PlasticWorks Corporation bought a machine at the beginning of the year at a cost of...
90.2K
Verified Solution
Link Copied!
Question
Accounting
PlasticWorks Corporation bought a machine at the beginning of the year at a cost of $15,850. The estimated useful life was five years, and the residual value was $2,550. Assume that the estimated productive life of the machine is 13,300 units. Expected annual production was: year 1, 4,100 units; year 2, 4,100 units; year 3, 2,550 units; year 4, 1,330 units; and year 5, 1,220 units.
Required: 1. Complete a depreciation schedule for each of the alternative methods. (Enter all values as positive amount.) a. Straight-line. Income Statement Balance Sheet Depreciation Year Cost Accumulated Depreciation Book Value Expense At acquisition S 2 S 15.850 5 2 .880 2 ,650 2,660 2,660 2,650 2,650 15,850 15,850 15,850 15,850 b. Units-of-production Balance Sheet Income Statement Depreciation Expense Year Cost Accumulated Depreciation Book Value Al acquisition IS 15,850 15,850 15,850 15,850 15,850 4 S c. Double-declining-balance. Balance Sheet Income Statement Depreciation Expense Year Cost Accumulated Depreciation Book Value At acquisition S 2 15,850 15.850 15,850 15,850
Answer & Explanation
Solved by verified expert
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
