Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. blossom ltd. purchased a new machine on april 4,20

Blossom Ltd. purchased a new machine on April 4,2017, at a cost of $172,000. The...

90.2K

Verified Solution

Question

Accounting

image
image
image
Blossom Ltd. purchased a new machine on April 4,2017, at a cost of $172,000. The company estimated that the machine would have a residual value of $16,000. The machine is expected to be used for 10,000 working hours during its four-year life. Actual machine usage was 1,500 hours in 2017:2,100 hours in 2018; 2,000 hours in 2019:2,400 hours in 2020; and 2,000 hours in 2021. Blossom has a December 31 year end. (a) Calculate depreciation for the machine under each of the following methods: (Round expense per unit to 2 decimal places, es. 2.75 and final answers to 0 decimal ploces, e.s. 5,275 .) (1) Straight-line for 2017 through to 2021. (2) Diminishing-balance using double the straight-line rate for 2017 through to 2021. (3) Units-of-production for 2017 through to 2021. 2017expense2018expense$2020expense$2021expense$$$$

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

Use the Divergence Theorem to calculate the surface integral s F ds that is calculate...

Basic Math
Q

Bob’s Roofing’s non-callable bonds were issued several years ago and now have 20 years to maturity....

Finance
Q

What are the four basic types of international strategies that a company may pursue? Explain how...

General Management
Q

In the situation shown in figure the switch has been shifted from position 1 to...

Physics
Q

A square loop containing an inductor of inductance 4 H and a capacitor of 2F...

Physics
Q

the number of a certain type of bacteria y present in a culture is determined...

Algebra
Q

Question 21 (2 points) There are many limitations of internal control....

Accounting
Q

A cost is a sacrifice made to obtain some benefit. True...

Accounting
Q

required, round your answers to two deeimal placen

Accounting
Q

The previous senior auditor on the engagement noted during interim testing that the roll-out of...

Accounting
Q

The Power Distance Index, identified by Geert Hofstede, focuses on risk orientation. O True O...

Finance
Q

can someone explain me this? On January 1, All City Services has the following...

Accounting