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53 Solar Innovations Corporation bought a machine at the beginning of the year at a...

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Accounting

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53 Solar Innovations Corporation bought a machine at the beginning of the year at a cost of $22,000. The estimated useful life was five years and the residual value was $2,000. Assume that the estimated productive life of the machine is 10,000 units. Expected annual production was year 1, 2,000 units, year 2, 3,000 units: year 3, 2,000 units, year 4, 2.000 units; and year 5, 1,000 units, Required: 1. Complete a depreciation schedule for each of the alternative methods. a. Straight-line. b. Units-of-production ces 2. Which method will result in the highest net income in year 2? Does this higher net income mean the machine was used more efficiently under this depreciation method? Complete a depreciation schedule for Straight-line method. (Do not round intermed Balance Sheet Income Statement Depreciation Expense Year Cost Accumulated Depreciation Book Value At acquisition 1 2 3 4 Balance Sheet Income Statement Depreciation Expense Year Cost Accumulated Depreciation Book Value At acquisition 1 2 3 5

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