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Hathaway Company purchased a copying machine for $8,700 on October 1, 2016. The machine's residual...

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Accounting

Hathaway Company purchased a copying machine for $8,700 on October 1, 2016. The machine's residual value was $500 and its expected service life was 5 years. Hathaway computes depreciation expense to the nearest whole month. Required: Compute depreciation expense (rounded to the nearest dollar) for 2016 and 2017 using the: Straight-line method 2016 $ 2017 $ Sum-of-the-years'-digits method 2016 $ 683 2017 $ 2,187 Double-declining balance method 2016 $ 2017 $

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