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Determine the machine’s second-year depreciation using the double-declining-balance method.

15/12/2020 Client: saad24vbs Deadline: 2 Day

7/6/2020 Assignment Print View


https://ezto.mheducation.com/hm.tpx?todo=c15SinglePrintView&singleQuestionNo=1.&postSubmissionView=13252712569588506&wid=1325271377… 2/3


1. Award: 2 out of 2.00 points


On January 1, the Matthews Band pays $65,600 for sound equipment. The band estimates it will use this equipment for five years and perform 200 concerts. It estimates that after five years it can sell the equipment for $2,000. During the first year, the band performs 45 concerts. Compute the first-year depreciation using the straight-line method.


Straight-Line Depreciation


Choose Numerator: / Choose Denominator: = Annual Depreciation Expense


Cost minus salvage  / Estimated useful life (years)  = Depreciation expense


$ 63,600  / 5  = $ 12,720 




References


Worksheet Difficulty: 2 Medium Learning Objective: 10-P1 Compute and record depreciation using the straight-line, units-of- production, and declining-balance methods.




On January 1, the Matthews Band pays $65,600 for sound equipment. The band estimates it will use this equipment for five years and perform 200 concerts. It estimates that after five years it can sell the equipment for $2,000. During the first year, the band performs 45 concerts. Compute the first-year depreciation using the straight-line method.


$ $


Straight-Line Depreciation


Choose Numerator: / Choose Denominator: = Annual Depreciation Expense


Cost minus salvage / Estimated useful life (years) = Depreciation expense


63,600 / 5 = 12,720


  Explanation:


Straight-line: First-year depreciation ($65,600 – $2,000) / 5 years = $12,720




7/6/2020 Assignment Print View


https://ezto.mheducation.com/hm.tpx?todo=c15SinglePrintView&singleQuestionNo=2.&postSubmissionView=13252712569666519&wid=1325271377… 2/3


2. Award: 2 out of 2.00 points


On January 1, the Matthews Band pays $65,600 for sound equipment. The band estimates it will use this equipment for five years and perform 200 concerts. It estimates that after five years it can sell the equipment for $2,000. During the first year, the band performs 55 concerts. Compute the first-year depreciation using the units-of-production method.


Select formula for the depreciation rate of Units of Production:


(Cost - Salvage value) / Total units of production 


Calculate the first year depreciation expense:


Depreciation per concert $ 318.00 


Concerts in first year 55 


Depreciation in first year $ 17,490




References


Expanded table Difficulty: 2 Medium Learning Objective: 10-P1 Compute and record depreciation using the straight-line, units-of-production, and declining-balance methods.




On January 1, the Matthews Band pays $65,600 for sound equipment. The band estimates it will use this equipment for five years and perform 200 concerts. It estimates that after five years it can sell the equipment for $2,000. During the first year, the band performs 55 concerts. Compute the first-year depreciation using the units-of-production method.


7/6/2020 Assignment Print View


https://ezto.mheducation.com/hm.tpx?todo=c15SinglePrintView&singleQuestionNo=3.&postSubmissionView=13252712569666521&wid=1325271377… 2/3


3. Award: 2 out of 2.00 points


A building is acquired on January 1, at a cost of $1,000,000 with an estimated useful life of 10 years and salvage value of $90,000. Compute depreciation expense for the first three years using the double-declining-balance method. (Round your answers to the nearest dollar.)


Depreciation for the Period End of Period


Annual Period Beginning of Period


Book Value


Depreciation Rate (%)


Depreciation Expense


Accumulated Depreciation Book Value


First Year $ 1,000,000  20%  $ 200,000  $ 200,000 $ 800,000


Second Year 800,000  20%  160,000  360,000 640,000


Third Year 640,000  20%  128,000  488,000 512,000




References


Expanded table Difficulty: 2 Medium Learning Objective: 10-P1 Compute and record depreciation using the straight-line, units-of-production, and declining-balance methods.




A building is acquired on January 1, at a cost of $1,000,000 with an estimated useful life of 10 years and salvage value of $90,000. Compute depreciation expense for the first three years using the double-declining-balance method. (Round your answers to the nearest dollar.)


