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Depreciation Methods Clearcopy, a printing company, acquired a new press on January 1, 2019. The press cost $171,600 and had an expected life of 8
Depreciation Methods Clearcopy, a printing company, acquired a new press on January 1, 2019. The press cost $171,600 and had an expected life of 8 years or 4,500,000 pages and an expected residual value of $15,000. Clearcopy printed 677,600 pages in 2019. Do not round intermediate calculations. If required, round your answers to the nearest whole dollar.
Required:
1. Compute 2019 depreciation expense using the:
2019 | |||
a. | Straight-line method | $fill in the blank 1 | |
b. | Double-declining-balance method | $fill in the blank 2 | |
c. | Units-of-production method | $fill in the blank 3 |
2. What is the book value of the machine at the end of 2019 under each method?
Book Value | ||
a. | Straight-line method | $fill in the blank 4 |
b. | Double-declining-balance method | $fill in the blank 5 |
c. | Units-of-production method | $fill in the blank 6 |
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