Year 1 Year 2 Depreciation Year 1 Year 2 X b. Determine the depreciation for the current fiscal year and for the following fisca balance rate. Round your answers to the nearest dollar. Depreciation Incorrect

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Required A Required B Required C Compute the depreciation expense for each of the three decimal places. Round other intermediate cal Units-of- Production Year 1 Year 2 Year 3 Year 4

! Required information Problem 7-5B Determine depreciation under three methods (LO7-4) [The following information applies to the questions displayed below.] Cheetah Copy purchased a new copy machine. The new machine cost $110,000 including installation. The company estimates the equipment will have a residual value of $27,500. Cheetah Copy also estimates it will use the machine for four years or about 8,000 total hours. Actual use per year was as follows: Hours Used 2,000 1,600 2,000 3,200 Year 1 2 4 Problem 7-5B Part 2 2. Prepare a depreciation schedule for four years using the double-declining-balance method. (Hint: The asset will be depreciated in only two years.) (Do not round your intermediate calculations.) X Answer is complete but not entirely correct. CHEETAΗ COPY Depreciation Schedule-Double-Declining-Balance End of Year Amounts Depreciation Accumulated Year Вook Value Danreaintion Evnanse

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Exact Photo Service purchased a new color printer at the beginning of Year 1 for $39,000. The printer is expected to have a four-year useful life and a $3,900 salvage value. The expected print production is estimated at 1,500,000 pages. Actual print production for the four years was as follows: 551,300 483,700 384,700 389,600 Year 1 Year 2 Year 3 Year 4 Total 1,809,300 The printer was sold at the end of Year 4 for $4,300. Required a. Compute the depreciation expense for each of the four years, using double-declining-balance depreciation. b. Compute the depreciation expense for each of the four years, using units-of-production depreciation. c. Calculate the amount of gain or loss from the sale of the asset under each of the depreciation methods. Complete this question by entering your answers in the tabs below. Required A Required B Required C Compute the depreciation expense for each of the four years, using double-declining-balance depreciation. (Do not round your intermediate…

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Wheeler LLC purchased two assets during the current year (a full 12-month tax year). On November 16 Wheeler placed in service computer equipment (five-year property) with a basis of $20,500 and on April 20 placed in service furniture (seven-year property) with a basis of $14,300. Calculate the maximum depreciation expense (ignoring $179 and bonus depreciation). (Use MACRS Table 2.) (Round final answer to the nearest whole number.) 24 Multiple Choice $2,149 $3,578 $5,436 $6,064 None of the choices are correct.

Depreciation Methods On January 2, Skyler, Inc. purchased a laser cutting machine to be used in the fabrication of a part for one of its key products. The machine cost $90,000, and its estimated useful life was four years or 850,000 cuttings, after which it could be sold for $5,000. Required a. Calculate each year's depreciation expense for the machine's useful life under each of the following depreciation methods (round all answers to the nearest dollar): 1. Straight-line. 2. Double-declining balance. 3. Units-of-production. (Assume annual production in cuttings of 200,000; 350,000; 260,000; and 40,000.) 1. Straight-Line Depreciation Year Expense Year 1 $ Year 2 Year 3 Year 4 2. Double-declining balance Depreciation Expense Year Year 1 Year 2 Year 3 Year 4 Year 5 $ 3. Units of Production