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.

  1. 👍
  2. 👎
  3. 👁
  4. ℹ️
  5. 🚩
  1. 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

    1. 👍
    2. 👎
    3. ℹ️
    4. 🚩

Respond to this Question

First Name

Your Response

Similar Questions

  1. Accounting

    As of January 1 of the current year, the Grackle Company had accounts receivables of $50,000. The sales for January, February, and March were as follows: $120,000, $140,000 and $150,000. 20% of each month’s sales are for cash.

  2. science

    Which machine has the highest efficiency? machine/ output work (j)/ input work (j) A 750 1,500 B 1,000 4,000 C 450 600 D 3,000 5,000 machine C

  3. Math

    Oaktree Company purchased a new machine and made the following expenditures: Purchase price $45,000 Sales tax 2,200 Freight charges for shipment of machine 700 Insurance on the machine for the first year 900 Installation of

  4. Precalculus

    ool and die company buys a machine for $175,000 and it depreciates at a rate of 30% per year. (In other words, at the end of each year the depreciated value is 70% of what it was at the beginning of the year.) Find the depreciated

  1. math

    Jay Corp. bought a machine for $15,000. The machine is expected to produce 10,000 units. The machine has a residual value of $5,000. Assuming the machine produces 400 units during Year 1, what should the depreciation expense be?

  2. finance

    New project analysis You must evaluate a proposal to buy a new milling machine. The base price is $108,000, and shipping and installation costs would add another $12,500. The machine falls into the MACRS 3-year class, and it would

  3. accounting

    On January 1, 2012, Lexmark Company's Accounts receivable account had a debit balance of $10,000. During January, 2012, the company billed customers for services in the amount of $300,000. Also during January, the company

  4. Accounting

    Janes Company provided the following information on intangible assets: a. A patent was purchased from the lou Company for $700,000 on January 1, 2007. Janes estimated the remaining useful life of the patent to be 10 years. The

  1. accounting

    On January 1, 2006, Powell Company purchased a building and machinery that have the following useful lives, salvage value, and costs. Building, 25-year estimated useful life, $4,000,000 cost, $400,000 salvage value Machinery,

  2. Business Math

    Jim Company bought a machine for $36,000with an estimated lofe of 5 years. The residual value of the machine is $6,000 Calculate (a) the annual depreciation and (b) the book value at the end of year 3. Assume straight-line

  3. accounting

    Kiddy Toy Corporation needs to acquire the use of a machine to be used in its manufacturing process. The machine needed is manufactured by Lollie Corp. The machine can be used for 10 years and then sold for $11,000 at the end of

  4. 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

View more similar questions or ask a new question.