Choice Among Depreciation Methods

Choice Among Depreciation Methods Walnut Ridge Production Inc. purchased a new computerized video-editing machine at a cost of $370,000. The system has a residual value of $54,600 and an expected life of 5 years. Required: 1. Compute depreciation expense, accumulated depreciation, and book value for the first 3 years of the machine's life using: a. The straight-line method. Accumulated Depreciation Expense End of Year Depreciation Book Value 370,000 1 62,720 X $ 62,720 X 307,280X 2 62,720 X 125,440 X 244,560 X w N 3 62,720 X 188,160 x 181,840 X