Compute the depreciation on each piece of equipment to the date of disposal. Machine #1...
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Accounting
Compute the depreciation on each piece of equipment to the date of disposal. Machine #1 Annual Depreciation Accumulated Depreciation Year 2018 $ $ 2019 2020 2021 2022 Machine #2 Annual Depreciation Accumulated Depreciation Year 2021 2022 Mark's Lumber Mill sold two pieces of equipment in 2022. The following information pertains to the two pieces of equipment: Purchase Date Useful Life Salvage Value Depreciation Method Sales Price Machine Cost Date Sold #1 $124,700 7/1/18 5 yrs $8,700 Straight-line 7/1/22 $29,000 #2 $137,750 1/1/21 5 yrs $7,250 Double-declining-balance 12/31/22 $53,650
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