Calculate the annual depreciation allowances

Assignment Help Accounting Basics

Reference no: EM131032571

A piece of newly purchased industrial equipment costs $975,000 and is classified as seven-year property under MACRS. The MACRS depreciation schedule is shown in Table 10.7. Calculate the annual depreciation allowances and end-of-the-year book values for this equipment. (Leave no cells blank - be certain to enter "0" wherever required. Round your answers to 2 decimal places. (e.g., 32.16))

Table 10.7

Table 10.7	(BLANK)	(BLANK)	(BLANK)
Property Class	(BLANK)	(BLANK)	(BLANK)
Year	Three-Year	Five-Year	Seven-Year
1	33.33%	20.00%	14.29%
2	44.45	32	24.29
3	14.81	19.20	17.49
4	7.41	11.52	12.49
5	(BLANK)	11.52	8.93
6	(BLANK)	5.76	8.92
7	(BLANK)	(BLANK)	8.93
8	(BLANK)	(BLANK)	4.46

Please complete the following table.

Year	Beg. Book Value	Depreciation	Ending Book Value
1	$______	$______	$______
2	$______	$______	$______
3	$______	$______	$______
4	$______	$______	$______
5	$______	$______	$______
6	$______	$______	$______
7	$______	$______	$______
8	$______	$______	$0.00

Reference no: EM131032571

Questions Cloud

What to do with four million newly freed slaves : Institute at least 5 policies to deal with the new freed slaves, keeping in mind most of them are uneducated, poor, and without their own land or equipment to work it.

Estimating the probability of a head : 1. What is the probability that it falls with heads upward? Make at least 50 trials to estimate the probability of a head.

What limitations are evident in cera performance : What limitations are evident in CERA's performance management system? Support your argument using relevant sources. Recommend two alternative measurement approaches that you believe could work in CERA. Justify your suggestions using relevant sources

Discuss the problem of the euro : (1) Discuss the problem of the Euro. (2). Keynes and Hayek's . Explain comparing and contrasting the 2 ideology.

Calculate the annual depreciation allowances : A piece of newly purchased industrial equipment costs $975,000 and is classified as seven-year property under MACRS. The MACRS depreciation schedule is shown in Table 10.7.

Possible arrangements of girls and boys : Birth order. A couple plans to have three children. There are 8 possible arrangements of girls and boys. For example, GGB means the first two children are girls and the third child is a boy. All 8 arrangements are (approximately) equally likely.

Draw on research from the textbook or another resource : Discuss if the people's responses fit with the text's discussion of the bystander effect. If your demonstration did not work out, explain why you think it might not have.

What is the arithmetic average return : Home Grown Grains stock returned 28.7 percent, 2.6 percent, 13.1 percent, and 11.8 percent over the past four years, respectively. What is the arithmetic average return for this period?

Describe the considerations for leading multicultural teams : Provide information on cultural norms from each of the clusters to be visited. (Make sure to use specific information from the GLOBE study.) Describe the leadership approaches preferred in the clusters that will be visited.

User Account

All Pages