01 Jul ACC 537 (Depreciation For Partial Periods–SL, Act., SYD, And Declining-Balance) The Cost Of Equipment Purchased By Boyd, Inc., On June 1, 2014, Is $180,000. It Is Estimated That The Machine Will Have A $12,000 Salvage Value At The End Of Its Service Life
(Depreciation for Partial Periods–SL, Act., SYD, and Declining-Balance) The cost of equipment purchased by Boyd, Inc., on June 1, 2014, is $180,000. It is estimated that the machine will have a $12,000 salvage value at the end of its service life. Its service life is estimated at 7 years, its total working hours are estimated at 67,200, and its total production is estimated at 525,000 units. During 2014, the machine was operated 7,000 hours and produced 60,000 units. During 2015, the machine was operated 6,500 hours and produced 52,000 units.
Compute depreciation expense on the machine for the year ending December 31, 2014, and the year ending December 31, 2015, using the following methods.
- (a)Straight-line. PAGE 593
- (b)Units-of-output.
- (c)Working hours.
- (d)Sum-of-the-years’-digits. PAGE 594
- (e)Declining-balance (twice the straight-line rate). PAGE 594
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