13 fi Question 2: Depreciation Expense (9 marks) 2 Make sure you scroll down to the bottom of each worksheet until you see "End of Question __". This will ensure you've answered all parts! A machine that produces cellphone components is purchased on January 1, 2021. The company has a December 31 year end. 5 6 7 g 0 Instructions Calculate the amount of deprecation to be charged each year, using each of the following methods: () Straight-line depreciation: (1 mark) Initial cost $ 224,000 Residual value $ 10,000 For this question is it critical you use excel formulas with no rounding Useful life (years) and carry your numbers through. Otherwise your answers will not match the solution and will be marked incorrect. Annual depreciation expenses 9 1 2 3 4 011) Units of production depreciation: (3 marks) Initial cost Residual value Useful life (units) Depreciable cost per unit $ S 224,000 10,000 153,000 22 Depreciation expense Year Units 23 24 25 2021 2022 2023 24,000 25,000 24,000 23,000 2024 26 27 28 29 30 31 32 (HI) Double-diminishing-balance depreciation: (5 marks) Double-diminishing rate Year Beg. Carrying Amount $224,000 Depreciation expense End. Carrying Amount 33 34 35 36 2021 2022 2023 2024 37 38 29