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(b) If machine 2 was purchased on April 1 instead of July 1, what would be the depreciation expense for this machine in 2021? In
(b) If machine 2 was purchased on April 1 instead of July 1, what would be the depreciation expense for this machine in 2021? In 2022? (2) (1) 2021 2022 Depreciation expense Current Attempt in Progress In recent years, Metlock Company has purchased three machines. Because of frequent employee turnover in the accounting department, a different accountant was in charge of selecting the depreciation method for each machine, and various methods have been used. Information concerning the machines is summarized in the table below. Salvage Value Machine Cost Useful Life (in years) 8 1 Acquired Jan. 1, 2020 July 1, 2021 Nov. 1, 2021 $ 99,500 91,500 73,500 2 Depreciation Method Straight-line Declining-balance Units-of-activity $ 12,500 11,000 7,500 5 3 6 For the declining-balance method, Metlock Company uses the double-declining rate. For the units-of-activity method, total machine hours are expected to be 33,000. Actual hours of use in the first 3 years were 2021,700; 2022, 4,800; and 2023, 6,800
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