Acme Corporation purchased a new machine on September 30, 20X1 at a cost of $920,000. The machine is expected to last five years and have a salvage value of $10,000 at the end of that time. Acme has a calendar fiscal year. (Note: Make sure to record only 3 months depreciation in first year and 9 months depreciation in 5th year, where applicable).

Paste copy E Merge & Center Format painter Formatting Table styles Clear Filter Select K6 A B C D Depreciation 5 GIVEN: Acme Corporation purchased a new machine on September 30, 20X1 at a cost of $920,000. The machine is expected to last five years and have a salvage value of $10,000 at the end of that time. Acme has a calenda fiscal year. Note: Make sure to record only 3 months depreciation in first year and 9 months depreciation in 5th year, where applicable). 920,000 10 REQUIRED Part 1: Determine the depreciation expense and the ending book values of the machine for 11 fiscal years 20x1 20x6 using the straight-line depreciation method. (Show calculations.) Depreciation Accumulated Ending Book Yea eciation Value xpense Cost 20X1 20X2 20X3 20X4. 20X5 21 20X6 231 Sheet1