Blossom Company purchased a new machine on October 1, 2025, at a cost of $90,640. The company estimated that the machine has a salvage value of $9,040. The machine is expected to be used for 70,500 working hours during its 8-year life. Compute the depreciation expense under the straight-line method for 2025 and 2026, assuming a December 31 year-end. Depreciation expense under the straight-line method $ 2025 $ 2026

Concord Corporation purchased a new machine for its assembly process on August 1, 2025. The cost of this machine was $129,600. The company estimated that the machine would have a salvage value of $12,600 at the end of its service life. Its life is estimated at 5 years, and its working hours are estimated at 20,000 hours. Year-end is December 31. Compute the depreciation expense under the following methods. Each of the following should be considered unrelated. (Round depreciation rate per hour to 2 decimal places, e.g. 5.35 for computational purposes. Round your answers to O decimal places, e.g. 45,892.) (a) Straight-line depreciation for 2025 (b) (c) (d) Activity method for 2025, assuming that machine usage was 800 hours Sum-of-the-years'-digits for 2026 Double-declining-balance for 2026 $ $ LA $ 9,750 4,680 31,200 43,200

Cullumber Company purchased a new machine on October 1, 2022, at a cost of $110,000. The company estimated that the machine will have a salvage value of $10,000. The machine is expected to be used for 10,000 working hours during its 5-year life. (a) Your answer is correct. Compute the depreciation expense under straight-line method for 2022. 2022 Depreciation expense 5000 eTextbook and Media Attempts: unlimited %24

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Sheridan Company purchased a machine on July 1, 2020, for $940000. The machine has an estimated useful life of five years and a salvage value of $209000. The machine is being depreciated from the date of acquisition by the 150% declining-balance method. For the year ended December 31, 2020, Sheridan should record depreciation expense on this machine of $109650. $188000. $282000. $141000.

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On January 1, 2024, Hobart Manufacturing Company purchased a drill press at a cost of $36,000. The drill press is expected to last 10 years and has a residual value of $6,000. During its 10-year life, the equipment is expected to produce 500,000 units of product. In 2024 and 2025, 25,000 and 84,000 units, respectively, were produced. Required: Compute depreciation for 2024 and 2025 and the book value of the drill press on December 31, 2024 and December 31, 2025, assuming the double-declining-balance method is used. Depreciation Book Value 2024 2025

Academy Sports purchased a crane at a cost of $80,000. The crane has an estimated salvage value of $5,000 and an estimated life of 8 years, or 12,500 hours of operation. The crane was purchased on January 1, 2022 and was used for 2,700 hours in 2022 and 2,600 hours in 2023. Based on this information, what method of depreciation will produce the maximum depreciation expense for 2022?

Machinery purchased for $68,400 by Bramble Co. in 2021 was originally estimated to have a life of 8 years with a salvage value of $4,560 at the end of that time. Depreciation has been entered for 5 years on this basis. In 2026, it is determined that the total estimated life should be 10 years with a salvage value of $5,130 at the end of that time. Assume straight-line depreciation. Prepare the entry to correct the prior years' depreciation, if necessary.