On January 1, 2018, Tyson Manufacturing Corporation purchased a machine for $40,000,000. Tyson's management expects to use the machine for 33,000 hours over the next six years. The estimated residual value of the machine at the end of the sixth year is $47,000. The machine was used for 4000 hours in 2018 and 5500 hours in 2019. What is the depreciation expense for 2018 if the corporation uses the units-of-production method of depreciation? (Round any intermediate calculations to two decimal places, and your final answer to the nearest dollar.) A) $4,842,800 B) $13,333,333 C) $6,658,850 D) $4,848,480

Birkey Company purchased equipment on January 1, 2020, at a total cost of $99,000. The machinery’s estimated useful life is 8 years or 60,000 hours, and its residual value is $9,000. During 2020 and 2021, the machinery was used 7,000 and 8,00 hours, respectively.   Calculate the depreciation expense for 2020 using the units-of-production method.   Show your calculations  Blank 1. Fill in the blank, read surrounding text. 2020 Depreciation Expense Units-of-Production Method  Blank 2. Fill in the blank, read surrounding text.

Mercury Incorporated purchased equipment in 2022 at a cost of $212,000. The equipment was expected to produce 560,000 units over the next five years and have a residual value of $44,000. The equipment was sold for $112,500 part way through 2024. Actual production in each year was: 2022 = 78,000 units; 2023 = 124,000 units; 2024 = 63,000 units. Mercury uses units-of-production depreciation, and all depreciation has been recorded through the disposal date. Calculate the gain or loss on the sale. Prepare the journal entry to record the sale. Assuming that the equipment was instead sold for $145,500, calculate the gain or loss on the sale. Prepare the journal entry to record the sale in requirement 3.

Dewey Corporation purchased a machine for $340,000 on January 1, 2012. The machine had an                     estimated useful life of 12 years and an estimated residual value of $40,000. The machine was                     depreciated using the straight-line method.                                           On April 1, 2021, the company no longer needed the machine and sold it for $80,000. Dewey takes                     a half-year depreciation for the year an asset is disposed.                                           a. What is the book value of the machine at the end of 2020?                                           b. Calculate and record the depreciation for 2021 in the journal provided.                                           c. Calculate the book value of the machine at the time of sale.                                           d. Record the sale of the machine on April 1 in the journal provided.

Mountain View Resorts purchased equipment at the beginning of 2021 for $41,000. Residual value at the end of an estimated four-year service life is expected to be $6,600. The machine operated for 1,600 hours in the first year and the company expects the machine to operate for a total of 11,000 hours over its four-year life.   Calculate depreciation expense for 2021, using each of the following depreciation methods: (1) straight-line, (2) double-declining-balance, and (3) activity-based. (Round your intermediate calculations to 2 decimal places.)

On January 1, 2018. Questor Airlines purchased a used airplane for $53,600,000. Questor Airlines expects the plane to remain useful for five years (6,000,000 miles) and to have a residual value of $5,600,000. The company expects the plane to be flown 1,100,000 miles the first year. Read the requirements Begin by selecting the formula to calculate the company's first-year depreciation expense on the plane using the straight-line method. Then enter the amounts and calculate the depreciation for the first year. = Straight-line depreciation Requirement 1b. Compute Questor Airlines's first-year depreciation expense on the plane using the units-of-production method. Before calculating the first-year depreciation expense on the plane using the units-of-production method, calculate the depreciation expense per unit. Select the formula, then enter the amounts and calculate the depreciation per unit. Depreciation per unit Now, select the formula, enter the amounts, and calculate the company's…

Howarth Manufacturing Company purchased equipment on June 30, 2017, at a cost of $155,000. The residual value of the equipment was estimated to be $14,000 at the end of a five-year life. The equipment was sold on March 31, 2021, for $48,000. Howarth uses the straight-line depreciation method for all of its plant and equipment. Partial-year depreciation is calculated based on the number of months the asset is in service. Required:1. Prepare the journal entry to record the sale.2. Assuming that Howarth had instead used the double-declining-balance method, prepare the journal entry to record the sale.

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

Duluth Ranch, Incorporated purchased a machine on January 1, 2021. The cost of the machine was $44,000. Its estimated residual value was $14,000 at the end of an estimated 5-year life. The company expects to produce a total of 20,000 units. The company produced 1,600 units in 2021 and 2,050 units in 2022. Required: a. Calculate depreciation expense for 2021 and 2022 using the straight-line method. b. Calculate the depreciation expense for 2021 and 2022 using the units-of-production method. c. Calculate depreciation expense for 2021 through 2025 using the double-declining balance method. Complete this question by entering your answers in the tabs below. Required A Required B Required C Calculate the depreciation expense for 2021 and 2022 using the units-of-production method. (Do not round your intermediate calculations. Round your final answers to the nearest whole dollar.) 2021 2022 Depreciation Expense

Mountain View Resorts purchased equipment at the beginning of 2021 for $40,000. Residual value at the end of an estimated four- year service life is expected to be $8,200. The machine operated for 1,900 hours in the first year and the company expects the machine to operate for a total of 11,000 hours over its four-year life. Calculate depreciation expense for 2021, using each of the following depreciation methods: (1) straight-line, (2) double-declining- balance, and (3) activity-based. (Round your intermediate calculations to 2 decimal places.) Depreciation Expense Straight-line Double-declining-balance Activity-based