Fontaine Ltd. acquired a machine for $600,000 on January 1, 2022. The machine has a salvage value of $10,000 and a five-year useful life. Fontaine expects the machine to run for 15,000 machine hours. The machine was actually used for 4,800 hours in 2022 and 3,150 hours in 2023. What amount would Fontaine record as depreciation expense for the year ending December 31, 2023, if the double declining balance method were used?

Q: On January 1, 2017, Garden Company purchased a new machine for $4,200,000. The new machine has an…

A: Lets understand the basics. Depreciation is a reduction in value of asset due to wear and tear,…

Q: ARON Corp. acquired a machine at a total cost of P5,200,000. The estimated life of the machine is 8…

A: Depreciation per hour = (Cost of the assets - Salvage value) / Total estimated operating machine…

Q: On April 30​, 2023​, Foley Distribution Service purchased a copy machine for $53,400. Foley…

A: Straight line method is one of simple method used to calculate depreciation expense, under this…

Q: Sunland Company purchased a new machine on October 1, 2022, at a cost of $67,380. The company…

A: Depreciation is a reduction in the value of assets due to the usage of that asset. We can evaluate…

Q: On July 1, 2020, Zelensky Company, a calendar-year company, purchased a machine for a cash price of…

A: The depreciation expense is charged on fixed assets as reduced value of the fixed asset with usage…

Q: Martinez Corporation purchased machinery on January 1, 2022, at a cost of $268,000. The estimated…

A: Depreciation is considered as an expense charge on the value of the Asset. It can be calculated by…

Q: Bramble Corp. purchased a new machine on October 1, 2020, at a cost of $126,000. The company…

A: Straight line depreciation rate = 100% / Life of asset = 100% / 4 = 25% Double declining balance…

Q: Freedom Co. purchased a new machine on July 2, 2019, at a total installed cost of $132,000. The…

A: Depreciation is considered as an expense charge on the value of the Asset. It can be calculated by…

Q: Fontaine Ltd. acquired a machine for $600,000 on January 1, 2022. The machine has a salvage value of…

A: Depreciation is a reduction in the value of assets due to the usage of that asset. We can evaluate…

Q: On January​ 1, 2024, Sanderson Company acquired a machine for $1,000,000. The estimated useful life…

A: Depreciation: Decreasing value of Assets over its useful life period.

Q: On January 1, 2024, Birdman Company purchased for P240,000 a machine with a useful life of 10 years…

A: A change in depreciation method is a change in method that is not distinguishable from a change in…

Q: CEE Corporation purchased a machine on January 1, 2016 by instalment, initially paying $1,000,000,…

A: Depreciation - It refers to the fall in the value of fixed assets due to wear and tear. It is a…

Q: On January 2, 2015, Roth, Inc. purchased a laser cutting machine to be used in the fabrication of a…

A: Depreciation expense: Depreciation expense is a non-cash expense, which is recorded on the income…

Q: Blue Spruce Corp. purchased a new machine on October 1, 2020, at a cost of $134,000. The company…

A: 1. Compute the depreciation expense under straight-line method for 2020- Please see attached Answer…

Q: On July 1, 2020, Lettuce Company, a calendar-year company, purchased a machine for a cash price of…

A: 2020: Depreciation rate = 1/useful life = 1/10 = 10% Depreciation expense (for the entire year) = 2…

Q: Oriole Company purchased a new machine on October 1, 2022, at a cost of $68,880. The company…

A: Determine depreciable cost of the machine.

Q: Linton Company purchased a delivery truck for $34,000 on January 1, 2020. The truck has an expected…

A: Answer a) 1) 2) Computation of Depreciation per mile is as follows: Depreciation per mile =$34000…

Q: Crane Company purchased a new machine on October 1, 2022, at a cost of $80,500. The company…

A:

Q: The Vladimir Corporation purchased an equipment on January 1, 2020. The machine cost P 92,000, with…

A: Depreciation is used to denote a decrease in the value of fixed assets. Depreciation is the…

Q: Splish Brothers Inc. purchased a delivery truck for $47,000 on January 1, 2022. The truck has an…

A: 1. Calculate the depreciation expense under the straight-line method. Depreciation expense under…

Q: The Potter Corporation purchased a machine on January 1, 2020. The machine cost P 46,000, with an…

A: Solution..     Cost = P46,000  Estimated salvage value = P2,000  Life = 10 years

Q: On January 1, 2018, Morrow Inc. purchased a spooler at a cost of $40,000. The equipment is expected…

A: Depreciation refers to the permanent/fall/decline/decrease in the value of asset pertaining to many…

Q: On April 1, 2021, Metro Co. purchased machinery at a cost of $42,000. The machinery is expected to…

A: Depreciation means the amount fixed assets written off due to normal wear and tear , normal usage ,…

