Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. apex fitness club uses straight-line depreciation

Apex Fitness Club uses straight-line depreciation for a machine costing $19,750, with an estimated four-year...

50.1K

Verified Solution

Question

Accounting

Apex Fitness Club uses straight-line depreciation for a machine costing $19,750, with an estimated four-year life and a $2,200 salvage value. At the beginning of the third year, Apex determines that the machine has three more years of remaining useful life, after which it will have an estimated $1,750 salvage value.

Compute the amount of depreciation for each of the final three years given the revised estimates. (Do not round intermediate calculations. Round your answers to the nearest whole dollar.)

Revised Depreciation (Years 3-5)
Book value at point of revision
Revised salvage value
Remaining depreciable cost
Years of life remaining
Revised annual depreciation years 3-5

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Zin AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

Create a database for Premier League to answer Which team has the most corner kick in...

Programming
Q

Show that momentum conservation follows from translational invariance.

Physics
Q

To be relevant, information must o a differ among the alternatives b make a difference...

Accounting
Q

2 $9159 3 S88.a 5 $78.66 S96.13 $82.15 The following table sur unes prices of...

Accounting
Q

Under absorption costing, a company had the following unit costs when 8,000 units were produced....

Accounting
Q

The general ledger of Jackrabbit Rentals at January 1, 2021. Includes the following account balances:...

Accounting
Q

Exercise 21A-8 a-d Crane Company, a machinery dealer, leased a machine to Dexter Corporation on...

Accounting
Q

Below is a negative Tweet about your business. Please provide an appropriate response to this...

Accounting
Q

Pina Colada Corp. has the following transactions related to notes receivable during the last 2...

Accounting
Q

I need the closing entries for the following worksheet Account Titles...

Accounting
Q

Suppose that you would like to buy a small apartment 3 years from today. The...

Finance
Q

Star, Inc. a prominent consumer products firm, is debating whether or not to convert its...

Finance