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Cherokee Company acquired a machine on January 1, 2006, that cost $2,700 and had an estimated residual value of $200. Complete the following schedule using
Cherokee Company acquired a machine on January 1, 2006, that cost $2,700 and had an estimated residual value of $200. Complete the following schedule using the three methods of depreciation: A.) straight-line, B.) units-of-production, C.) declining-balance at 200% acceleration rate for year 2007. Method Estimated Useful Life Depreciation Accumulated depreciation Expense for 2007 12/31/2007 A. Straight-line 5 Years B. Units of Production 10,000 units (total) Actual units 1,000 in 2006 Actual units 1,200 in 2007 C. Double Declining 5 Years
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