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slamgirl [31]
3 years ago
13

Exercise 9-5 Sandhill Co. purchased a new machine on October 1, 2017, at a cost of $80,010. The company estimated that the machi

ne has a salvage value of $7,280. The machine is expected to be used for 72,400 working hours during its 7-year life. Compute the depreciation expense under the straight-line method for 2017 and 2018, assuming a December 31 year-end. (
Business
1 answer:
Dovator [93]3 years ago
4 0

Answer:

2017 = $2,598 and 2018 = $10,390

Explanation:

The computation of the depreciation expense for the second year is shown below:

= (Original cost - residual value) ÷ (useful life)

= ($80,010 - $7,280) ÷ (7 years)

= ($72,730) ÷ (7 years)  

= $10,390

In this method, the depreciation is same for all the remaining useful life

For 2017, the depreciation expense would be

= $10,390 × 3 months ÷ 12 months

= $2,598

The three months is calculated from the October 1, 2017, to December 31, 2017

And, in 2018 it would be $10,390

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