$ $


+/-1


Depreciation for the Period End of Period


Annual Period Beginning of Period Book


Value


Depreciation Rate (%)


Depreciation Expense


Accumulated Depreciation Book Value


First Year 1,000,000 20% 200,000


Second Year 800,000 20% 160,000


Third Year 640,000 20% 128,000


$ 200,000 $ 800,000


360,000 640,000


488,000 512,000


F F


F F


F F


  Explanation:


Note: Double-declining-balance rate = (100% / 10 years) × 2 = 20%


First year: $1,000,000 × 20% $ 200,000 Second year: ($1,000,000 − $200,000) × 20% $ 160,000 Third year: ($1,000,000 − $200,000 − $160,000) × 20% $ 128,000*


7/6/2020 Assignment Print View


https://ezto.mheducation.com/hm.tpx?todo=c15SinglePrintView&singleQuestionNo=4.&postSubmissionView=13252712569666522,132527125696665… 1/2




Score: 30/30 Points 100 %


[The following information applies to the questions displayed below.] Ramirez Company installs a computerized manufacturing machine in its factory at the beginning of the year at a cost of $45,700. The machine's useful life is estimated at 10 years, or 397,000 units of product, with a $6,000 salvage value. During its second year, the machine produces 33,700 units of product.


7/6/2020 Assignment Print View


https://ezto.mheducation.com/hm.tpx?todo=c15SinglePrintView&singleQuestionNo=4.&postSubmissionView=13252712569666522,132527125696665… 2/2


4. Award: 4 out of 4.00 points


Determine the machine’s second-year depreciation and year end book value under the straight-line method.


Straight-Line Depreciation


Choose Numerator: / Choose Denominator: = Annual Depreciation Expense


Cost minus salvage  / Estimated useful life (years)  = Depreciation expense


$ 39,700  / 10  = $ 3,970


Year 2 Depreciation $ 3,970 


Year end book value (Year 2) $ 37,760 




References


Expanded table Difficulty: 2 Medium Learning Objective: 10-P1 Compute and record depreciation using the straight-line, units-of- production, and declining-balance methods.




Determine the machine’s second-year depreciation and year end book value under the straight-line method.


$


$


$


Straight-Line Depreciation


Choose Numerator: / Choose Denominator: = Annual Depreciation Expense


Cost minus salvage / Estimated useful life (years) = Depreciation expense


39,700 / 10 =


Year 2 Depreciation 3,970


Year end book value (Year 2) 37,760


$ 3,970


F


  Explanation:


Straight-line ($45,700 − $6,000) / 10 years = $3,970




7/6/2020 Assignment Print View


https://ezto.mheducation.com/hm.tpx?todo=c15SinglePrintView&singleQuestionNo=5.&postSubmissionView=13252712569666522,132527125696665… 1/2




Score: 30/30 Points 100 %


[The following information applies to the questions displayed below.] Ramirez Company installs a computerized manufacturing machine in its factory at the beginning of the year at a cost of $45,700. The machine's useful life is estimated at 10 years, or 397,000 units of product, with a $6,000 salvage value. During its second year, the machine produces 33,700 units of product.


7/6/2020 Assignment Print View


https://ezto.mheducation.com/hm.tpx?todo=c15SinglePrintView&singleQuestionNo=5.&postSubmissionView=13252712569666522,132527125696665… 2/2


5. Award: 5.50 out of 5.50 points


Determine the machine’s second-year depreciation using the units-of-production method.


Units-of-production Depreciation


Choose Numerator: / Choose Denominator: = Annual Depreciation Expense Cost minus salvage  / Total units of production  = Depreciation expense per unit


$ 39,700  / 397,000  = $ 0.10


Year Annual Production (units) Depreciation Expense


2 33,700  $ 3,370 




References


Expanded table Difficulty: 2 Medium Learning Objective: 10-P1 Compute and record depreciation using the straight-line, units-of-production, and declining-balance methods.




Determine the machine’s second-year depreciation using the units-of-production method.


$


$


Units-of-production Depreciation


Choose Numerator: / Choose Denominator: = Annual Depreciation Expense


Cost minus salvage / Total units of production = Depreciation expense per unit


39,700 / 397,000 =


Year Annual Production (units) Depreciation Expense


2 33,700 3,370


$ 0.10


F


  Explanation:


Units-of-production: Depreciation per unit = ($45,700 − $6,000) / 397,000 units = $0.10 per unit For 33,700 units in second year: Depreciation = 33,700 × $0.10 = $3,370




7/6/2020 Assignment Print View


https://ezto.mheducation.com/hm.tpx?todo=c15SinglePrintView&singleQuestionNo=6.&postSubmissionView=13252712569666522,132527125696665… 1/2




Score: 30/30 Points 100 %


[The following information applies to the questions displayed below.] Ramirez Company installs a computerized manufacturing machine in its factory at the beginning of the year at a cost of $45,700. The machine's useful life is estimated at 10 years, or 397,000 units of product, with a $6,000 salvage value. During its second year, the machine produces 33,700 units of product.


7/6/2020 Assignment Print View


https://ezto.mheducation.com/hm.tpx?todo=c15SinglePrintView&singleQuestionNo=6.&postSubmissionView=13252712569666522,132527125696665… 2/2


6. Award: 5.50 out of 5.50 points


Determine the machine’s second-year depreciation using the double-declining-balance method.


