Required information Exercise 11-4 (Algo) Other depreciation methods [LO11-2] [The following information applies to the questions displayed below.] On January 1, 2021, the Allegheny Corporation purchased equipment for $139,000. The estimated service life of the equipment is 10 years and the estimated residual value is $7,000. The equipment is expected to produce 228,000 units during its life. Required: Calculate depreciation for 2021 and 2022 using each of the following methods. Exercise 11-4 (Algo) Part 1 1. Sum-of-the-years'-digits (Do not round intermediate calculations. Round final answers to the nearest whole dollar amount.) Year 2021 Answer is complete and correct. $ Depreciation expense 24,000 2022 $ 21,600

Required information Exercise 11-4 (Algo) Other depreciation methods [LO11-2] [The following information applies to the questions displayed below.] On January 1, 2021, the Allegheny Corporation purchased equipment for $139,000. The estimated service life of the equipment is 10 years and the estimated residual value is $7,000. The equipment is expected to produce 228,000 units during its life. Required: Calculate depreciation for 2021 and 2022 using each of the following methods. Exercise 11-4 (Algo) Part 1 1. Sum-of-the-years'-digits (Do not round intermediate calculations. Round final answers to the nearest whole dollar amount.) Year 2021 Answer is complete and correct. $ Depreciation expense 24,000 2022 $ 21,600

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter11: Depreciation, Depletion, Impairment, And Disposal

Section: Chapter Questions

Problem 5E: Comprehensive: Acquisition, Subsequent Expenditures, and Depreciation On January 2, 2019, Lapar...

