e system was estimated to require a complete upgrade in five years to avoid obsolescenc ncurred for all items above. All of the above costs were subject to a 6% non-refundable p a training course was conducted for the staff that would be using the new equipment, a llows IFRS, and that any allocation of common costs is done to the nearest 1% (e.g. 80 % lo decides to capitalize the following components of the computer system: server equipm e amount to be capitalized for each of these asset groups. (Round percentage to O decimal p aces, eg. 5,275.) Cost
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- Nash Co, recently installed some new computer equipment. To prepare for the installation, Nash had some electrical work done in what was to become the server room, costing $20,600. The invoice price of the server equipment was $200,000. Three printers were also purchased at a cost of $1,900 each. The software for the system was an additional $46,200. The server equipment was believed to have a useful life of eight years, but due to the heavy anticipated usage, the printers were expected to have only a four-year useful life. The software to run the system was estimated to require a complete upgrade in five years to avoid obsolescence. Additionally, it cost $12.600 for delivery. All of the above costs were subject to a 6% non-refundable provincial sales tax. During the installation, a training course was conducted for the staff that would be using the new equipment, at a cost of $9,550. Assume that Nash follows IFRS, and that any allocation of common costs is done to the nearest 1%…Blossom Co. recently installed some new computer equipment. To prepare for the installation, Blossom had some electrical work done in what was to become the server room, costing $23,600. The invoice price of the server equipment was $200,000. Three printers were also purchased at a cost of $2,200 each. The software for the system was an additional $46,300. The server equipment was believed to have a useful life of eight years, but due to the heavy anticipated usage, the printers were expected to have only a four-year useful life. The software to run the system was estimated to require a complete upgrade in five years to avoid obsolescence. Additionally, delivery costs of $11,500 was incurred for all items above. All of the above costs were subject to a 6% non-refundable provincial sales tax. During the installation, a training course was conducted for the staff that would be using the new equipment, at a cost of $9,650. Assume that Blossom follows IFRS, and that any allocation of…Pearl Co. recently installed some new computer equipment. To prepare for the installation, Pearl had some electrical work done in what was to become the server room, costing $23,700. The invoice price of the server equipment was $191,000. Three printers were also purchased at a cost of $1,900 each. The software for the system was an additional $43,000. The server equipment was believed to have a useful life of eight years, but due to the heavy anticipated usage, the printers were expected to have only a four-year useful life. The software to run the system was estimated to require a complete upgrade in five years to avoid obsolescence. Additionally, delivery costs of $12,900 was incurred for all items above. All of the above costs were subject to a 6% non-refundable provincial sales tax. During the installation, a training course was conducted for the staff that would be using the new equipment, at a cost of $9,850. Assume that Pearl follows IFRS, and that any allocation of common…
- An electronics firm invested $60,000 in a precision inspection device. It cost $4000 to operate and maintain in the first year and $3000 in each of the subsequent years. At the end of 4 years, the firm changed their inspection procedure, eliminating the need for the device. The purchasing agent was very fortunate in being able to sell the inspection device for $60,000, the original price. The plant manager asks you to compute the equivalent uniform annual cost of the device during the 4 years it was used. Interest at 6% per year.University Car Wash built a deluxe car wash across the street from campus. The new machines cost $264,000 including installation. The company estimates that the equipment will have a residual value of $25,500. University Car Wash also estimates it will use the machine for six years or about 12,500 total hours. Actual use per year was as follows: Year Hours Used 1 2,900 2 1,300 3 1,400 4 2,600 5 2,400 6 1,900 Required: 1. Prepare a depreciation schedule for six years using the straight-line methodUniversity Car Wash built a deluxe car wash across the street from campus. The new machines cost $246,000 including installation. The company estimates that the equipment will have a residual value of $27,000. University Car Wash also estimates it will use the machine for six years or about 12,000 total hours. Actual use per year was as follows: Year Hours Used 1 2,800 2 1,900 3 2,000 4 2,000 5 1,800 6 1,500 2. Prepare a depreciation schedule for six years using the double-declining-balance method. (Do not round your intermediate calculations.)
- University Car Wash built a deluxe car wash across the street from campus. The new machines cost $246,000 including installation. The company estimates that the equipment will have a residual value of $27,000. University Car Wash also estimates it will use the machine for six years or about 12,000 total hours. Actual use per year was as follows: Year Hours Used 1 2,800 2 1,900 3 2,000 4 2,000 5 1,800 6 1,500 Problem 7-5A Part 1 Required: 1. Prepare a depreciation schedule for six years using the straight-line method. (Do not round your intermediate calculations.)University Car Wash built a deluxe car wash across the street from campus. The new machines cost $246,000 including installation. The company estimates that the equipment will have a residual value of $27,000. University Car Wash also estimates it will use the machine for six years or about 12,000 total hours. Actual use per year was as follows: Year Hours Used 1 2,800 2 1,900 3 2,000 4 2,000 5 1,800 6 1,500 Problem 7-5A Part 3 3. Prepare a depreciation schedule for six years using the activity-based method. (Round your "Depreciation Rate" to 2 decimal places and use this amount in all subsequent calculations.)Duluth Medico purchased a digital imageprocessing machine three years ago at a cost of$50,000. The machine had an expected life of eightyears at the time of purchase and an expected salvagevalue of $5,000 at the end of the eight years. Theold machine has been slow at handling the increasedbusiness volume, so management is consideringreplacing the machine. A new machine can be purchased for $75,000, including installation costs.Over its five-year life, the machine will reduce cashoperating expenses by $30,000 per year. Sales arenot expected to change. At the end of its useful life,the machine is estimated to be worthless. The oldmachine can be sold today for $10,000. The firm’sinterest rate for project justification is known to be15%. The firm does not expect a better machine(other than the current challenger) to be available forthe next five years. Assuming that the economic service life of the new machine, as well as the remaininguseful life of the old machine, is five years,(a)…
- University Car Wash built a deluxe car wash across the street from campus. The new machines cost $240,000 including installation. The company estimates that the equipment will have a residual value of $30,000. University Car Wash also estimates it will use the machine for six years or about 12,000 total hours. Actual use per year was as follows: Year Hours Used 1 2,600 2 2,100 3 2,200 4 1,800 5 1,600 6 1,700 1)Prepare a depreciation schedule for six years using the double-declining-balance method. 2)Prepare a depreciation schedule for six years using the activity-based methodUniversity Car Wash purchased new soap dispensing equipment that cost $234,000 including installation. The company estimates that the equipment will have a residual value of $27,000. University Car Wash also estimates it will use the machine for six years or about 12,000 total hours. Actual use per year was as follows: Year Hours Used 1 2,800 2 1,900 3 2,000 4 2,000 5 1,800 6 1,500 Required: 1. Prepare a depreciation schedule for six years using the straight-line method. (Do not round your intermediate calculations.)University Car Wash purchased new soap dispensing equipment that cost $234,000 including installation. The company estimates that the equipment will have a residual value of $27,000. University Car Wash also estimates it will use the machine for six years or about 12,000 total hours. Actual use per year was as follows: Year Hours Used 1 2,800 2 1,900 3 2,000 4 2,000 5 1,800 6 1,500 2. Prepare a depreciation schedule for six years using the double-declining-balance method. (Do not round your intermediate calculations.)