Devon Manufacturing Company purchased a new canning machine on July 1, 2015, for $190,000. The estimated salvage value is $15,000. The company uses units-of-production depreciation and estimates the machine will produce 125,000 units during its useful life. In 2015, the company manufactured 5,000 units after acquiring the machine. Depreciation expense for 2015 will be

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On January 1, 2013, Zane Manufacturing Company purchased a machine for $40,000.  The company expects to use the machine a total of 24,000 hours over the next 6 years.  The estimated sales price of the machine at the end of 6 years is $4,000.  The company used the machine 8,000 hours in 2013 and 12,000 in 2014.   What is depreciation expense for 2013 if the company uses straight-line depreciation?

On January 1, 2003, Superior Landscaping Company paid P17,000 to buy a stump grinder. If Superior uses the grinder to remove 2,500 stumps per year, it would have an estimated useful life of 10 years and a salvage value of P4,500. The amount of depreciation expense for the year 2003, using units-of-production depreciation and assuming that 3,500 stumps were removed, is?

On January 2, 2010, Sayre Company purchased a machine for $45,000. The machine has a five-year estimated useful life and a $3,000 estimated residual value. In addition, the company expects the machine to produce 200,000 units. Assuming that the machine produced 35,000 and 45,000 units during 2010 and 2011, respectively, complete the following chart.       Depreciation Expense1st Year Depreciation Expense2nd Year Accumulated Depreciation Carrying (Book) Value Straight-Line     Method         Units-of-Production       Method         Double Declining Balance Method

On January 1, 2022 Romano Company purchased a machine for $180,000. It is estimated that the machine will have a useful life of 4 years with a salvage value of $10,000 at the end of its useful life. It is also estimated that the machine will produce 125,000 units over its useful life. Actual usage was as follows: 2022, 45,000 units; 2023, 35,000 units; 2024, 25,000 units; and 2025, 20,000 units. Required: Calculate the annual depreciation expense under each of the following methods using an excel spread sheet: Declining-Balance

Sammie J’s pizza shop purchased a new delivery vehicle on January 1, 2015. The vehicle cost $16,850, has a salvage value of $2,270 and a useful life of 6 years. Calculate depreciation for years 1-6. On January 1st, 2018 Sammie J’s Pizza repaired the engine in the delivery truck for a cost of $3,800 for the vehicle that was originally purchased on January 1, 2015. This is a capital expenditure. Revise the depreciation for the delivery truck with the revised cost and new useful life of 8 years. I am using straight-line depreciation, please show me how the answer is calculated. Thank you so much

Sheffield Corp. purchased machinery for $375,000 on May 1, 2023. It is estimated that it will have a useful life of 10 years, residual value of $15,000, production of 160,000 units, and 30,000 working hours. The machinery will have a physical life of 15 years and a salvage value of $3,000. During 2024, Sheffield used the machinery for 2,600 hours and the machinery produced 27,000 units. Sheffield prepares financial statements in accordance with IFRS. From the information given, calculate the depreciation charge for 2024 under each of the following methods, assuming Sheffield has a December 31 year end. Calculate the depreciation charge for 2024 under declining-balance, using a 20% rate. Depreciation charge for 2024 $

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Rogers Co. had a sheet metal cutter that cost $240,000 on January 1, 2013. This old cutter had an estimated life of ten years and a salvage value of $40,000. On April 1, 2018, the old cutter is exchanged for a new cutter with a fair value of $120,000. Rogers also received $30,000 cash. Assume that the last fiscal period ended on December 31, 2017, and that straight-line depreciation is used. Instruction: Record any entries required on April 1, 2018.