On January 1, 2021, Johnson and Johnson (J&J) purchased a new capsule filling system that...
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On January 1, 2021, Johnson and Johnson (J&J) purchased a new capsule filling system that automatically fills Tylenol capsules. The system has an expected life of 5 years. The system cost $600,000. Shipping, installation, and set up was an additional $47,000. At the end of the useful life, Tish Figueroa, chief accountant for J&J, expects to dispose of the filling system for $110,000. She further anticipates total output of 1,118,750 capsules over the useful life.
Assuming the use of the double-declining balance depreciation method, prepare a schedule showing annual depreciation and accumulated depreciation
Year Annual Expense Accumulated Depreciation at End of Year 2021 2022 2023 2024 2025
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