Banko Inc. manufactures sporting goods. The following information applies to a machine purchased on January...
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Banko Inc. manufactures sporting goods. The following information applies to a machine purchased on January 1, 2018: Purchase price Delivery cost Installation charge s 55, 800 $ 4,000 2,000 Estimated life Estimated units Salvage estimate 5 years 142,000 $ 5,000 During 2018, the machine produced 38,000 units and during 2019, it produced 40,000 units. Required Determine the amount of depreciation expense for 2018 and 2019 using each of the following methods: 2018 2019 a. Straight-line b. Double-declining-balance c. Units of production
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