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) Compute the depreciation expense under straight-line method for 2022. 2022 Depreciation expense %24

PROBLEM 1. The Jason Knife Co. purchased a machine on January 1, 2021. The machine cost $495,000. It had an estimated life of ten years, or 25,000 units, and an estimated residual value of $45,000. In! produced 3,000 units. Jason ao al Required: Compute the depreciation charge for 2021 using each of the following methods: a. double declining balance units of output c. sum of the years' digits d. straight line

3 Jaen Advertising Inc. reported the following on its December 31, 2020, balance sheet:  Equipment                                                      P500,000  Accumulated depreciation—equipment      P135,000     In a footnote, Jaen indicates that it uses straight-line depreciation over 10 years and estimates salvage value as 10% of cost.  What is the average age of the equipment owned by Jaen?  Group of answer choices  7.3 years  3 years  7 years  2.7 years

Question 1 On January 1, 2014, Evers Company purchased the following machine for use in its production process: Machine: The recorded cost of this machine was $180,000. Evers estimates that the useful life of the machine is 4 years with a $10,000 salvage value remaining at the end of that time period. Instructions a) Calculate the amount of depreciation expense that Evers should record each year of its useful life under the following assumptions. Show your workings. (1) Straight-line method (2) Double declining balance method (3) Units-of-activity method and estimates that the useful life of machine is 125,000 units. Actual usage is as follows: 2014, 45,000 units; 2015, 35,000 units; 2016, 25,000 units; 2017, 20,000 units. b) Which method used to calculate depreciation reports the highest amount of depreciation expense year 1? The highest in year 4? The highest total amount over the 4-year period? in

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Required B & Required C please

Problem 6-25 (Algo) Identify depreciation methods used LO 3 Grove Co. acquired a production machine on January 1, 2019, at a cost of $495,000. The machine is expected to have a four-year useful life, with a salvage value of $86,000. The machine is capable of producing 56,000 units of product in its lifetime. Actual production was as follows: 12,320 units in 2019; 17,920 units in 2020; 15,680 units in 2021; 10,080 units in 2022. Following is the comparative balance sheet presentation of the net book value of the production machine at December 31 for each year of the asset’s life, using three alternative depreciation methods (items a–c): Required: Identify the depreciation method used for each of the following comparative balance sheet presentations (items a–c). If a declining-balance method is used, be sure to indicate the percentage (150% or 200%). (Hint: Read the balance sheet from right to left to determine how much has been depreciated each year. Remember that December 31, 2019, is…

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Compute depreciation under different methods. b. 2.2022 DDB depreciation $90,000 P10.3 (LO 2), AN On January 1, 2022, Evers Company purchased the following two machines for use in its production process. Machine A: Machine B: Instructions The cash price of this machine was $48,000. Related expenditures also paid in cash included: sales tax $1,700, shipping costs $150, insurance during shipping $80, installation and testing costs $70, and $100 of oil and lubricants to be used with the machinery during its first year of operations. Evers estimates that the useful life of the machine is 5 years with a $5,000 salvage value remaining at the end of that time period. Assume that the straight-line method of depreciation is used. The recorded cost of this machine was $180,000. Evers estimates that the useful life of the machine is 4 years with a $10,000 salvage value remaining at the end of that time period. a. Prepare the following for Machine A. 1. The journal entry to record its purchase on…