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18 19 20 13 14 15 16 17 21 22 23 24 25 26 27 E11 File Paste Home Insert Page Layout X A UP Calibri BIU- Cost Residual Value Useful Life (Years) Useful Life (Hours) Gain End of Year 1 4 V Straight Line Year 1 2 3 FF - Clipboard 5 SECURITY WARNING Automatic update of links has been disabled vix ✓ fx Font ✓11 Formulas Data Review View Automate Help -A A $ $ v A- 620,000.00 60,000.00 MEE 二三四五 E 4 years 12,000 hours Depreciable Cost $ 620,000.00 Alignment Rate 22 an V Be Enable Content 1/4 1/4 1/4 1/4 B C D E F G H **For calculations in each of the four tables below refer only to the values calculated in the same table or provided in the DATA table. DATA S General $ % 9 898 Number 15 Depreciation Expense Conditional Formatting Format as Table Cell Styles Styles Accumulated Depreciation Insert V Delete Format Cells Book Value Σε ερω - 0. Editing 1 Comments Add-ins Sensitivity Sensitivity Add-ins F2 + An

18 19 20 13 14 15 16 17 21 22 23 24 25 26 27 E11 File Paste Home Insert Page Layout X A UP Calibri BIU- Cost Residual Value Useful Life (Years) Useful Life (Hours) Gain End of Year 1 4 V Straight Line Year 1 2 3 FF - Clipboard 5 SECURITY WARNING Automatic update of links has been disabled vix ✓ fx Font ✓11 Formulas Data Review View Automate Help -A A $ $ v A- 620,000.00 60,000.00 MEE 二三四五 E 4 years 12,000 hours Depreciable Cost $ 620,000.00 Alignment Rate 22 an V Be Enable Content 1/4 1/4 1/4 1/4 B C D E F G H **For calculations in each of the four tables below refer only to the values calculated in the same table or provided in the DATA table. DATA S General $ % 9 898 Number 15 Depreciation Expense Conditional Formatting Format as Table Cell Styles Styles Accumulated Depreciation Insert V Delete Format Cells Book Value Σε ερω - 0. Editing 1 Comments Add-ins Sensitivity Sensitivity Add-ins F2 + An

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Prepare depreciation schedules for straight-line, double-declining-balance, and units-of-production methods. Use the imformation below and the images attached:

+when doing units-of-production methods use the image attached with the listed machine hours

The Fraser River Corporation has purchased a new piece of factory equipment on January 1, 2024. The equipment costs $620,000 and has an estimated useful life of four years, or 12,000 machine hours. At the end of four years, the equipment is estimated to have a residual value of $60,000.

also when competing each of the depreciation schedules for each of the methods, what is the minimum amount that Fraser River will sell the factory equipment for in order to have a gain of $16,000?

23 24 25 26 27 16 17 18 19 20 21 22 E11 13 14 15 File AutoSave On Paste DEG Clipboard A Home Insert Page Layout Formulas Data Review View Automate Help V Α Α΄ M JESENTE ENT A Editing Calibri B I U Cost Residual Value Useful Life (Years) Useful Life (Hours) Gain End of Year 1 Straight Line Year 1 2 3 4 Font ✓11 $ $ V sara... Upload Pen... strangers 620,000.00 60,000.00 4 years 12,000 hours . Depreciable Cost $ 620,000.00 Search Rate 1/4 1/4 1/4 1/4 The Strangers heyat Night (20 Perfect Strangers (2018) Alignment SECURITY WARNING Automatic update of links has been disabled Enable Content X ✓ fx B C D E F G H **For calculations in each of the four tables below refer only to the values calculated in the same table or provided in the DATA table. DATA General $ % 9 .00 .00 ➜.0 Depreciation Expense Number Conditional Formatting ✓ Format as Table ✓ Cell Styles Accumulated Depreciation Styles Insert Book Value Delete Format v Cells Sarah Hughes SH Sensitivity Sensitivity Comments Add-ins Analyze Data Add-ins J X Share
Transcribed Image Text:23 24 25 26 27 16 17 18 19 20 21 22 E11 13 14 15 File AutoSave On Paste DEG Clipboard A Home Insert Page Layout Formulas Data Review View Automate Help V Α Α΄ M JESENTE ENT A Editing Calibri B I U Cost Residual Value Useful Life (Years) Useful Life (Hours) Gain End of Year 1 Straight Line Year 1 2 3 4 Font ✓11 $ $ V sara... Upload Pen... strangers 620,000.00 60,000.00 4 years 12,000 hours . Depreciable Cost $ 620,000.00 Search Rate 1/4 1/4 1/4 1/4 The Strangers heyat Night (20 Perfect Strangers (2018) Alignment SECURITY WARNING Automatic update of links has been disabled Enable Content X ✓ fx B C D E F G H **For calculations in each of the four tables below refer only to the values calculated in the same table or provided in the DATA table. DATA General $ % 9 .00 .00 ➜.0 Depreciation Expense Number Conditional Formatting ✓ Format as Table ✓ Cell Styles Accumulated Depreciation Styles Insert Book Value Delete Format v Cells Sarah Hughes SH Sensitivity Sensitivity Comments Add-ins Analyze Data Add-ins J X Share
41 42 43 44 45 E11 46 47 48 X File Paste AutoSave On Home Insert Clipboard A नै Calibri S Page Layout BIU F Year 1 2 3 4 Font 11 V Units of Production V strangers sara... Upload Pen... ✓ A^ A A ● 17 Formulas Data Review View Automate Help = Alignment SECURITY WARNING Automatic update of links has been disabled Enable Content VEX ✓ fx B ===EE C Movies (21) Depreciation Per Unit ab HIH Search 2 D The Strangers Pay at Night (20 Perfect Strangers 2018) V General $ % 9 500 0 .00 Number Machine Hours 2,900 2,400 2,980 1,920 12 Conditional Formatting Format as Table Cell Styles E Styles Depreciation Expense V Insert F Delete V Format v Cells Accumulated Depreciation Σ Sarah Hughes 28~ Editing G Sensitivity SH - Book Value Comments Add-ins Sensitivity Add-ins dh Analyze Data H X Share X <
Transcribed Image Text:41 42 43 44 45 E11 46 47 48 X File Paste AutoSave On Home Insert Clipboard A नै Calibri S Page Layout BIU F Year 1 2 3 4 Font 11 V Units of Production V strangers sara... Upload Pen... ✓ A^ A A ● 17 Formulas Data Review View Automate Help = Alignment SECURITY WARNING Automatic update of links has been disabled Enable Content VEX ✓ fx B ===EE C Movies (21) Depreciation Per Unit ab HIH Search 2 D The Strangers Pay at Night (20 Perfect Strangers 2018) V General $ % 9 500 0 .00 Number Machine Hours 2,900 2,400 2,980 1,920 12 Conditional Formatting Format as Table Cell Styles E Styles Depreciation Expense V Insert F Delete V Format v Cells Accumulated Depreciation Σ Sarah Hughes 28~ Editing G Sensitivity SH - Book Value Comments Add-ins Sensitivity Add-ins dh Analyze Data H X Share X <
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