Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. on april 22,2023, ivanhoe enterprises purchased eq

On April 22,2023, Ivanhoe Enterprises purchased equipment for $134,400. The company expects to use the...

70.2K

Verified Solution

Question

Accounting

On April 22,2023, Ivanhoe Enterprises purchased equipment for $134,400. The company expects to use the equipment for 11,500 working hours during its four-year life and that it will have a residual value of $12,500. Ivanhoe has a December 31 year end and pro-rates depreciation to the nearest month. The actual machine usage was: 1,700 hours in 2023; 2,600 hours in 2024; 3,500 hours in 2025; 3,000 hours in 2026; and 900 hours in 2027.Prepare a depreciation schedule for the life of the asset under the double diminishing-balance method. (Round partial-period depreciation rate to 4 decimal palces, e.g.15.2563% and other answers to 0 decimal places, e.g.5,276.)

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

What is the probability that the woman has a diastolic blood pressure between 60 and 90...

Statistics
Q

Carbon monoxide at 25C and saturated steam at 150C are fed to a continuous water-shift reactor....

Chemistry
Q

Sequential (Step) Method of Support Department Cost Allocation Valron Company has two support departments, Human Resources...

Accounting
Q

Problem 3 23 How many number of turns of nichrome wire of specific resistance 10...

Physics
Q

9 Below are monochromatic light rays traveling through three substances A B and C A...

Physics
Q

estion 7 6 5 4 3 4 7 Slope m 6 5 4 3 2...

Basic Math
Q

1 Which of the following functions has a graph that is the graph of y...

Algebra
Q

Carver Company uses a plant-wide overhead rate based on direct labour cost. Suppose that during...

Accounting
Q

what is the best way to open the sage50 accounting program and data file

Accounting
Q

3. A public college had tuition and fees of $20,000,000. Scholarships given to students (for...

Accounting
Q

Briefly describe an organization with which you are familiar. Describe a situation when a manager...

Accounting
Q

Jim, a retail merchant, reported the following on his 2015 return: Sales $200,000; COGS: $80,000;...

Accounting