New lithographic equipment, acquired at a cost of $905,600 on March 1 at the beginning of a fiscal year, has an estimated useful life of five years and an estimated residual value of $101,880. The manager requested information regarding the effect of alternative methods on the amount of depreciation expense each year. On the basis of the data presented to the manager, the double-declining-balance method was selected. In the first week of the fifth year, on March 4, the equipment was sold for $149,286.   Required: 1. Determine the annual depreciation expense for each of the estimated five years of use, the accumulated depreciation at the end of each year, and the book value of the equipment at the end of each year by (b) the double-declining-balance method. Round your answers to the nearest whole dollar.

A building is acquired on January 1 at a cost of $1,030,000 with an estimated useful life of eight years and salvage value of $92,700. Compute depreciation expense for the first three years using the double-declining-balance method. (Round your answers to the nearest dollar.) Annual Period First Year Second Year Third Year Depreciation for the Period Depreciation Rate (%) Beginning of Period Book Value Depreciation Expense End of Period Accumulated Depreciation Book Value

Computer equipment was acquired at the beginning of the year at a cost of $57,500 that has an estimated residual value of $3,500 and an estimated useful life of 5 years. a. Determine the depreciable cost.fill in the blank 1 of 1$ b. Determine the double-declining-balance rate.fill in the blank 1 of 1 % c. Determine the double-declining-balance depreciation for the first year.fill in the blank 1 of 1$

A building is acquired on January 1, at a cost of $900,000 with an estimated useful life of 10 years and salvage value of $81,000.  Compute depreciation expense for the first three years using the double-declining-balance method. (Round your answers to the nearest dollar.)

Dexter Industries purchased packaging equipment on January 8 for $314,600. The equipment was expected to have a useful life of three years, or 7,800 operating hours, and a residual value of $26,000. The equipment was used for 3,120 hours during Year 1, 2,418 hours in Year 2, and 2,262 hours in Year 3. Required: 1.  Determine the amount of depreciation expense for the three years ending December 31, Year 1, Year 2, Year 3, by (a) the straight-line method, (b) the units-of-activity method, and (c) the double-declining-balance method. Also determine the total depreciation expense for the three years by each method. Note: For all methods, round the answer for each year to the nearest whole dollar. Depreciation Expense Year Straight-Line Method Units-of-Activity Method Double-Declining-Balance Method Year 1 $fill in the blank 1   $fill in the blank 2   $fill in the blank 3   Year 2 $fill in the blank 4   $fill in the blank 5   $fill in the blank 6   Year 3 $fill in the blank 7…

On January 1, Year 2, Webb Construction Company overhauled four cranes resulting in a slight increase in the life of the cranes. Such overhauls occur regularly at two-year intervals and have been treated as maintenance expense in the past. Management is considering whether to capitalize this year's $28,310 cash cost expense. Assume that the cranes have a remaining useful life of two years and no expected salvage value. Assume straight-line depreciation. the Cranes asset account or to expense it as a maintenance Required a. Determine the amount of additional depreciation expense Webb would recognize in Year 2 and Year 3 if the cost were capitalized in the Cranes account. b. Determine the amount of expense Webb would recognize in Year 2 and Year 3 if the cost were recognized as maintenance expense. c. Determine the effect of the overhaul on cash flow from operating activities for Year 2 and Year 3 if the cost were capitalized and expensed through depreciation charges. (Cash outflows…

New lithographic equipment, acquired at a cost of $800,000 on March 1 at the beginning of a fiscal year, has an estimated useful life of 5 years and an estimated residual value of $90,000 The manager requested information regarding the effect of alternative methods on the amount of depreciation expense each year, In the first week of the fifth year, on March 4, the equipment was sold for $134,570. Required: 1. Determine the annual depreciation expense for each of the estimated 5 years of use, the accumulated depreciation at the end of each year, and the book value of the equipment at the end of each year by (a) the straight-line method and (b) the double-declining-balance method. 2. Journalize the entry to record the sale, assuming the manager chose the double-declining-balance method. 3. Journalize the entry to record the sale in (2), assuming that the equipment was sold for $88,180 instead of $134,570.

A storage tank acquired at the beginning of the fiscal year at a cost of $95,000 has an estimated residual value of $5,000 and an estimated useful life of 25 years. a.  Determine the amount of annual depreciation by the straight-line method.$ b.  Determine the amount of depreciation for the first and second years computed by the double-declining-balance method. Do not round the double-declining balance rate. If required, round your answers to the nearest dollar.     Depreciation Year 1   $ Year 2   $

Ramirez Company installs a computerized manufacturing machine in its factory at the beginning of the year at a cost of $840,000. The machine's useful life is estimated at ten years, with a $75,600 salvage value. Determine this expensive machine's depreciation expense for each of the first 3 years under the double-declining balance method. Note: Round your answers to the nearest dollar. Annual Period First Year Second Year Third Year Depreciation for the Period Beginning of Period Book Value End of Period Depreciation Depreciation Accumulated Rate (%) Expense Depreciation Book Value

Copy equipment was acquired at the beginning of the year at a cost of $41,560 that has an estimated residual value of $3,800 and an estimated useful life of 5 years. It is estimated that the machine will output an estimated 944,000 copies. This year, 271,000 copies were made. Determine the (a) depreciable cost, (b) depreciation rate, and (c) units-of-activity depreciation for the year. Round "depreciation rate" to two decimal places. a.  Depreciable cost $fill in the blank 1   b.  Depreciation rate fill in the blank 2 per copy c.  The units-of-output depreciation for the year $fill in the blank 3