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Can someone help me with this one? Po-9A Megan Corporation purchased machinery on January i, 2017, at a cost of $250,00o. The estimated useful life
Can someone help me with this one?
Po-9A Megan Corporation purchased machinery on January i, 2017, at a cost of $250,00o. The estimated useful life of the machinery is 4 years, with an estimated salvage value at the end of that period of s30,000. The company is considering different depreciation methods that could be used for financial reporting purposes Instructions (a) Prepare separate depreciation schedules for the machinery using the straight-line method, and the declining balance method using double the straight-line rate. (Round to the nearest dollar (a) Double-declining-balance expense 2019 $31,250 b) which method would result in the higher reported 2017 income? In the highest total reported income over the 4-Vear period? (c) Which method would result in the lower reported 2017 income? In the lowest total reported income over the 4-year periodStep by Step Solution
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