1 answer

Saved Required information [The following information applies to the questions displayed below.) Ramirez Company installs a...

Question:

Saved Required information [The following information applies to the questions displayed below.) Ramirez Company installs a c
Saved Required information [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 $45,900. The machine's useful life is estimated at 10 years, or 389,000 units of product, with a $7,000 salvage value. During its second year, the machine produces 32,900 units of product. Determine the machine's second-year depreciation using the double-declining balance method. Double-declining balance Depreciation Choose Factors: X C hoose Factor(%) Annual Depreciation Expense Depreciation expense Beginning book value x Double the straight-line rate First year's depreciation Second year's depreciation < Prey 2 of 6 !!! Next >

Answers

Solution

Double -declining -Balance Depreciation
Choose Factors x Choose Factor (%) = Annual depreciation expense
Beginning year Book value x Double the straight line rate = Depreciation expense
First year's Depreciation $     45,900.00 x 20% = $    9,180.00
Second year's Depreciation $     36,720.00 x 20% = $    7,344.00

.Working

Double declining Method
A Cost $ 45,900
B Residual Value $ 7,000
C=A - B Depreciable base $ 38,900
D Life [in years] 10
E=C/D Annual SLM depreciation $ 3,890
F=E/C SLM Rate 10.00%
G=F x 2 DDB Rate 20.00%

.

Depreciation schedule-Double declining
Year Beginning Book Value Depreciation rate Depreciation expense Accumulated Depreciation Ending Book Value
1 $ 45,900 20.00% $ 9,180 $ 9,180 $ 36,720
2 $ 36,720 20.00% $ 7,344 $ 16,524 $ 29,376
.

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