Problem 11-02 The cost of equipment purchased by Skysong, Inc., on June 1, 2020, is $107,100. It is estimated that the machine will have a s6,300 salvage value at the end of its service ife. Its service life is estimated at 7 years, its total working hours are estimated at 50,400, and its total production is estimated at 630,000 units. During 2020, the machine was operated 6,420 hours and produced 58,850 units. During 2021, the machine was operated 5,885 hours and produced 51,300 units. Compute deprediation expense on the machine for the year ending December 31, 2020, and the vear ending December 31, 2021, using the folowing methods. (Round depreciation per unit to 2 decimal places, e.g. 15.25 and final answers to o decimal places, e.g. 45,892.) 2020 2021 (a) Straight-ine (b) Units-of-output (c) Working hours (4) Sum of-the-years'-digits (e) Double declining-balance (twice the straight-ine rate)l Click if you would like to Show Work for this question: geen Show Work
Problem 11-02 The cost of equipment purchased by Skysong, Inc., on June 1, 2020, is $107,100. It is estimated that the machine will have a s6,300 salvage value at the end of its service ife. Its service life is estimated at 7 years, its total working hours are estimated at 50,400, and its total production is estimated at 630,000 units. During 2020, the machine was operated 6,420 hours and produced 58,850 units. During 2021, the machine was operated 5,885 hours and produced 51,300 units. Compute deprediation expense on the machine for the year ending December 31, 2020, and the vear ending December 31, 2021, using the folowing methods. (Round depreciation per unit to 2 decimal places, e.g. 15.25 and final answers to o decimal places, e.g. 45,892.) 2020 2021 (a) Straight-ine (b) Units-of-output (c) Working hours (4) Sum of-the-years'-digits (e) Double declining-balance (twice the straight-ine rate)l Click if you would like to Show Work for this question: geen Show Work
College Accounting, Chapters 1-27 (New in Accounting from Heintz and Parry)
22nd Edition
ISBN:9781305666160
Author:James A. Heintz, Robert W. Parry
Publisher:James A. Heintz, Robert W. Parry
Chapter18: Accounting For Long-term Assets
Section: Chapter Questions
Problem 3CE
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