The Bendell Company purchased a piece of machinery for $120,000.00. It has an estimated useful life of five years or 12,000 hours and a residual value of $6,000.00. What is the calculated depreciation for years 1 and 2 by the Straight line method? Year 1: 28,500 Year 2: 26,600 Year 1: 28, 800 Year 2: 28,800

ABC Company purchased a machine for $2 million that can produce 3,000,000 products over its useful life. The company estimates that this machine has a salvage value of $200,000. Assume in Year 1, the machine produced 200,000 products. The amount of depreciation that should be recorded for the first year is: a. $135 000 b. $120 000 c. $58 000 d. $48 900

Equipment with a cost of $148,767.00 has an estimated residual value of $8,167.00 and an estimated life of 7 years or 14,290 hours. It is to be depreciated by the straight-line method. What is the amount of depreciation for the first full year, during which the equipment was used 3,563 hours? Select the correct answer. $35,056.53 $20,085.71 $39.46 $7.00

Sabel Co. purchased assembly equipment for $608,000 on January 1, Year 1. The equipment is expected to have a useful life of 320,000 miles and a salvage value of $32,000. Actual mileage was as follows: Year 1 88,000 Year 2 84,000 Year 3 79,000 Year 4 48,000 Year 5 22,000 Required a. Compute the depreciation for each of the five years, assuming the use of units-of-production depreciation. b. Assume that Sabel earns $242,000 of cash revenue during Year 1. Record the purchase of the equipment and the recognition of the revenue and the depreciation expense for the first year in the following financial statements model. c. Assume that Sabel sold the equipment at the end of the fifth year for $33,800. Calculate the amount of gain or loss on the sale.

On January 1, a machine with a useful life of five years and a salvage value of $20000 was purchased for $290000. What is the depreciation expense for year 2 under straight-line depreciation?

Concord Corporation purchased a depreciable asset for $ 553000. The estimated salvage value is $ 28000, and the estimated useful life is 9000 hours. Carson used the asset for 1800 hours in the current year. The activity method will be used for depreciation. What is the depreciation expense on this asset in the current year? $ 525000 $ 52500 $ 105000 $ 116200

A truck acquired at a cost of $202,800 has an estimated residual value of $18,000, has an estimated useful life of 440,000 miles, and was driven 113,000 miles during the year. Determine the following. If required, round your answer for the depreciation rate to 2 decimal places. a. The depreciable cost $   b. The depreciation rate $ per mile c. The units-of-activity depreciation for the year $

Copy equipment was acquired at the beginning of the year at a cost of $51,850 that has an estimated residual value of $4,700 and an estimated useful life of 5 years. It is estimated that the machine will output an estimated 943,000 copies. This year, 204,000 copies were made. a. Determine the depreciable cost.$fill in the blank 1 b. Determine the depreciation rate. Round your answer to two decimal places.$fill in the blank 2 per copy c. Determine the units-of-output depreciation for the year.$fill in the blank 3

A truck acquired at a cost of $445,000 has an estimated residual value of $26,500, has an estimated useful life of 45,000 miles, and was driven 4,100 miles during the year. Determine the following. If required, round your answer for the depreciation rate to two decimal places. (a) The depreciable cost $fill in the blank 1   (b) The depreciation rate $fill in the blank 2 per mile (c) The units-of-activity depreciation for the year $fill in the blank 3       Determining Cost of Land On-Time Delivery Company acquired an adjacent lot to construct a new warehouse, paying $32,000 in cash and giving a short-term note for $337,000. Legal fees paid were $1,620, delinquent taxes assumed were $11,900, and fees paid to remove an old building from the land were $18,900. Materials salvaged from the demolition of the building were sold for $5,500. A contractor was paid $1,121,800 to construct a new warehouse. Determine the cost of the land to be reported on the balance sheet.$fill in the…

Computer equipment was acquired at the beginning of the year at a cost of $62,544 that has an estimated residual value of $3,039 and an estimated useful life of 5 years. Determine the second-year depreciation using the straight-line method.