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11. Straight Line Depreciation. On January 1, 2020 Super Seafood Producers installed a canning machine with a cost of $160,000. Super Seafood Producers expects
11. Straight Line Depreciation. On January 1, 2020 Super Seafood Producers installed a canning machine with a cost of $160,000. Super Seafood Producers expects the canning machine to remain useful for 15 years and have a residual value of $10,000. Using the Straight Line method, calculate the depreciation expense for 2021 and the accumulated depreciation at the end of 2022 and then the Book value at the end of 2022.. Actual final exam question may be any combination of Depreciation Expense, Accumulated Depreciation and Book Value. May not be 15 years could be 4 or 5 or any number of years useful life. (5 points) Item Optional Calculations: Answer Depreciation Expense 2021: Accumulated Depreciation End of 2022: Book Value 2022 I
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