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-BARSIC- [3]
3 years ago
10

A factory machine was purchased for $393000 on January 1, 2018. It was estimated that it would have a $74000 salvage value at th

e end of its 5-year useful life. It was also estimated that the machine would be run 30000 hours in the 5 years. The company ran the machine for 3900 actual hours in 2018.
Required:
1. If the company uses the units-of-activity method of depreciation, the amount of depreciation expense for 2018 would be ________.
A) $51090.
B) $41470.
C) $82940.
D) $74000.
Business
1 answer:
sweet [91]3 years ago
5 0

Answer:

Annual depreciation= $41,470

Explanation:

Giving the following information:

Purchasing price= $393,000

Salvage value= $74,000

The machine would be run 30000 hours in the 5 years. The company ran the machine for 3900 actual hours in 2018.

To calculate the depreciation expense using the units of activity method, we need to use the following formula on each year:

Annual depreciation= [(original cost - salvage value)/useful life of production in hours]*hours operated

Annual depreciation= [(393,000 - 74,000)/30,000]*3,900

Annual depreciation= $41,470

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2 years ago
During the latest month, the company purchased and used 47,000 pounds of direct materials at a price of $1.20 per pound to produ
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$1400 U

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2 years ago
Jefferson Handyman Services has total assets for the year of $ 15 comma 400 and total liabilities of $ 8 comma 680. Requirements
Novay_Z [31]

Answer:

1. $6,720

2. $17,530

Explanation:

In this question, we use the accounting equation which is shown below:

Total assets = Total liabilities + Stockholder's equity

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$15,400 - $8,680 = Stockholder's equity

So, stockholder equity is $6,720

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