 |
|
| Browse | Ask | Answer | Search | Join/Login |
|
|
||||
|
200%-declining balance with half year convention
On April8, 2010, Dreamland Park purchased a ferris wheel for $300,000. The estimated life of the ferris wheel was 10 years, with an estimated residual vale of $60,000. The service life in terms of output is estimated 30,000 hours of operation Compute the deprecition on this ferrs wheel in 2010 and 2011 using the following methods.
A) straight line with half year convention B) 200% delining balance with half year convention C) 150% declining balance with half year conventiion D) Units of output method ( hours of operation: 2600 in 2010, and 6,000 in 2011 E) Straight line with depreciation calculateed to the nearest whole month |
||||
Check out some similar questions!
Swanson & Hiller, Inc. purchased a new machine on September 1, 2006, at a cost of $108,000. The machine's estimated useful life at the time of the purchase was 5 years and its salvage value was $8,000. Prepare a depreciation schedule using 200% declining-balance method.
Declining balance depreciation On July 6, 2007, Bennington purchased new machinery with an estimated useful life of 10 years. Cost of the equipment was $50,000, with a residual value of $5,000. Compute the depreciation on this machinery in 2007 and 2008 using each of the following methods.
On August 3, Srini Construction purchased special-purpose equipment at a cost of $1,000,000. The useful life of the equipment was estimated to be 8 years, with a residual value of $50,000. Compute the depreciation expense to be recognized each calendar year for financial reporting purposes...
View more questions Search
| Question Tools | Search this Question |
Add your answer here.
|
