2. Prepare a depreciation schedule for four years using the double-declining-balance metho only two years.) (Do not round your intermediate calculations.) CHEETAH CОPY Depreciation Schedule-Double-Declining-Balance End of Year Amounts Depreciation Expense Accumulated Year Book Value Depreciation 2$ 50,000 2$ 50,000 2$ 50,000 25,000 75,000 25,000 3. 4.
2. Prepare a depreciation schedule for four years using the double-declining-balance metho only two years.) (Do not round your intermediate calculations.) CHEETAH CОPY Depreciation Schedule-Double-Declining-Balance End of Year Amounts Depreciation Expense Accumulated Year Book Value Depreciation 2$ 50,000 2$ 50,000 2$ 50,000 25,000 75,000 25,000 3. 4.
Financial Accounting: The Impact on Decision Makers
10th Edition
ISBN:9781305654174
Author:Gary A. Porter, Curtis L. Norton
Publisher:Gary A. Porter, Curtis L. Norton
Chapter8: Operating Assets: Property, Plant, And Equipment, And Intangibles
Section: Chapter Questions
Problem 8.5E: Change in Estimate Assume that Bloomer Company purchased a new machine on January 1, 2016, for...
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Can you tell me why this keeps saying that the answer is incomplete? I’ve already depreciated the asset down to its residual value.
Transcribed Image Text:Problem 7-5B Part 2
2. Prepare a depreciation schedule for four years using the double-declining-balance metho
only two years.) (Do not round your intermediate calculations.)
CHEETAH COPY
Depreciation Schedule-Double-Declining-Balance
End of Year Amounts
Depreciation
Expense
Accumulated
Year
Book Value
Depreciation
1
2$
50,000
2$
50,000
2$
50,000
2
25,000
75,000
25,000
4
Total
2$
75,000
![Required information
Problem 7-5B Determine depreciation under three methods (LO7-4)
[The following information applies to the questions displayed below.]
Cheetah Copy purchased a new copy machine. The new machine cost $100,000 including installation. The company
estimates the equipment will have a residual value of $25,000. Cheetah Copy also estimates it will use the machine for
four years or about 8,000 total hours. Actual use per year was as follows:
Year
Hours Used
1
3,000
2,000
1,200
2,800
3
Problem 7-5B Part 2
2. Prepare a depreciation schedule for four years using the double-declining-balance method. (Hint: The asset will be depreciated in
only two years.) (Do not round your intermediate calculations.)
CHEETAH COPY
Depreciation Schedule-Double-Declining-Balance
End of Year Amounts
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Transcribed Image Text:Required information
Problem 7-5B Determine depreciation under three methods (LO7-4)
[The following information applies to the questions displayed below.]
Cheetah Copy purchased a new copy machine. The new machine cost $100,000 including installation. The company
estimates the equipment will have a residual value of $25,000. Cheetah Copy also estimates it will use the machine for
four years or about 8,000 total hours. Actual use per year was as follows:
Year
Hours Used
1
3,000
2,000
1,200
2,800
3
Problem 7-5B Part 2
2. Prepare a depreciation schedule for four years using the double-declining-balance method. (Hint: The asset will be depreciated in
only two years.) (Do not round your intermediate calculations.)
CHEETAH COPY
Depreciation Schedule-Double-Declining-Balance
End of Year Amounts
< Prev
Next >
of 8
FEB
24
30
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