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Required information [The following information applies to the questions displayed below.] Cheetah Copy purchased a new copy machine. The new machine cost $140,000 including installation. The company estimates the equipment will have a residual value of $35,000. 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 2,000 2,000 2. 3. 4. 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.) Answer is complete but not entirely correct. CHEETAH COPY Depreciation Schedule-Double-Declining-Balance End of Year Amounts Denreciation Accumulated ... 10 of 13 Next >

Required information [The following information applies to the questions displayed below.] Cheetah Copy purchased a new copy machine. The new machine cost $140,000 including installation. The company estimates the equipment will have a residual value of $35,000. 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 2,000 2,000 2. 3. 4. 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.) Answer is complete but not entirely correct. CHEETAH COPY Depreciation Schedule-Double-Declining-Balance End of Year Amounts Denreciation Accumulated ... 10 of 13 Next >

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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O Connect O Connect cation.com/ext/map/index.html?_con3con&external_browser=D0&launchUrl=https%253A%252F%252Fnewconnect.mheducation.com%252F#/activity/q be Connect - Sign In Course Home AA Dashboard C Crunchyroll - Watch.. N Netflix O Registration | Merc. Saved Check my work mode : This shows what is correct or incorrect for the work you have completed so far. It does not indica Required information [The following information applies to the questions displayed below.) Cheetah Copy purchased a new copy machine. The new machine cost $140,000 including installation. The company estimates the equipment will have a residual value of $35,000. 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: Hours Used 3,000 2,000 2,000 2,000 Year 2. 3. 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.) X Answer is complete but not entirely correct. CHEETAH COPY Depreciation Schedule-Double-Declining-Balance End of Year Amounts Depreciation Accumulated < Prey 9. 10 of 13 Next > -search 00
Transcribed Image Text:O Connect O Connect cation.com/ext/map/index.html?_con3con&external_browser=D0&launchUrl=https%253A%252F%252Fnewconnect.mheducation.com%252F#/activity/q be Connect - Sign In Course Home AA Dashboard C Crunchyroll - Watch.. N Netflix O Registration | Merc. Saved Check my work mode : This shows what is correct or incorrect for the work you have completed so far. It does not indica Required information [The following information applies to the questions displayed below.) Cheetah Copy purchased a new copy machine. The new machine cost $140,000 including installation. The company estimates the equipment will have a residual value of $35,000. 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: Hours Used 3,000 2,000 2,000 2,000 Year 2. 3. 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.) X Answer is complete but not entirely correct. CHEETAH COPY Depreciation Schedule-Double-Declining-Balance End of Year Amounts Depreciation Accumulated < Prey 9. 10 of 13 Next > -search 00
Course Home Dashboard Crunchyroll Watch. ouTube Connect - Sign In Saved Check my work mode : This shows what is correct or incorrect for the L 2,000 2. Prepare a depreciation schedule for four years using the double-declining-balanc only two years.) (Do not round your intermediate calculations.) Answer is complete but not entirely correct. CHEETAH COPY Depreciation Schedule-Double-Declining-Balance End of Year Amounts Accumulated Depreciation Expense Book Value Year Depreciation 84,000 X 56,000 X S 33,600 X 56,000 X $ 1 89,600 X 50,400 X 2 20,160 X 109,760 X 30,240 X 3. 4. 12,096 X 121,856 X 18,184 X Total 2$ 121,856 < Prev 6. 10 ere to search
Transcribed Image Text:Course Home Dashboard Crunchyroll Watch. ouTube Connect - Sign In Saved Check my work mode : This shows what is correct or incorrect for the L 2,000 2. Prepare a depreciation schedule for four years using the double-declining-balanc only two years.) (Do not round your intermediate calculations.) Answer is complete but not entirely correct. CHEETAH COPY Depreciation Schedule-Double-Declining-Balance End of Year Amounts Accumulated Depreciation Expense Book Value Year Depreciation 84,000 X 56,000 X S 33,600 X 56,000 X $ 1 89,600 X 50,400 X 2 20,160 X 109,760 X 30,240 X 3. 4. 12,096 X 121,856 X 18,184 X Total 2$ 121,856 < Prev 6. 10 ere to search
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