Assume Plain Ice Cream Company, Incorporated, in Ithaca, NY, bought a new ice cream production kit (pasteuriz cooler, aging vat, freezer, and filling machine) at the beginning of the year at a cost of $28,000. The estimated useful life was four years, and the residual value was $2,560. Assume that the estimated productive life of the machine was 10,600 hours. Actual annual usage was 4,240 hours in Year 1; 3,180 hours in Year 2; 2,120 hours in Year 3; and 1,060 hours in Year 4. Required: 1. Complete a separate depreciation schedule for each of the alternative methods. a. Straight-line. b. Units-of-production. c. Double-declining-balance. Complete this question by entering your answers in the tabs below. Req 1A Req 1B Req 1C Complete a depreciation schedule using the straight-line method. Year Depreciation Expense Accumulated Depreciation Net Book Value At acquisition 1 2 3

FINANCIAL ACCOUNTING
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Author:Libby
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Chapter1: Financial Statements And Business Decisions
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Assume Plain Ice Cream Company, Incorporated, in Ithaca, NY, bought a new ice cream production kit (pasteurizer/homogenizer,
cooler, aging vat, freezer, and filling machine) at the beginning of the year at a cost of $28,000. The estimated useful life was four
years, and the residual value was $2,560. Assume that the estimated productive life of the machine was 10,600 hours. Actual annual
usage was 4,240 hours in Year 1; 3,180 hours in Year 2; 2,120 hours in Year 3; and 1,060 hours in Year 4.
Required:
1. Complete a separate depreciation schedule for each of the alternative methods.
a. Straight-line.
b. Units-of-production.
c. Double-declining-balance.
Complete this question by entering your answers in the tabs below.
Req 1A
Req 1B
Req 1C
Complete a depreciation schedule using the straight-line method.
Year
Depreciation
Expense
At acquisition
1
2
3
Accumulated
Depreciation
Net
Book Value
Transcribed Image Text:Assume Plain Ice Cream Company, Incorporated, in Ithaca, NY, bought a new ice cream production kit (pasteurizer/homogenizer, cooler, aging vat, freezer, and filling machine) at the beginning of the year at a cost of $28,000. The estimated useful life was four years, and the residual value was $2,560. Assume that the estimated productive life of the machine was 10,600 hours. Actual annual usage was 4,240 hours in Year 1; 3,180 hours in Year 2; 2,120 hours in Year 3; and 1,060 hours in Year 4. Required: 1. Complete a separate depreciation schedule for each of the alternative methods. a. Straight-line. b. Units-of-production. c. Double-declining-balance. Complete this question by entering your answers in the tabs below. Req 1A Req 1B Req 1C Complete a depreciation schedule using the straight-line method. Year Depreciation Expense At acquisition 1 2 3 Accumulated Depreciation Net Book Value
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