## Answers

Part A | ||||||

Straight Line method | ||||||

Year | Cost of asset | Depreciable cost | Depreciation rate | Depreciation expenses | Accumulated Depreciation | Book value |

At Acquistion | $215,000 | $215,000 | ||||

2018 | $213,000 | 10.00% | $21,300 | $21,300 | $193,700 | |

2019 | $213,000 | 10.00% | $21,300 | $42,600 | $172,400 | |

Double Declining balance | ||||||

Date | Cost of asset | Book Value | DDB Rate | Depreciation expenses | Accumulated Depreciation | Book value |

At Acquistion | $215,000 | $215,000 | ||||

2018 | $215,000 | 20.00% | $43,000 | $43,000 | $172,000 | |

2019 | $172,000 | 20.00% | $34,400 | $77,400 | $137,600 | |

Units of Production | ||||||

Date | Depreciable cost | Depreciation per hour | No. of hours | Depreciation expenses | Accumulated Depreciation | Book value |

At Acquistion | $215,000 | |||||

2018 | $213,000 | $7.10 | 4000 | $28,400 | $28,400 | $186,600 |

2019 | $213,000 | $7.10 | 5500 | $39,050 | $67,450 | $147,550 |

Part B(Also calculated above) | ||||||

Carrying Amount at the end of 2019 under straight line method =$215,000 - $21,300 - $21,300 =$172,400 | ||||||

Part C | ||||||

The Depreciation expense in 2019 under units ofproduction method as calculated in Part a is $39,050 | ||||||

Date | Account explanation | Debit | Credit | |||

Jan 4,2018 | Machine | $ 215,000 | ||||

Cash | $ 215,000 | |||||

(to machine purchased in cash) | ||||||

Dec 31,2019 | Depreciation expense | $ 39,050 | ||||

Accumulated Depreciation-Machine | $ 39,050 | |||||

(to depreciation charged for 2019) | ||||||

#### Similar Solved Questions

1 answer

##### A plane is flying 2000 feet above sea level toward a mountain as shown. The pilot...

A plane is flying 2000 feet above sea level toward a mountain as shown. The pilot observes the top of the mountain to be a = 16° above the horizontal, then immediately flies the plane at an angle of ß = 20° above horizontal. The airspeed of the plane is 100 mph. After 5 minutes, the pl...

1 answer

##### Use the following information to answer the next five questions: Consider the after-tax cash flows below...

Use the following information to answer the next five questions: Consider the after-tax cash flows below from a project that is being considered by Despondus Corporation. Since the project is an extension of the firm's current business, it carries the same risk as the overall firm. Year 0 1 2 3 ...

1 answer

##### The righ, hat l. released into the mants, thereby giving measure o, protection against the cok....

the righ, hat l. released into the mants, thereby giving measure o, protection against the cok. Suppose a grower sprays 7.↓ kg of water 0-c onto·fruit tr (a) How much heat is released by the water when it freezes? absorbed the heat released in part (a), Assu me that the specre heat capac...

1 answer

##### A palindrome is a sequence of characters that reads the same backward as forward. For example,...

A palindrome is a sequence of characters that reads the same backward as forward. For example, each of the following five-digit integers is a palindrome: 12321, 55555, 45554 and 11611. Write an application that reads in a five-digit integer and determines whether it's a palindrome. If the number...

1 answer

##### Problem #3: 5 fair 12-sided dice are rolled. (a) [3 marks] Find the conditional probability that...

Problem #3: 5 fair 12-sided dice are rolled. (a) [3 marks] Find the conditional probability that at least one die lands on 3 given that all 5 dice land on different numbers. 6) [2 marks] True or False: If X is the maximum of the 5 numbers from one roll, and Y is the minimum of the 5 numbers from one...

1 answer

##### The magnetic field of an electromagnetic wave is described by By = B0cos(kx - ωt), where...

The magnetic field of an electromagnetic wave is described by By = B0cos(kx - ωt), where B0 = 3.5 × 10-6 T and ω = 2.5 × 107 rad/s. What is the amplitude of the corresponding electric field oscillations, E0, in terms of B0? What is the frequency of the electromagne...

