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Answer and PLEASE show all of the work. Nearest dollar rounded whenever needed. Instructions: Using the sum-of-the-years-digit and double-declining balance depreciation methods, compute the depreciation
Answer and PLEASE show all of the work. Nearest dollar rounded whenever needed.
Instructions: Using the sum-of-the-years"-digit and double-declining balance depreciation methods, compute the depreciation expense for 2020 and 2021 and the book value of the machine at the end of 2021 for each of the following two independent cases. Please show your work briefly and have your final answers summarized in the tables. Round the final answers in the tables to the nearest dollar when needed. a. Gold Co. acquired a machine on Jan. 1, 2020, at a cost of $54,600. The machine has an estimated salvage value of $ 4,200 at the end of its 7-year useful life. The depreciation adjustment is done at the end of every calendar year. Depreciation expense Depreciation expense Book value as of Depreciation method for 2020 for 2021 Dec. 31, 2021 Sum-of-the-years-digits Double declining balance . Silver Co. acquired a machine on April 1, 2020, at a cost of $54,600. The machine has an estimated salvage value of $4,200 at the end of its 7-year useful life. The depreciation adjustment #done at the end of every calendar year. Depreciation expense Depreciation expense Book value as of Depreciation method for 2020 for 2021 Dec. 31, 2021 Sum-of-the-years-digits Double declining balanceStep by Step Solution
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