Chapter 8 Questions(1)

Chapter 8 Questions(1) - Quiz Chapter 8 Professor Timothy...

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Quiz Chapter 8 Professor Timothy O’Rourke Professor Timothy O’Rourke
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Exhibit 8-1: Lamory, Inc. purchased a crane at a cost of $80,000. The crane has an estimated residual value of $5,000 and an estimated life of 8 years, or 12,500 hours of operation. The crane was purchased on January 1, 2009 and was used 2,700 hours in 2009 and 2,600 hours in 2010. A. Straight-line B. Double-declining-balance C. Units-of-production D. All methods produce the same expense in 2009 . 1. Based on the information presented above, what method of depreciation will produce the maximum depreciation expense in 2009 ?
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Answer: B
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Lamory, Inc. purchased a crane at a cost of $80,000. The crane has an estimated residual value of $5,000 and an estimated life of 8 years, or 12,500 hours of operation. The crane was purchased on January 1, 2009 and was used 2,700 hours in 2009 and 2,600 hours in 2010. A. Straight-line B. Double-declining-balance C. Units-of-production D. All methods produce the same expense in 2010 . 2. Based on the information presented above, what method of depreciation will produce the maximum depreciation expense in 2010 ?
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Answer: C
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has an estimated residual value of $5,000 and an estimated life of 8 years, or 12,500 hours of operation. The crane was purchased on January 1, 2009 and was used 2,700 hours in 2009 and 2,600 hours in 2010. A. $60,000
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This note was uploaded on 04/15/2011 for the course ACCT 2101 taught by Professor Christianwurst during the Spring '08 term at Temple.

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Chapter 8 Questions(1) - Quiz Chapter 8 Professor Timothy...

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