accounting

posted by .

A company purchased a machine on January 1 of the current year for $750,000. Calculate the annual depreciation expense for each year of the machine's life (estimated at 5 years or 20,000 hours, with a salvage value of $75,000). During the machine's 5-year life its hourly usage was: 3,000; 4,000; 5,000; 5,000; and 3,000 hours.

  • accounting -

    A company purchased a machine on Jan 1 of the current year of $750

    Calculate the annual depreciation expense for each year of the machine's life

    (estimated at 5 years or 20,000 hours, with a residual value of $750000) During the machine's 5 years life its hourly usage was : 5000 : 3000 : 4000 : 2000 and 6000 hours

Respond to this Question

First Name
School Subject
Your Answer

Similar Questions

  1. Accounting

    On January 1, 2006, Mythical purchased some office equipment, paying $24,000. It is anticipated that the equipment will last 4 years and have a zero salvage value at the end of the four years. 1) Make the adjusting entry for depreciation …
  2. accounting

    On January 1, 2004, Carnival Shipping bought a machine for $1,500,000. At that time, this machine had an estimated useful life of six years, with no salvage value. As a result of additional information, Carnival determined on January …
  3. accounting

    How do i calculate this problem. An asset was purchased for $150,000. It had an estimated salvage value of $30,000 and an estimated useful life of 10 years. After 5 years of use, the estimated salvage value is revised to $24,000 but …
  4. Accounts

    The following details relates to the two machines X and Y: Machine X Machine Y Cost Estimated Life Estimated salvage value Working Capital required in the beginning Rs. 56,125 Rs.56,125 5 years 5 years Rs. 3,000 Rs. 3,000 Rs.10,000 …
  5. math

    using problem 17-21 calculate the first 2 years depreciation assuming the units of production method. this machine is expceted to produce 120,000 units. in year 1 it produced 19,000 units and in year 2 38,000 units problem 17-21 Jim …
  6. math

    using problem 17-21 calculate the first 2 years depreciation assuming the units of production method. this machine is expceted to produce 120,000 units. in year 1 it produced 19,000 units and in year 2 38,000 units problem 17-21 Jim …
  7. financial accounting

    eckman company purchased equipment for $80,000 on january 1,2011 and will use the double declining balance method of depreciation. it is estimated that the equipment will have a 5 year life and a $4,000 salvage value at the end of …
  8. accounting

    1-On May 1, 2012, Pinkley Company sells office furniture for $150,000 cash. The office furniture originally cost $375,000 when purchased on January 1, 2005. Depreciation is recorded by the straight-line method over 10 years with a …
  9. accounting

    A company purchased and installed a machine on January 1 at a total cost of $72,000. Straight-line depreciation was calculated based on the assumption of a five-year life and no salvage value. The machine was disposed of on July 1 …
  10. acounting

    A company purchased and installed a machine on January 1 at a total cost of $72,000. Straight-line depreciation was calculated based on the assumption of a five-year life and no salvage value. The machine was disposed of on July 1 …

More Similar Questions