1 answer

##### Question 3 6 pts Imagine the consumer's utility function is: U = Vevo and that the...

Question 3 6 pts Imagine the consumer's utility function is: U = Vevo and that the consumer must pay a proportional profit tax, t, on any profits she makes. Therefore, the consumer pays taxes tp, where P are the profits she receives. There are no other taxes. 1. Solve for the two equations that ...

1 answer

##### As a result of a water leak during July, a portion of XYZ Ltd's inventory was...

As a result of a water leak during July, a portion of XYZ Ltd's inventory was damaged. After assessing the damaged goods, the following values were determined on July 31:- Net Realizable Itemp Units* 5,000 3,000 2,000 Cost per UnitValue per Unit' $25 S35 $80 $15 $30 $85+ Bo What inventory va...

1 answer

##### How do you convert #2 1/5# into a decimal and a percent?

How do you convert #2 1/5# into a decimal and a percent?...

1 answer

##### What is q′(x) when q(x)=log8(6x3+3x+1)? What is q'(x) when g(x) = log2 (6x3 + 3x +...

What is q′(x) when q(x)=log8(6x3+3x+1)? What is q'(x) when g(x) = log2 (6x3 + 3x + 1)? Select the correct answer below: (In 8)(6x +3x+1) 18x2+3 6x2+3x+1 (In 8)(18x²+3) 6x+3x+1 O log (18x2 + 3) 18x? +3 (In 8)(6r+3x+1)...

1 answer

##### An asset has the estimated salvage values for various lives, shown in the table below. For...

An asset has the estimated salvage values for various lives, shown in the table below. For each possible life from 1 to 6 by 1, determine the capital e overy cost for MARR of 8% year. EOY NCF Estimated SV $105,000 $30,000 $30,000 $30,000 $30,000 $30,000 $30,000 $85,000 $65,000 $55,000 $45,000 $40,00...

1 answer

##### An empty rectangle tank with a base area of 2400 cm^2 is filed with water from 2 taps

an empty rectangle tank with a base area of 2400 cm^2 is filed with water from 2 taps. one tap can fill the tank with 12L of water per minute, while the other tap can do it at 3l less perminute.(A) what will be the depth of water in the tank after both taps are turned on for 6 minutes?(B) if water l...

1 answer

##### Production Budget Assume that Stillwater Designs produces two automotive subwoofers: S12L7 and S12L5. The S12L7 sells...

Production Budget Assume that Stillwater Designs produces two automotive subwoofers: S12L7 and S12L5. The S12L7 sells for $475, and the S12L5 sells for $300. Projected sales (number of speakers) for the coming five quarters are as follows: S12L7 S12L5 First quarter, 20Y1 800 1,300 Second qua...

1 answer

##### The nurse is preparing to care for a patient who will begin taking atenolol (Tenormin). The...

The nurse is preparing to care for a patient who will begin taking atenolol (Tenormin). The nurse's knowledge of beta blockers prompts which action as part of the initial assessment? A. Asking if the patient's past medical history includes asthma, B. Encouraging a low.sodium diet C. Asking t...

1 answer

##### What are the reason why doctors combine 3 antibiotics. (flaggy, cefepime and Vacomycin) the patient has...

what are the reason why doctors combine 3 antibiotics. (flaggy, cefepime and Vacomycin) the patient has Gas gangrene Cellulitis . Why will a patient be on Plavix, Wafarin and aspirin even though the person is bleeding so much from the surgery site....

1 answer

##### Buffers are common (and extremely important) in biological systems, including in human body. One of the...

Buffers are common (and extremely important) in biological systems, including in human body. One of the most important biological buffers in human blood is the buffer established between carbonic acid and bicarbonate ion (H2CO3/HCO3–). At 25 oC, H2CO3 has a Ka1 of 4.45x10–7 and a Ka2 of ...

1 answer

##### All of the following apply to the process of protein synthessis except : the mRNA sequence...

All of the following apply to the process of protein synthessis except : the mRNA sequence is the rame as that of the DNA template smand (2) amino acids are juined together by ribosome ③ requires the expendture te of process enersy unwind bedre synthesized . tre gene must MRNA can be...