Q: Cheyenne Corp. purchased a new machine on October 1, 2022, at a cost of $131,000. The company…

A: Depreciation per hour (Units of production method) =(cost of Asset - salvage value )  / Estimated…

Q: Spiderman Company purchased a machine on January 1, 2017 for P3,760,000. The machine was estimated…

A: Total Sum-of-the-years'-digits = 1+2+3+4+5 = 15 years Total sum of life remaining at the end of 2019…

Q: Cullumber Company purchased a new machine on October 1, 2022, at a cost of $110,000. The company…

A: Double declining depreciation rate = Straight line depreciation rate x 2 = (100/5 years) x 2 = 40%

Q: Marigold Company constructed a building at a cost of $2,288,000 and occupied it beginning in January…

A: Depreciation means the loss in value of assets because of usage of assets , passage of time or…

Q: n January 1, 2018, World Inc. purchased five machines at a cost of $14,000 each. The company adopted…

A: Depreciation is a reduction in the value of assets due to the usage of that asset. We can evaluate…

Q: On April 1, 2018, Magnum Company purchased a delivery equipment for $88,000, with an expected useful…

A: The depreciation is an expense charged on fixed asset as the reduction in the value of fixed asset…

Q: Cox Inc. acquired a machine for $410,000 on January 1, Year 1. The machine has a salvage value of…

A: The depreciation expense is charged on fixed assets as reduction in the value of fixed assets with…

Q: Ayayai Corporation purchased machinery on January 1, 2022, at a cost of $252,000. The estimated…

A: Fixed asset: It is a long-term asset used in the business for long period and is depreciated for its…

Q: On January 1, 2021, Truesdale, Incorporated, purchased a piece of machinery for use in operations.…

A: Depreciation rate as per double declining balance method = (100/useful life) ×2

Q: Novak Corp. purchased a new machine on October 1, 2022, at a cost of $137,000. The company estimated…

A: Depreciation is a reduction in the value of assets due to the usage of that asset. We can evaluate…

Q: On January 1, 2020, Coronado Industries purchased a new machine for $4290000. The new machine has an…

A: Depreciation: It refers to a gradual decrease in the fixed asset’s value because of obsolescence,…

Q: Linton Company purchased a delivery truck for $34,000 on January 1, 2022. The truck has an expected…

A: 1. Determine the depreciation expense for 2022 and 2023: Cost of truck $34,000 Less: Expected…

Q: On January 1, 2024, Tyson Manufacturing Corporation purchased a machine for $40,000,000. Tyson's…

A: Depreciation is a reduction in the value of assets due to the usage of that asset. We can evaluate…

Q: A company purchased a new machine on May 1, 2012 for $528,000. At the time of acquisition, the…

A: Depreciation is a reduction in the value of assets due to the usage of that asset. We can evaluate…

Q: Schilling Corporation purchased a machine on January 1, 2018, at a total cost of $900,000. The…

A:

Q: On January 1, 2020, Swifty Corporation purchased a new machine for $4110000. The new machine has an…

A: Depreciation means reduction in value of the asset over the useful life of the asset.

Q: On 1 July 2019, Briarly Pty Ltd purchased a new printing machine for $152,000. The company expected…

A: Depreciation means allocation of cost of asset over the useful life of the asset. It can be charged…

Q: The BAKAL Company purchased a machine on November 1, 2011, for P148,000.  At the time of…

A: Straight line method of Depreciation The purpose calculating the depreciation is to identified the…

Q: On April 30​, 2023​, Foley Distribution Service purchased a copy machine for $53,400. Foley…

A: Straight line method is a depreciation method. In this method, same amount of depreciation is…

Q: Martinez Company constructed a building at a cost of $2,464,000 and occupied it beginning in January…

A: Depreciation is the loss in the value of the asset caused due to its usage, wear and tear.There are…

Q: Ariel Company purchased a boring machine on January 1, 2022 for P8,100,000. The useful life of the…

A: Introduction:- The following basic information as follows under:- Machine expected to units…

Q: Cheyenne Corp. purchased a delivery truck for $42,000 on January 1, 2022. The truck has an expected…

A: Depreciation expense refers to the amount needs to be deducted from the gross profit of a company in…

Q: Concord Company acquires a delivery truck at a cost of $54,000 on January 1, 2022. The truck is…

A: Annual depreciation expense under straight line method = (Cost - Salvage value)/Useful life

Q: Show the calculation of the amount of gain or loss to be recognized by Susan Co. from the exchange.

A: Depreciation:   Depreciation refers to the reduction in the monetary value of a fixed asset due…

Q: Orton Corporation, which has a calendar year accounting period, purchased a new machine for $80,000…

A: Calculate depreciation expense: Depreciation expense = (Purchase cost - salvage value) / useful life…