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Banko Incorporated. manufactures sporting goods. The following information applies to a machine purchased on January 1, Year 1: Purchase price Delivery cost Installation charge
Banko Incorporated. manufactures sporting goods. The following information applies to a machine purchased on January 1, Year 1: Purchase price Delivery cost Installation charge Estimated life Estimated units $ 70,000 $ 3,000 $ 1,000 5 years 140,000 Salvage estimate $ 4,000 During Year 1, the machine produced 36,000 units and during Year 2, it produced 38,000 units. Required Determine the amount of depreciation expense for Year 1 and Year 2 using each of the following methods: a. Straight-line b. Double-declining-balance c. Units of production Year 1 Year 2
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