On January 1, 2018, a machine was purchased for $102,500. The machine has an estimated...
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Accounting
On January 1, 2018, a machine was purchased for $102,500. The machine has an estimated salvage value of $7,580 and an estimated useful life of 5 years. The machine can operate for 113,000 hours before it needs to be replaced. The company closed its books on December 31 and operates the machine as follows: 2018, 22,600 hrs; 2019, 28,250 hrs; 2020, 16,950 hrs; 2021, 33,900 hrs; and 2022, 11,300 hrs.
Compute the annual depreciation charges over the machines life assuming a December 31 year-end for each of the following depreciation methods. (Round answers to 0 decimal places, e.g. 45,892.)
1.
Straight-line Method
$
2.
Activity Method
Year
2018
$
2019
$
2020
$
2021
$
2022
$
3.
Sum-of-the-Years'-Digits Method
Year
2018
$
2019
$
2020
$
2021
$
2022
$
4.
Double-Declining-Balance Method
Year
2018
$
2019
$
2020
$
2021
$
2022
$
eTextbook and Media
Assume a fiscal year-end of September 30. Compute the annual depreciation charges over the assets life applying each of the following methods. (Round answers to 0 decimal places, e.g. 45,892.)
Year
Straight-line Method
Sum-of-the-years'-digits method
Double-declining-balance method
2018
$
$
$
2019
2020
2021
2022
2023
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