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olga2289 [7]
3 years ago
13

Dexter Industries purchased packaging equipment on January 8 for $98,000. The equipment was expected to have a useful life of th

ree years, or 20,000 operating hours, and a residual value of $6,000. The equipment was used for 8,980 hours during Year 1, 6,930 hours in Year 2, and 4,090 hours in Year 3.
Required: 1. Determine the amount of depreciation expense for the three years ended December 31 by (a) the straight-line method, (b) the units-of-activity method, and (c) the double-declining-balance method. Also determine the total depreciation expense for the three years by each method. (Note: For STRAIGHT-LINE ONLY, round the first two years to the nearest whole dollar, then round the third year as necessary. For DECLINING BALANCE ONLY, round the multiplier to five decimal places. Then round the answer for each year to the nearest whole dollar.)
Business
1 answer:
Shkiper50 [21]3 years ago
3 0

Answer:

a) 30,667 per year

b) year 1 : 41,308

  year 2 :  31,878

  year 3 :  18,814

c)

year 1 $65,333.33  

year 2 $21,777.78  

year 3 $4,888.89  

Explanation:

a)

\frac{Adquisition \: Value- \: Salvage \: Value}{useful \: life}= Depreciation \: coplete \: year

(98,000 - 6,000) / 3 = 30,667

b)

\frac{Adquisition \: Value- \: Salvage \: Value}{cost \: driver}= Depreciation \: rate

(98,000-6,000)/ 20,000 = 4.6

year 1  8,980 x 4.6  =  41,308

year 2 6,930 x 4.6  =  31,878

year 3 4,090 x 4.6  =  18,814

c) double declining rate:

2/useful life = 2/3

then we apply this rate to the carrying value

Year  Beginning Dep-Expense Acc. \: Dep Ending

-    - - -                                                  $98,000.00  

1   $98,000.00   $65,333.33   $65,333.33   $32,666.67  

2   $32,666.67   $21,777.78   $87,111.11   $10,888.89  

3   $10,888.89   $4,888.89   $92,000.00   $6,000.00  

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Carol and her friends are creating a new company that ships monthly subscription boxes filled with beauty products to customers.
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29. Fiona has initiated a project to establish a company website for interactive electronic commerce that encourages customers t
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2 years ago
Ireland Corporation obtained a $40,000 note receivable from a customer on June 30, 2011. The note, along with interest at 6%, is
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Answer:

$39,220

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Another term for trade balance​
cestrela7 [59]

Answer:

Another term for trade balance would be trade deficit.

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