Sketches Inc. purchased a machine on January 1, 2016. The cost of the machine was...
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Sketches Inc. purchased a machine on January 1, 2016. The cost of the machine was $26,000. Its estimated residual value was $8,000 at the end of an estimated 5-year life. The company expects to produce a total of 20,000 units. The company produced 1,000 units in 2016 and 1,450 units in 2017 Required: a. Calculate depreciation expense for 2016 and 2017 using the straight-line method. 2016 2017 Depreciation Expense Calculate the depreciation expense for 2016 and 2017 using the units-of-production method. (Do not round your intermediate calculations. Round your final answers to the nearest whole dollar) b. 2016 2017 Depreciation Expensel c. Calculate depreciation expense for 2016 through 2020 using the double-declining balance method. (Round your final answer to nearest dollar value.) 2016 2017 2018 2019 2020 Depreciation Expense
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