Double-declining-balance Depreciation


Choose Factors: x Choose Factor(%) = Annual


Depreciation Expense


Beginning book value  x


Double the straight-line rate  =


Depreciation expense


First year's depreciation $ 45,700  x 20%  = $ 9,140


Second year's depreciation $ 36,560  x 20%  = $ 7,312




References


Expanded table Difficulty: 2 Medium Learning Objective: 10-P1 Compute and record depreciation using the straight-line, units-of-production, and declining- balance methods.




Determine the machine’s second-year depreciation using the double-declining-balance method.


$


$


Double-declining-balance Depreciation


Choose Factors: x Choose Factor(%) = Annual Depreciation Expense Beginning book value x Double the straight-line rate = Depreciation expense


First year's depreciation 45,700 x 20% =


Second year's depreciation 36,560 x 20% =


$ 9,140


$ 7,312


F


F


  Explanation:


Double-declining-balance rate = (100% / 10 years) × 2 = 20% per year First year’s depreciation = $45,700 × 20% = $9,140 Book value at beginning of second year = $45,700 − $9,140 = $36,560 Second year’s depreciation = $36,560 × 20% = $7,312




7/6/2020 Assignment Print View


https://ezto.mheducation.com/hm.tpx?todo=c15SinglePrintView&singleQuestionNo=7.&postSubmissionView=13252712569666527,132527125696665… 1/3




Score: 30/30 Points 100 %


[The following information applies to the questions displayed below.] NewTech purchases computer equipment for $270,000 to use in operating activities for the next four years. It estimates the equipment’s salvage value at $31,000. rev: 07_27_2017_QC_CS-94103


7/6/2020 Assignment Print View


https://ezto.mheducation.com/hm.tpx?todo=c15SinglePrintView&singleQuestionNo=7.&postSubmissionView=13252712569666527,132527125696665… 2/3


7. Award: 4 out of 4.00 points


Prepare a table showing depreciation and book value for each of the four years assuming straight-line depreciation.


Straight-Line Depreciation


Choose Numerator: / Choose Denominator: =


Annual Depreciation


Expense Cost minus salvage


 / Estimated useful life (years)


 = Depreciation expense $ 239,000  / 4  = $ 59,750


Year Annual Depreciation Year-End Book Value


Year 1


$ 59,750  $ 210,250 


Year 2


59,750  150,500 


Year 3


59,750  90,750 


Year 4


59,750  31,000 


Total $ 239,000


rev: 08_22_2017_QC_CS-96211




References


Expanded table Difficulty: 2 Medium Learning Objective: 10-P1 Compute and record depreciation using the straight-line, units-of- production, and declining-balance methods.




Prepare a table showing depreciation and book value for each of the four years assuming straight-line depreciation.


7/6/2020 Assignment Print View


https://ezto.mheducation.com/hm.tpx?todo=c15SinglePrintView&singleQuestionNo=8.&postSubmissionView=13252712569666527,132527125696665… 1/3




Score: 30/30 Points 100 %


[The following information applies to the questions displayed below.] NewTech purchases computer equipment for $270,000 to use in operating activities for the next four years. It estimates the equipment’s salvage value at $31,000. rev: 07_27_2017_QC_CS-94103


7/6/2020 Assignment Print View


https://ezto.mheducation.com/hm.tpx?todo=c15SinglePrintView&singleQuestionNo=8.&postSubmissionView=13252712569666527,132527125696665… 2/3


8. Award: 5 out of 5.00 points


Prepare a table showing depreciation and book value for each of the four years assuming double-declining-balance depreciation. (Enter all amounts positive values.)


Depreciation for the Period End of Period


Year Beginning- Year Book


Value Depreciation


Rate Annual


Depreciation Accumulated Depreciation


Year-End Book Value


Year 1


$ 270,000  50%  $ 135,000  $ 135,000  $ 135,000 


Year 2


135,000  50%  67,500  202,500  67,500 


Year 3


67,500  50% 33,750  236,250  33,750 


Year 4 33,750 50%


2,750  239,000  31,000 


Total $ 239,000




References


Expanded table Difficulty: 2 Medium Learning Objective: 10-P1 Compute and record depreciation using the straight-line, units-of- production, and declining-balance methods.




Prepare a table showing depreciation and book value for each of the four years assuming double-declining- balance depreciation. (Enter all amounts positive values.)


  Explanation:


Double-declining-balance depreciation Depreciation rate: 100% / 4 years = 25%; 25% × 2 = 50% Do not depreciate more than $2,750 in the fourth year since the salvage value is not subject to depreciation.


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