OLAPIER8HOMEWORK CHAPTER 8 HOMEWORK 8 Apex Fitness Club uses straight Ine deprec

Question

OLAPIER8HOMEWORK CHAPTER 8 HOMEWORK 8 Apex Fitness Club uses straight Ine depreciation for a machine costing $21350 with an estlimated lour year life and a $2,250 salvage value. Al the beginning of the third year, Apex detenmines that the machine has three more years of remalining usefud life, after which in will have an estimated $1,800 salvage value. 8 Apex Fitness Club uses straight -ine depreciation for a machine costing $21.350, with an estimated four year value. At the beginning ot the third yeak, Apex detesmines life and a $2.250 salvage that the machine has three more years of remaining useful life, after which i 1. Compute the machine's book value at the end of its second year 2. Compute the amount of depreclation for each of the inal teee years glven the revised estimates will have an estimated $1,800 salvage value 10 Required 1. Compute the machine's book value at the end of its second year 2. Compute the amount of depreciation for each of the final three years given the r Complete this question by entering your answers in the tabs below. evised estimates answers in the tabs below. Complete this question by entering your the machine's book value at tthe end off ts second year Reeierces Requred ! Required 2 the amount of depreciation for each of the final theee years given the revised estimates. (Do not round

Explanation / Answer

1 Book Value at the End of Year 2: Cost 21350 Accumulated depreciation 2 years -9,550 Book value at point of revision 11800 2 Revised Depreciation (Years 3-5) Book value at point of revision 11800 Revised salvage value -1,800 Remaining depreciable cost 10,000 Years of life remaining 3 Revised annual depreciation years 3-5 3333

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