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1) Determine the amount of depreciation expense for 2018 and 2019 using each of the following methods: Please show work. Thank you. Banko Inc. manufactures
1) Determine the amount of depreciation expense for 2018 and 2019 using each of the following methods:
Please show work. Thank you.
Banko Inc. manufactures sporting goods. The following information applies to a machine purchased on January 1, 2018: Purchase price Delivery cost Installation charge Estimated life Estimated units Salvage estimate $ 58,000 $ 5,000 $ 3,000 5 years 150,000 $ 6,000 During 2018, the machine produced 46,000 units and during 2019, it produced 48,000 units. Required Determine the amount of depreciation expense for 2018 and 2019 using each of the following methods: 2018 2019 a. Straight-line b. Double-declining-balance c. Units of productionStep by Step Solution
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