Compute the book value and the balance

Feb 24th, 2015
Steve1995
Category:
Accounting
Price: $10 USD

Question description

The Remove-U-Tattoo Clinic purchased a surgical laser for $84,000 on January 1, 2014.  The estimated salvage value is $4,000.  The laser has a useful life of five years and the clinic expects to use it 10,000 hours. 

It was used for 900 hours in 2014; 2,100 hours in 2015; 2,400 hours in 2016. 

Instructions 

Showing all of your computations, compute the book value and the balance in the Accumulated Depreciation Account for December 31, 2015 under each of the following three methods after the depreciation for 2015 has been recorded:   

(1)  Straight-line: 

2015 accumulated depreciation ____________________ 

     2015 book value ____________________ 

(2)  Units-of-activity: 

     2015 accumulated depreciation ____________________   

  2015 book value ____________________ 

(3)  Double-declining balance: 

2015 accumulated depreciation ____________________

2015 book value ____________________

Tutor Answer

(Top Tutor) Daniel C.
(997)
School: University of Maryland
PREMIUM TUTOR

Studypool has helped 1,244,100 students

8 Reviews


Summary
Quality
Communication
On Time
Value
pmallory
Dec 8th, 2016
" Totally impressed with results!! :-) "
mixedballz
Nov 29th, 2016
" excellent work as always thanks for the help "
Five Star Tutor
Nov 25th, 2016
" Outstanding Job!!!! "
kiln82
Nov 15th, 2016
" awesome work thanks "
darnay
Nov 6th, 2016
" The best tutor out there!!!! "
likeplum4
Nov 2nd, 2016
" Excellent work as usual "
kpcutie
Oct 10th, 2016
" Excellent job "
Joemoe
Oct 1st, 2016
" <3 it, thanks for saving me time. "
Ask your homework questions. Receive quality answers!

Type your question here (or upload an image)

1831 tutors are online

Brown University





1271 Tutors

California Institute of Technology




2131 Tutors

Carnegie Mellon University




982 Tutors

Columbia University





1256 Tutors

Dartmouth University





2113 Tutors

Emory University





2279 Tutors

Harvard University





599 Tutors

Massachusetts Institute of Technology



2319 Tutors

New York University





1645 Tutors

Notre Dam University





1911 Tutors

Oklahoma University





2122 Tutors

Pennsylvania State University





932 Tutors

Princeton University





1211 Tutors

Stanford University





983 Tutors

University of California





1282 Tutors

Oxford University





123 Tutors

Yale University





2325 Tutors