On January 1, 2021, the Allegheny Corporation purchased equipment for $162,000. The estimated service life of the equipment is 10 years and the estimated residual value is $8,000. The equipment is expected to produce 350,000 units during its life. Required: Calculate depreciation for 2021 and 2022 using each of the following methods. 3. Units of production (units produced in 2021, 47,000; units produced in 2022, 42,000). (Round "Depreciation per unit rate" answers to 2 decimal places.)
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “On January 1, 2021, the Allegheny Corporation purchased equipment for $162,000. The estimated service life of the equipment is 10 years and ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
Before the oil embargo, the price ceiling on gasoline had no noticeable effect on the market. What is the most likely explanation for this?
Answers (1)
Dividend growth rate is important to many investors. you are considering investing in a firm after looking at the firm's dividends over a seven-year period. at the end of the year 2002, the firm paid a dividend of $1.15.
Answers (1)
Brussels Enterprises issues bonds at par dated January 1, 2019, that have a $3,200,000 par value, mature in four years, and pay 9% interest semiannually on June 30 and December 31. 1. Record the entry for the issuance of bonds for cash on January 1.
Answers (1)
Structuring the Sell-or-Process-Further Decision Jack's Lumber Yard receives 8,000 large trees each period that it subsequently processes into rough logs by stripping off the tree bark and leaves.
Answers (1)
In 2014, Marie borrowed $10,000. In 2019, the debt was forgiven. Marie does not believe she should report the forgiveness of debt as income because she received nothing at the time the debt was forgiven in 2019.
Answers (2)
New Questions in Business
Motorcycle Manufacturers, Inc., projected sales of 57,400 machines for the year. The estimated January 1 inventory is 6,890 units, and the desired December 31 inventory is 7,240 units. The budgeted production for the year is?
Answers (1)
ewok enterprises recently elected the fair value option to account for its investment in yoda inc. ewok purchased the shares for 21000 and the shares are currently trading for 190000 at year end.
Answers (1)
The General Fund of a city pays all utility bills received from private companies for services provided to city agencies. It then bills other funds for their shares of the bills. On May 10, the General Fund pays an electric bill for $230,000.
Answers (1)
On November 10 of the current year, Flores Mills sold carpet to a customer for $8,500 with credit terms 2/10, n/30. Flores uses the gross method of accounting for sales discounts.
Answers (1)
The following information describes a company's usage of direct labor in a recent period: Actual direct labor hours used 40 comma 000 Actual rate per hour $ 12.00 Standard rate per hour $ 11.
Answers (1)