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calculate depreciation by a) straight line for 2017 through to 2021 b) diminishing balance method from 2017 to 2021 c) units of production Crane Ltd.
calculate depreciation by a) straight line for 2017 through to 2021 b) diminishing balance method from 2017 to 2021 c) units of production
Crane Ltd. purchased a new machine on April 4, 2017, at a cost of $172,000. The company estimated that the machine would have a residual value of $14,000. The machine is expected to be used for 10,000 working hours during its four-year life. Actual machine usage was 1,600 hours in 2017; 2,000 hours in 2018; 2,200 hours in 2019; 2,300 hours in 2020; and 1,900 hours in 2021. Crane has a December 31 year end. Calculate depreciation for the machine under each of the following methods: (Round expense per unit to 2 decimal places, e.g. 2.75 and final answers to O decimal places, e.g. 5,275.) (1) Straight-line for 2017 through to 2021. 2017 expense $ 2018 expense $Step by Step Solution
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