FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Splish Company purchased equipment for $246,000 on October 1, 2025. It is estimated that the equipment will have a useful life
of 8 years and a salvage value of $15,600. Estimated production is 36,000 units and estimated working hours are 20,000. During 2025,
Splish uses the equipment for 530 hours and the equipment produces 1,100 units.
Compute depreciation expense under each of the following methods. Splish is on a calendar-year basis ending December 31. (Round
rate per hour and rate per unit to 2 decimal places, e.g. 5.35 and final answers to O decimal places, e.g. 45,892.)
(a)
(b)
(c)
Straight-line method for 2025
(e)
Activity method (units of output) for 2025
Activity method (working hours) for 2025
(d) Sum-of-the-years'-digits method for 2027
Double-declining-balance method for 2026
$
$
$
$
GA
$
GA
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Transcribed Image Text:Splish Company purchased equipment for $246,000 on October 1, 2025. It is estimated that the equipment will have a useful life of 8 years and a salvage value of $15,600. Estimated production is 36,000 units and estimated working hours are 20,000. During 2025, Splish uses the equipment for 530 hours and the equipment produces 1,100 units. Compute depreciation expense under each of the following methods. Splish is on a calendar-year basis ending December 31. (Round rate per hour and rate per unit to 2 decimal places, e.g. 5.35 and final answers to O decimal places, e.g. 45,892.) (a) (b) (c) Straight-line method for 2025 (e) Activity method (units of output) for 2025 Activity method (working hours) for 2025 (d) Sum-of-the-years'-digits method for 2027 Double-declining-balance method for 2026 $ $ $ $ GA $ GA
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(d) Sum-of-the-years-digits method for 2027
(e) Double-declining-balance method for 2026
GA
$
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Transcribed Image Text:(d) Sum-of-the-years-digits method for 2027 (e) Double-declining-balance method for 2026 GA $
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(d) Sum-of-the-years-digits method for 2027
(e) Double-declining-balance method for 2026
GA
$
expand button
Transcribed Image Text:(d) Sum-of-the-years-digits method for 2027 (e) Double-declining-balance method for 2026 GA $
Solution
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