4 Supsoo ou eto the ee for s.000, hoseual vaue in s 0o. Thnen macohiei est years

Question

4 Supsoo ou eto the ee for s.000, hoseual vaue in s 0o. Thnen macohiei est years. Complete the d YearCost 0 t 4 schedule below using the declining-balance method Accumulated Depreciation(ending) Book (beginning) 2 3 5. Jose started a new dry cleaning business and bought a laundry machine for $15,000, which is expected to run a total of 10,000 loads of laundry. Further, you may assume that the machine has a residual value of $5,000. Assuming the machine runs 400 loads during ye ar 1, calculate its depreciation for the first year Suppose you took out a $80,000 fire insurance policy for your house at a rate of $,81 per $100) Sevena months later, suppose you decide to move to another town and so you cancel the policy. Calculate the refune you would receive under this scenario. 6. nol Morn

Explanation / Answer

4 calculation of the depreciation schedule depreciation (cost - salvage value ) / useful life of the asset (8000 - 1000 ) / 4 1750 1 2 3 4 5 6 year cost book value ( beginning ) depreciation accumulated depreciation book value ending ( 3 - 4 ) 0 8000 1 8000 8000 1750 1750 6250 2 8000 6250 1750 3500 4500 3 8000 4500 1750 5250 2750 4 8000 2750 1750 7000 1000

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