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Referring to PA7 where Kenzie Company purchased a 3-D printer for $450,000, consider how the purchase of the printer impacts not only depreciation expense each year but also the assets book value. What amount will be recorded as depreciation expense each year, and what will the book value be at the end of each year after depreciation is recorded?
On May 10, 2019, Horan Company purchased equipment for 25,000. The equipment has an estimated service life of 5 years and zero residual value. Assume that the straight-line depreciation method is used. Required: Compute the depreciation expense for 2019 for each of the following four alternatives: 1. Horan computes depreciation expense to the nearest day. (Use 12 months of 30 days each and round the daily depreciation rate to 2 decimal places.) 2. Horan computes depreciation expense to the nearest month. Assets purchased in the first half of the month are considered owned for the whole month. 3. Horan computes depreciation expense to the nearest whole year. Assets purchased in the first half of the year are considered owned for the whole year. 4. Horan records one-half years depreciation expense on all assets purchased during the year.
! Required information Exercise 11-2 (Algo) Depreciation methods [LO11-2] [The following information applies to the questions displayed below.] On January 1, 2024, the Allegheny Corporation purchased equipment for $134,000. The estimated service life of the equipment is 10 years and the estimated residual value is $2,000. The equipment is expected to produce 240,000 units during its life. Required: Calculate depreciation for 2024 and 2025 using each of the following methods. Exercise 11-2 (Algo) Part 1 1. Straight-line. Formula Amounts 2024 2025 Choose Numerator: Annual Depreciation Straight-Line Depreciation + Choose Denominator: = II = = Annual Depreciation Annual Depreciation
nheducation.com/ext/map/index.html?_con=con&external_browser%3D0&launchUrl=https%253A%252F%252Flms.mheducation.com%252Fmgh Exercises Saved Check my work mode : This shows what is correct or incorrect for the work you have completed so far. It does not indic Required information Exercise 11-4 (Algo) Other depreciation methods [LO11-2] [The following information applies to the questions displayed below.] On January 1, 2021, the Allegheny Corporation purchased equipment for $187,000. The estimated service life of the equipment is 10 years and the estimated residual value is $11,000. The equipment is expected to produce 244,000 units during its life. Required: Calculate depreciation for 2021 and 2022 using each of the following methods. Exercise 11-4 (Algo) Part 1 1. Sum-of-the-years'-digits (Do not round intermediate calculations. Round final answers to the nearest whole dollar amount.) X Answer is complete but not entirely correct. Depreciation Year expense 2021 $ 24,000 X 2022 21,600 X…
Exercise 11-4 (Algo) Other depreciation methods [LO11-2] [The following information applies to the questions displayed below.] On January 1, 2021, the Allegheny Corporation purchased equipment for $187,000. The estimated service life of the equipment is 10 years and the estimated residual value is $11,00O. The equipment is expected to produce 244,000 units during its life. Required: Calculate depreciation for 2021 and 2022 using each of the following methods. Exercise 11-4 (Algo) Part 2 2. One hundred fifty percent declining balance. (Round final answers to the nearest whole dollar amount.) O Answer is complete but not entirely correct. Depreciation Year expense 2021 26,400 X 2022 22,440 X
Required information (The following information applies to the questions displayed below} On January 1, 2021, the Allegheny Corporation purchased equipment for $128.000. The estimated service life of the equipment is 10 years and the estimated residual value is $7,000. The equipment is expected to produce 200,000 units during its life. Required: Calculate depreciation for 2021 and 2022 using each of the following methods. 1. Straight-line. Straight-Line Depreciation Annual Depreciation Expense Choose Numerator: Choose Denominator Formula Depreciation Expense Amounts Depreciation Expense 2021 2022 2. Double-declining-balance. Double-Declining-Balance Method Formula Depreciation Expense Amount for 2021 Amount for 2022 3. Units of production (units produced in 2021, 31,000; units produced in 2022, 26,000). (Round "Depreciation per unit rate" answers to 2 decimal places.) Select formula for Units of Production Depreciation: Calculate 2021 depreciation expense Depreciation per unit rate…
Required information Exercise 11-4 (Algo) Other depreciation methods [LO11-2] [The following information applies to the questions displayed below.] On January 1, 2021, the Allegheny Corporation purchased equipment for $343,000. The estimated service life of the equipment is 10 years and the estimated residual value is $24,000. The equipment is expected to produce 296,000 units during its life. Required: Calculate depreciation for 2021 and 2022 using each of the following methods. Exercise 11-4 (Algo) Part 2 2. One hundred fifty percent declining balance. (Round final answers to the nearest whole dollar amount.) Depreciation expense Year 2021 2022
! Required information [The following information applies to the questions displayed below.] On January 1, 2024, the Allegheny Corporation purchased equipment for $162,000. The estimated service life of the equipment is 10 years and the estimated residual value is $8,000. The equipment is expected to produce 350,000 units during its life. Required: Calculate depreciation for 2024 and 2025 using each of the following methods. 1. Straight-line. Formula Amounts 2024 2025 Choose Numerator: Annual Depreciation Straight-Line Depreciation + Choose Denominator: Annual Depreciation = Annual Depreciation II II
Required information Exercise 11-2 (Algo) Depreciation methods [LO11-2] [The following information applies to the questions displayed below.] On January 1, 2024, the Allegheny Corporation purchased equipment for $134,000. The estimated service life of the equipment is 10 years and the estimated residual value is $2,000. The equipment is expected to produce 240,000 units during its life. Required: Calculate depreciation for 2024 and 2025 using each of the following methods. Exercise 11-2 (Algo) Part 2 2. Double-declining-balance. Formula Amount for 2024 Amount for 2025 Beginning Book Value $ $ Double-Declining-Balance Method x Proportion of Units Produced 203,000 X 192,850 x = Depreciation Expense 20% = 20% =
Required information Exercise 11-3 (Algo) Depreciation methods partial periods [LO11-2] [The following information applies to the questions displayed below.] On October 1, 2021, the Allegheny Corporation purchased equipment for $148,000. The estimated service life of the equipment is 10 years and the estimated residual value is $5,000. The equipment is expected to produce 260,000 units during its life. Required: Calculate depreciation for 2021 and 2022 using each of the following methods. Partial-year depreciation is calculated based on the number of months the asset is in service. Exercise 11-3 (Algo) Part 2 2. Double-declining-balance. Formula Amount for 2021 Amount for 2022 Choose Numerator: Beginning Book Value Answer is not complete. Double-Declining-Balance Method X Choose Denominator: X Double the Straight-line Rate % % X X X x Fraction of Year Fraction of Year 3/12 12/12 › › Depreciation Expense Depreciation Expense
Required information Exercise 11-3 (Algo) Depreciation methods partial periods [LO11-2] [The following information applies to the questions displayed below.] On October 1, 2021, the Allegheny Corporation purchased equipment for $148,000. The estimated service life of the equipment is 10 years and the estimated residual value is $5,000. The equipment is expected to produce 260,000 units during its life. Required: Calculate depreciation for 2021 and 2022 using each of the following methods. Partial-year depreciation is calculated based on the number of months the asset is in service. Exercise 11-3 (Algo) Part 3 3. Units of production (units produced in 2021, 13,000; units produced in 2022, 28,000). (Round "Depreciation per unit rate" answers to 2 decimal places.) Select formula for Units of Production Depreciation: Calculate 2021 depreciation expense: Depreciation per unit rate Units produced in 2021 Depreciation in 2021 Calculate 2022 depreciation expense: Depreciation per unit rate…
Required information Exercise 11-3 (Algo) Depreciation methods partial periods [LO11-2] [The following information applies to the questions displayed below.] On October 1, 2021, the Allegheny Corporation purchased equipment for $233,000. The estimated service life of the equipment is 10 years and the estimated residual value is $2,000. The equipment is expected to produce 420,000 units during its life. Required: Calculate depreciation for 2021 and 2022 using each of the following methods. Partial-year depreciation is calculated based on the number of months the asset is in service. Exercise 11-3 (Algo) Part 2 2. Double-declining-balance. X Answer is not complete. Double-Declining-Balance Method Fraction of Depreciation Expense Depreciation Expense Choose Numerator: Choose Denominator: !! Year Fraction of Year Formula Cost Minus Residual Straight-line Rate Amount for 2021 Amount for 2022 2$ 2 X x 3/12 11,650 %3D $ 2 X 10 X % 44,270 %3D