Westonci.ca is your trusted source for finding answers to a wide range of questions, backed by a knowledgeable community. Discover in-depth answers to your questions from a wide network of professionals on our user-friendly Q&A platform. Join our Q&A platform to connect with experts dedicated to providing accurate answers to your questions in various fields.
Sagot :
Let's walk through the completion of this depreciation schedule step by step.
### Understanding the Entries
- Depreciation Expense: The amount by which the asset depreciates each year.
- Accumulated Depreciation: The total depreciation to date.
- Book Value: The value of the asset after accounting for depreciation.
From the problem statement, we see the following results:
1. Depreciation Expense per Year: [tex]$21,375$[/tex]
2. Initial Book Value: [tex]$94,500$[/tex]
3. Total Depreciation over 4 Years: [tex]$85,500 ### Year-by-Year Breakdown Year 1: - Depreciation Expense: $[/tex]21,375[tex]$ - Accumulated Depreciation: $[/tex]21,375[tex]$ - Book Value: $[/tex]92,625[tex]$ (starts with $[/tex]94,500[tex]$ and subtracts $[/tex]21,375[tex]$) Year 2: - Depreciation Expense: $[/tex]21,375[tex]$ - Accumulated Depreciation: $[/tex]21,375 (from Year 1) + [tex]$21,375 (Year 2) = $[/tex]42,750
- Book Value: [tex]$71,250$[/tex] ([tex]$92,625$[/tex] - [tex]$21,375$[/tex])
Year 3:
- Depreciation Expense: [tex]$21,375$[/tex]
- Accumulated Depreciation: [tex]$42,750 (from Year 2) + $[/tex]21,375 (Year 3) = [tex]$64,125 - Book Value: $[/tex]49,875[tex]$ ($[/tex]71,250[tex]$ - $[/tex]21,375[tex]$) Year 4: - Depreciation Expense: $[/tex]21,375[tex]$ - Accumulated Depreciation: $[/tex]64,125 (from Year 3) + [tex]$21,375 (Year 4) = $[/tex]85,500
- Book Value: [tex]$28,500$[/tex] ([tex]$49,875$[/tex] - [tex]$21,375$[/tex])
Total:
- Total Depreciation: [tex]$85,500$[/tex]
### Completion of the Table
[tex]\[ \begin{array}{|c|c|c|c|c|c|c|} \hline \multicolumn{7}{|c|}{\text{ONE STOP COPY}} \\ \hline \multicolumn{7}{|c|}{\text{Depreciation Schedule - Activity-Based}} \\ \hline \multicolumn{7}{|c|}{\text{End of Year Amounts}} \\ \hline \text{Year} & \multicolumn{2}{|c|}{\text{Depreciation Expense}} & \multicolumn{2}{|c|}{\text{Accumulated Depreciation}} & \multicolumn{2}{|c|}{\text{Book Value}} \\ \hline 1 & \$ & 21,375 & \$ & 21,375 & \$ & 92,625 \\ \hline 2 & \$ & 21,375 & \$ & 42,750 & \$ & 71,250 \\ \hline 3 & \$ & 21,375 & \$ & 64,125 & \$ & 49,875 \\ \hline 4 & \$ & 21,375 & \$ & 85,500 & \$ & 28,500 \\ \hline \text{Total} & \$ & 85,500 & & & & \\ \hline \end{array} \][/tex]
This table now correctly reflects the depreciation schedule over the four years for the initial asset value of [tex]$94,500 with an annual depreciation expense of $[/tex]21,375.
### Understanding the Entries
- Depreciation Expense: The amount by which the asset depreciates each year.
- Accumulated Depreciation: The total depreciation to date.
- Book Value: The value of the asset after accounting for depreciation.
From the problem statement, we see the following results:
1. Depreciation Expense per Year: [tex]$21,375$[/tex]
2. Initial Book Value: [tex]$94,500$[/tex]
3. Total Depreciation over 4 Years: [tex]$85,500 ### Year-by-Year Breakdown Year 1: - Depreciation Expense: $[/tex]21,375[tex]$ - Accumulated Depreciation: $[/tex]21,375[tex]$ - Book Value: $[/tex]92,625[tex]$ (starts with $[/tex]94,500[tex]$ and subtracts $[/tex]21,375[tex]$) Year 2: - Depreciation Expense: $[/tex]21,375[tex]$ - Accumulated Depreciation: $[/tex]21,375 (from Year 1) + [tex]$21,375 (Year 2) = $[/tex]42,750
- Book Value: [tex]$71,250$[/tex] ([tex]$92,625$[/tex] - [tex]$21,375$[/tex])
Year 3:
- Depreciation Expense: [tex]$21,375$[/tex]
- Accumulated Depreciation: [tex]$42,750 (from Year 2) + $[/tex]21,375 (Year 3) = [tex]$64,125 - Book Value: $[/tex]49,875[tex]$ ($[/tex]71,250[tex]$ - $[/tex]21,375[tex]$) Year 4: - Depreciation Expense: $[/tex]21,375[tex]$ - Accumulated Depreciation: $[/tex]64,125 (from Year 3) + [tex]$21,375 (Year 4) = $[/tex]85,500
- Book Value: [tex]$28,500$[/tex] ([tex]$49,875$[/tex] - [tex]$21,375$[/tex])
Total:
- Total Depreciation: [tex]$85,500$[/tex]
### Completion of the Table
[tex]\[ \begin{array}{|c|c|c|c|c|c|c|} \hline \multicolumn{7}{|c|}{\text{ONE STOP COPY}} \\ \hline \multicolumn{7}{|c|}{\text{Depreciation Schedule - Activity-Based}} \\ \hline \multicolumn{7}{|c|}{\text{End of Year Amounts}} \\ \hline \text{Year} & \multicolumn{2}{|c|}{\text{Depreciation Expense}} & \multicolumn{2}{|c|}{\text{Accumulated Depreciation}} & \multicolumn{2}{|c|}{\text{Book Value}} \\ \hline 1 & \$ & 21,375 & \$ & 21,375 & \$ & 92,625 \\ \hline 2 & \$ & 21,375 & \$ & 42,750 & \$ & 71,250 \\ \hline 3 & \$ & 21,375 & \$ & 64,125 & \$ & 49,875 \\ \hline 4 & \$ & 21,375 & \$ & 85,500 & \$ & 28,500 \\ \hline \text{Total} & \$ & 85,500 & & & & \\ \hline \end{array} \][/tex]
This table now correctly reflects the depreciation schedule over the four years for the initial asset value of [tex]$94,500 with an annual depreciation expense of $[/tex]21,375.
Thanks for using our service. We aim to provide the most accurate answers for all your queries. Visit us again for more insights. Thanks for stopping by. We strive to provide the best answers for all your questions. See you again soon. Find reliable answers at Westonci.ca. Visit us again for the latest updates and expert advice.