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Schach [20]
3 years ago
11

On September 30, 2021, Bricker Enterprises purchased a machine for $200,000. The estimated service life is 10 years with a $20,0

00 residual value. Bricker records partial-year depreciation based on the number of months in service. Depreciation (to the nearest dollar) for 2022, using sum-of-the-years' digits, would be closest to:
Business
1 answer:
Mrrafil [7]3 years ago
4 0

Answer:

Bricker Enterprises

Depreciation for 2022, using sum-of-the-years' digits would be closest to $29,455.

Explanation:

a) Data and Calculations:

Cost of machine = $200,000

Residual value = $20,000

Depreciable amount = $180,000

In 2021, the depreciation = 10/55 x $180,000 x 3/12 = $8,182

In 2022, the depreciation = 9/55 x $180,000 = $29,455

Bricker Enterprises uses the sum-of-the-years' digits as an accelerated method of depreciating the machine, so that much of the value of its asset is charged against profit in the earlier years when the repair costs are negligible.  To implement this method, Bricker will take into consideration, the original cost of the asset, the salvage value, and the useful life of the asset in years to determine the depreciation charge.

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