Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. new attempt is in progress. some of the new entrie

New attempt is in progress. Some of the new entries may impact the last...

70.2K

Verified Solution

Question

Accounting

New attempt is in progress. Some of the new entries may impact the last attempt grading.Your answer is partially correct.

Blossom Corp. purchased machinery for $381,450 on May 1, 2020. It is estimated that it will have a useful life of 10 years, salvage value of $18,450, production of 290,400 units, and working hours of 25,000. During 2021, Blossom Corp. uses the machinery for 2,650 hours, and the machinery produces 31,400 units. From the information given, compute the depreciation charge for 2021 under each of the following methods. (Round intermediate calculations to 2 decimal places, e.g. 5.25 and final answers to 0 decimal places, e.g. 45,892.)

(a)

Straight-line

$36300

(b)

Units-of-output

$enter a dollar amount

(c)

Working hours

$enter a dollar amount

(d)

Sum-of-the-years'-digits

$enter a dollar amount

(e)

Declining-balance (use 20% as the annual rate)

$66118

I've looked at other answers and still don't understand how to do these 3 correctly. Thank you in advance!

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

Assume you have a liability with three required payments: $3,000 due in 1 year; $2,000 due...

Finance
Q

treatment for osteomyelitis includes

Biology
Q

compare and contrast (give both similarities and differences) disinfection and sterilization

Biology
Q

On September 1, 2019, Jay Walker Company purchased a one-year insurance policy for $420. The correct...

Advance Math
Q

Annie has written the following thesis statement for her persuasive speech All nations must unite...

Biology
Q

water n 1 33 O sapphire n 1 77 glass n 1 52

Physics
Q

1 3P V 2 3P V 3 6P V 4 12P V The volume of...

Physics
Q

Use the Law of Cosines to solve the triangle Round your answers to two decimal...

Calculus
Q

Solve the exponential equation 8 8 12 4 x 0 Compute the exact answer Solve...

Algebra
Q

The payroll register of Konrath Co. indicates $13,200 of social security withheld and $3,300 of...

Accounting
Q

A skeleton of Northen corporations, balance sheet appears as follows: Use the following...

Accounting
Q

Consumption Ratios; Activity Rates Bienestar Company produces two types of get-well cards: scented and regular....

Accounting