1 On April 30, Year 1, Tilton Products purchased machinery for $55,000 The useful life of this machinery is estimated at 8 years, with an $15,000 residual value Tilton uses a calendar year end for financial reporting Assume that in its financial statements, Tilton Products uses straight line depreciation and the half year convention Depreciation expense recognized on this machinery in Year 1 and Year 2 will be $14,062 in Year 1 and $6,875 in Year 2 $4,375 in Year 1 and $8,750 in Year 2 $6,875 in Year 1 and $3,438 in Year 2 $2,500 in Year 1 and $5,000 in Year 2 2 On April 30, Year 1, Tilton Products purchased machinery for $55,000 The useful life of this machinery is estimated at 8 years, with an $5,000 residual value Tilton uses a calendar year end for financial reporting Assume that in its financial statements, Tilton Products uses straight line depreciation and rounds depreciation for fractional years to the nearest month Depreciation expense recognized on this machinery in Year 1 and Year 2 will be $3,333 in Year 1 and $6,250 in Year 2 $2,500 in Year 1 and $6,250 in Year 2 $4,167 in Year 1 and $6,250 in Year 2 $6,250 in Year 1 and $6,250 in Year 2 3 On April 30, Year 1, Tilton Products purchased machinery for $44,000 The useful life of this machinery is estimated at 8 years, with an $4,000 residual value Tilton uses a calendar year end for financial reporting Assume that in its financial statements, Tilton Products uses the 200 declining balance method and the half year convention Depreciation expense in Year 1 and Year 2 will be $11,000 in Year 1 and $8,250 in Year 2 $11,000 in Year 1 and $9,625 in Year 2 $5,500 in Year 1 and $9,625 in Year 2 $5,500 in Year 1 and $11,000 in Year 2 4 On April 30, Year 1, Tilton Products purchased machinery for $44,000 The useful life of this machinery is estimated at 8 years, with an $4,000 residual value Tilton uses a calendar year end for financial reporting Assume that in its financial statements, Tilton Products uses the 150 declining balance method and the half year convention Depreciation expense in Year 1 and Year 2 will be $4,125 in Year 1 and $7,477 in Year 2 $7,500 in Year 1 and $6,844 in Year 2 $8,250 in Year 1 and $8,250 in Year 2 $8,250 in Year 1 and $7,477 in Year 2

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1. On April 30, Year 1, Tilton Products purchased machinery for $55,000. The useful life of this machinery is estimated at 8 years, with an

1. On April 30, Year 1, Tilton Products purchased machinery for $55,000. The useful life of this machinery is estimated at 8 years, with an $15,000 residual value. Tilton uses a calendar year-end for financial reporting.

Assume that in its financial statements, Tilton Products uses straight-line depreciation and the half-year convention. Depreciation expense recognized on this machinery in Year 1 and Year 2 will be:

$14,062 in Year 1 and $6,875 in Year 2.
$4,375 in Year 1 and $8,750 in Year 2.
$6,875 in Year 1 and $3,438 in Year 2.
$2,500 in Year 1 and $5,000 in Year 2

2. On April 30, Year 1, Tilton Products purchased machinery for $55,000. The useful life of this machinery is estimated at 8 years, with an $5,000 residual value. Tilton uses a calendar year-end for financial reporting.

Assume that in its financial statements, Tilton Products uses straight-line depreciation and rounds depreciation for fractional years to the nearest month. Depreciation expense recognized on this machinery in Year 1 and Year 2 will be:

$3,333 in Year 1 and $6,250 in Year 2.
$2,500 in Year 1 and $6,250 in Year 2.
$4,167 in Year 1 and $6,250 in Year 2.
$6,250 in Year 1 and $6,250 in Year 2.

3. On April 30, Year 1, Tilton Products purchased machinery for $44,000. The useful life of this machinery is estimated at 8 years, with an $4,000 residual value. Tilton uses a calendar year-end for financial reporting.

Assume that in its financial statements, Tilton Products uses the 200%-declining-balance method and the half-year convention. Depreciation expense in Year 1 and Year 2 will be:

$11,000 in Year 1 and $8,250 in Year 2.
$11,000 in Year 1 and $9,625 in Year 2.
$5,500 in Year 1 and $9,625 in Year 2.
$5,500 in Year 1 and $11,000 in Year 2.

4.On April 30, Year 1, Tilton Products purchased machinery for $44,000. The useful life of this machinery is estimated at 8 years, with an $4,000 residual value. Tilton uses a calendar year-end for financial reporting.

Assume that in its financial statements, Tilton Products uses the 150%-declining-balance method and the half-year convention. Depreciation expense in Year 1 and Year 2 will be: