 F8 F9 ill

Comparing Three Depreciation Methods Waylander Coatings Company purchased waterproofing equipment on January 6 for $730,400. The equipment was expected to have a useful life of four years, or 10,000 operating hours, and a residual value of $60,400. The equipment was used for 3,800 hours during Year 1, 3,100 hours in Year 2, 1,800 hours in Year 3, and 1,300 hours in Year 4. Required: 1.  Determine the amount of depreciation expense for the years ended December 31, Year 1, Year 2, Year 3, and Year 4, by (a) the straight-line method, (b) the units-of-output method, and (c) the double-declining-balance method. Also determine the total depreciation expense for the four years by each method.Note: FOR DECLINING BALANCE ONLY, round the multiplier to four decimal places. Then round the answer for each year to the nearest whole dollar. Depreciation Expense Year Straight-Line Method Units-of-Output Method Double-Declining-Balance Method Year 1 $fill in the blank 1 $fill in the blank 2…

Pharoah Company purchases equipment on January 1, Year 1, at a cost of $267,000. The asset is expected to have a service life of 5 years and a salvage value of $20,000. (a) Compute the amount of depreciation for each of Years 1 and 2 using the straight-line depreciation method. Depreciation for Year 1 Depreciation for Year 2 %24 %24