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Best Company acquired a machine on January 1, 2018, that cost $40,000 and had an estimated residual value of $4,000. Complete the following schedule (for

Best Company acquired a machine on January 1, 2018, that cost $40,000 and had an estimated residual value of $4,000. Complete the following schedule (for 2018) using the three methods of depreciation:

  1. straight-line, B.) units-of-production, C.) declining-balance at 150% acceleration rate.

(Round to the nearest dollar).

Income Statement Balance Sheet

Method Useful Life 2018 Expense 2018 Accum. Deprec.

SL 5 yrs $__________ $__________

Units Prod. 8,000 units $__________ $__________

(2018 Actual 2,000 units)

200% DB 5 yrs $__________ $__________

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