Asked by Anonymous
Assignment Exercise: Inventory and Depreciation Concepts
Assume that an organization purchased two pieces of equipment on April 1st (the first day of its fiscal year), as follows:
(1) One laboratory equipment that cost $530,000 and has an expected life of 8 years. The salvage value is 10 percent of the cost. No equipment was traded in on this purchase.
(2) One radiology equipment that cost $675,000 and has an expected life of 6 years. The salvage value is 15 percent of the cost. No equipment was traded in on this purchase.
Your Tasks
For each piece of equipment:
1. Compute the straight-line depreciation for:
a) The lab equipment
b) The radiology equipment
2. Compute the double declining balance depreciation for:
a) The lab equipment
b) The radiology equipment
Does anyone know the steps, into solution?
Assume that an organization purchased two pieces of equipment on April 1st (the first day of its fiscal year), as follows:
(1) One laboratory equipment that cost $530,000 and has an expected life of 8 years. The salvage value is 10 percent of the cost. No equipment was traded in on this purchase.
(2) One radiology equipment that cost $675,000 and has an expected life of 6 years. The salvage value is 15 percent of the cost. No equipment was traded in on this purchase.
Your Tasks
For each piece of equipment:
1. Compute the straight-line depreciation for:
a) The lab equipment
b) The radiology equipment
2. Compute the double declining balance depreciation for:
a) The lab equipment
b) The radiology equipment
Does anyone know the steps, into solution?
Answers
Answered by
Anonymous
I tried solving it like does percentage come first or after?
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