
On January 1,
2011, Munoz Co. purchased machinery. The machinery has an estimated
useful life of eight years and an estimated salvage value of
$2,703. The depreciation applicable to this machinery was $31,845
for 2013, computed by the sumoftheyears'digits method. The
acquisition cost of the machinery was
(rounding
hint: if you convert a fraction to a decimal, don't round it when
going forward to use it in any calculations. For example, if 32/55
= .581818181818181...leave all those decimals in your...

Flounder Company purchased machinery on January 1, 2017, for
$88,800. The machinery is estimated to have a salvage value of
$8,880 after a useful life of 8 years.
Compute 2017 depreciation expense using the straightline
method.
Depreciation expense
$
Compute 2017 depreciation expense using the straightline method
assuming the machinery was purchased on September 1, 2017.
Depreciation expense
$

Machinery purchased for $69,600 by Tamarisk Co. in 2016 was
originally estimated to have a life of 8 years with a salvage value
of $4,640 at the end of that time. Depreciation has been entered
for 5 years on this basis. In 2021, it is determined that the total
estimated life should be 10 years with a salvage value of $5,220 at
the end of that time. Assume straightline depreciation.
Prepare the entry to correct the prior years' depreciation, if...

Novak Company purchased machinery on
January 1, 2017, for $97,600. The machinery is estimated to have a
salvage value of $9,760 after a useful life of 8 years. Compute
2017 depreciation expense using the doubledecliningbalance
method. Depreciation expense $ LINK TO TEXT Compute 2017
depreciation expense using the doubledecliningbalance method,
assuming the machinery was purchased on October 1, 2017. (Round
answer to 0 decimal places, e.g. 5,125.) Depreciation expense $
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Pina Company purchased machinery for $176,400 on January 1,
2017. It is estimated that the machinery will have a useful life of
20 years, salvage value of $14,700, production of 91,400 units, and
working hours of 40,900. During 2017, the company uses the
machinery for 11,452 hours, and the machinery produces 11,882
units. Compute depreciation under the straightline,
unitsofoutput, working hours, sumoftheyears’digits, and
doubledecliningbalance methods. (Round intermediate
calculations to 5 decimal places, e.g. 1.56487 and final answers to
0 decimal...

Machinery purchased for $69,000 by Vaughn Co. in 2016 was originally estimated to have a life of 8 years with a salvage value of $4,600 at the end of that time. Depreciation has been entered for 5 years on this basis. In 2021, it is determined that the total estimated life should be 10 years with a salvage value of $5,175 at the end of that time. Assume straightline depreciation. Prepare the entry to correct the prior years' depreciation, if...

Machinery purchased for $74,400 by Splish Co. in 2016 was originally estimated to have a life of 8 years with a salvage value of $4,960 at the end of that time. Depreciation has been entered for 5 years on this basis. In 2021, it is determined that the total estimated life should be 10 years with a salvage value of $5,580 at the end of that time. Assume straightline depreciation. Prepare the entry to correct the prior years' depreciation, if...

Machinery purchased for $72,600 by Kingbird Co. in 2016 was originally estimated to have a life of 8 years with a salvage value of $4,840 at the end of that time. Depreciation has been entered for 5 years on this basis. In 2021, it is determined that the total estimated life should be 10 years with a salvage value of $5,445 at the end of that time. Assume straightline depreciation. Prepare the entry to correct the prior years' depreciation, if...

Machinery purchased for $64.800 by Windsor Co. in 2016 was originally estimated to have a life of 8 years with a salvage value of $4.320 at the end of that time. Depreciation has been entered for 5 years on this basis. In 2021, it is determined that the total estimated life should be 10 years with a salvage value of $4,860 at the end of that time. Assume straightline depreciation. Prepare the entry to correct the prior years' depreciation, if...

Machinery purchased for $67,200 by Coronado Co. in 2016 was originally estimated to have a life of 8 years with a salvage value of $4,480 at the end of that time. Depreciation has been entered for 5 years on this basis. 2021, it is determined that the total estimated life should be 10 years with a salvage value of $5,040 at the end of that time. Assume straightline depreciation. Prepare the entry to correct the prior years' depreciation, if necessary....