Homework answers / question archive / On March 31, 2020 Rats be Gone Inc

On March 31, 2020 Rats be Gone Inc

Accounting

Share With

On March 31, 2020 Rats be Gone Inc., purchased equipment for $95,000 that makes rat traps. RBG Inc. also paid $2,300 for frieght and $2,700 for installation. The equipment is expected to last 4 years and have a salvage value of $10,000. RbG Inc expects the machine to produce a total of 30,000 rat traps. 1) ** REQUIRED** Using the same facts related to the equipment purchased for RbG Inc to complete the depreciation schedule using Double Declining Balance Method. Show your work: DDB depr. Rate Beg. NBV Depr. Rate Depr. Exp Accum Depr Ending NBV Year 2020 Apr - Dec 2021 2022 2023 2024
2) Complete an exert of the Balance Sheet Presentation on 12/31/22