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  • Instructions: Record The Depreciation Expense For Year 2010

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    DuPage Company purchased a factory machine for $18,000 that had a salvage value of $2,000 and useful life of 4 years or 160,000 hours of use. Actual annual hours of use were: 2010 - 40,000 hours, 2011 - 60,000 hours, 2012 - 35,000 hours, and 2013 - 25,000 hours. The summary asks to prepare depreciation schedules using the straight-line, units-of-activity, and declining-balance methods and record the 2010 depreciation expense.

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    DuPage Company purchased a factory machine for $18,000 that had a salvage value of $2,000 and useful life of 4 years or 160,000 hours of use. Actual annual hours of use were: 2010 - 40,000 hours, 2011 - 60,000 hours, 2012 - 35,000 hours, and 2013 - 25,000 hours. The summary asks to prepare depreciation schedules using the straight-line, units-of-activity, and declining-balance methods and record the 2010 depreciation expense.

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    18 views2 pages

    Instructions: Record The Depreciation Expense For Year 2010

    Uploaded by

    sara
    DuPage Company purchased a factory machine for $18,000 that had a salvage value of $2,000 and useful life of 4 years or 160,000 hours of use. Actual annual hours of use were: 2010 - 40,000 hours, 2011 - 60,000 hours, 2012 - 35,000 hours, and 2013 - 25,000 hours. The summary asks to prepare depreciation schedules using the straight-line, units-of-activity, and declining-balance methods and record the 2010 depreciation expense.

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    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
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    Financial accounting Classwork 3 plant asset and depreciation methods

    1- DuPage Company purchases a factory machine at a cost of $18,000 on January 1, 2010.


    DuPage expects the machine to have a salvage value of $2,000 at the end of its 4-year
    useful life. During its useful life, the machine is expected to be used 160,000 hours.
    Actual annual hourly use was: 2010, 40,000; 2011, 60,000; 2012, 35,000; and 2013,
    25,000.
    Instructions: Prepare depreciation schedules for the following methods: (a) straight-line,
    (b) units-of-activity, and (c) declining-balance using double the straight-line rate.
    Record the depreciation expense for year 2010

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