Assume Organic Ice Cream Company, Inc., bought a new ice cream production kit (pasteurizer/homogenizer, cooler, aging vat, freezer, and filling machine) at the beginning of the year at a cost of $20,000. The estimated useful life was four years, and the residual value was $2,180. Assume that the estimated productive life of the machine was 9.900 hours. Actual annual usage was 3,960 hours in Year 1: 2,970 hours in Year 2: 1,980 hours in Year 3; and 990 hours in Year 4. Required: 1. Complete a separate depreciation schedule for each of the alternative methods. a. Straight-line. b. Units-of-production. c. Double-declining-balance. Complete this question by entering your answers in the tabs below. Reg 1A Req 18 Req 1C Complete a depreciation schedule using the Straight-line method. (Do not round intermediate calculations.) Net Depreciation Accumulated Expense Depreciation Book Value Year At acquisition 1 2 3 4

Assume Organic Ice Cream Company, Inc., bought a new ice cream production kit (pasteurizer/homogenizer, cooler, aging vat, freezer, and filling machine) at the beginning of the year at a cost of $20,000. The estimated useful life was four years, and the residual value was $2,180. Assume that the estimated productive life of the machine was 9.900 hours. Actual annual usage was 3,960 hours in Year 1: 2,970 hours in Year 2: 1,980 hours in Year 3; and 990 hours in Year 4. Required: 1. Complete a separate depreciation schedule for each of the alternative methods. a. Straight-line. b. Units-of-production. c. Double-declining-balance. Complete this question by entering your answers in the tabs below. Reg 1A Req 18 Req 1C Complete a depreciation schedule using the Straight-line method. (Do not round intermediate calculations.) Net Depreciation Accumulated Expense Depreciation Book Value Year At acquisition 1 2 3 4

Name: M 19 Assume Organic Ice Cream Company, Inc., bought a new ice cream pr
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Description: M 19 Assume Organic Ice Cream Company, Inc., bought a new ice cream production kit (pasteurizer/homogenizer, cooler, aging vat, freezer,and filling machine) at the beginning of the year at a cost of $20,000. The estimated useful life was four years,

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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