Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. exercise 7-48 (algorithmic) depreciation methods b

Exercise 7-48 (Algorithmic) Depreciation Methods Berkshire Corporation purchased a copying machine for $9,800 on January...

80.2K

Verified Solution

Question

Accounting

image

Exercise 7-48 (Algorithmic) Depreciation Methods Berkshire Corporation purchased a copying machine for $9,800 on January 1, 2019. The machine's residual value was $1,175 and its expected life was 5 years or 2,000,000 copies. Actual usage was 480,000 copies in the first year and 462,000 in the second year. Required: 1. Compute depreciation expense for 2019 and 2020 using the: a. Straight-line method. Depreciation expense: per year b. Double-declining-balance method. Depreciation Expense 2019 2020 c. Units-of-production method. (Do not round intermediate calculations. Round your final answers to the nearest whole dollar) Depreciation Expense 2019 2020 2. For each depreciation method, what is the book value of the machine at the end of 2019? At the end of 2020? If required, round your answers to the nearest whole dollar. 2019 2020 a. Straight-line method dll Ill b. Double-declining-balance method c. Units-of-production method

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: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

The unit circle can alternatively be parametrized by the equations:x(t) = -t + 1 /...

Calculus
Q

19 27 Answer questions a e concerning the following reaction HO C H T CH3...

Biology
Q

5 A beam of light coming from a rarer medium is partially reflected from the...

Physics
Q

Differentiate the following function and factor fully.f(x) = (x + 4)(x - 3)? a) 3(x+5)(x+4)(x-3)?b) 3(3x+5)(x+4)(x-3)?c)...

Basic Math
Q

A store purchases baseball hats from two different manufacturers in 3 different colors summarized below...

Basic Math
Q

Compute? ? ? z(x + y2) d V, where E is a solid that lies...

Calculus
Q

Weightman Corporation's net operating income in Year 2 was $76,385, net income before taxes was...

Accounting
Q

Which of the following statements regarding degree of operating leverage (DOL) is correct? DOL is...

Accounting
Q

In the financial statements for Company A, Treasury Stock increased $25,000 from a cash purchase,...

Accounting
Q

I AM NEEDING HELP FIGURING OUT THE CAPITAL GAIN AMOUNTS AND THE DIVIDEND INCOME FOR...

Accounting
Q

7 100 - $ 0.0 123 run 1. The firm's records indicate that Check 1316...

Accounting
Q

9. What is the APR on a loan at 10% interest, monthly payments, 30 year...

Finance