C intranet euruni net/imod/tumitintotwo/view phplid-345060 Part 1 Start Date Due

Question

C intranet euruni net/imod/tumitintotwo/view phplid-345060 Part 1 Start Date Due Date Post Date Marks Available Assignment W8 Depreciation (Part ) Summary On April 8, 2010, Dreamland Park purchased a ferris wheel for $300,000. The estimated life of the ferris wheel was 10 years, with an estimated residual value of $60,000. The service life in 18 Mar 2018-2359 15 Apr 2018-0001 5 Apr 2018-00.00 100 terms of output is estimated at 30,000 hours of operation Compute the depreciation on this ferris wheel in 2010 and 2011 using the following methods 2010 2011 (2,600 in 2010 and 6.000 in 2011) to the

Explanation / Answer

2010 2011 a Straight-line $12,000 $24,000 Year 1: [($300,000 - $60,000) x 1/10 x 1/2] Year 2:($240,000 x 1/10) b 200%-declining-balance $ 30,000 $ 54,000 Year 1:($300,000 x 20% x 1/2) Year 2:[($300,000 - $30,000) x 20%] c 150%-declining-balance $ 22,500 $41,625 Year 1:($300,000 x 15% x 1/2) Year 2:[($300,000 - $22,500) x 15%] d Units-of-output $ 20,800 $ 48,000 Year 1:[($300,000 - $60,000) x 2,600/30,000] Year 2:[($300,000 - $60,000) x 6,000/30,000] e Straight-line $ 18,000 $24,000 Year 1:[($300,000 - $60,000) x 1/10 x 9/12] Year 2:($300,000 - $60,000) x 1/10

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