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Can you fix the part I am wrong? Swanson & Hiller, Inc., purchased a new machine on September 1 of the current year at a
Can you fix the part I am wrong?
Swanson & Hiller, Inc., purchased a new machine on September 1 of the current year at a cost of $140,000. The machine's estimated useful life at the time of the purchase was five years, and its residual value was $10,000. The company reports on a calendar year basis. Required: a-1. Prepare a complete depreciation schedule, beginning with the current year, using the straight-line method. (Assume that the half-year convention is used). a-2. Prepare a complete depreciation schedule, beginning with the current year, using the 200 percent declining-balance method. (Assume that the half-year convention is used). Req A1 Reg A2 Req A3 Req B Reqc Prepare a complete depreciation schedule, beginning with the current year, using the 200 percent declining-balance method. (Assume that the half-year convention is used). (Round your answers to the nearest dollar amount.) Accumulated Year Depreciation Book Value $ $ Depreciation Expense 28,000 44,800 26,880 16,128 10,120 4,072 % 28,000 72,800 99,680 115,808 125,928 X 130,000 112,000 67,200 40,320 24,192 14,072 X 10,000Step by Step Solution
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