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Exercise 9.4 Depreciation Methods L.O. 3 On January 2, 2013, Chow Corporation acquired a new machine with an estimated useful life of five years The
Exercise 9.4 Depreciation Methods L.O. 3 On January 2, 2013, Chow Corporation acquired a new machine with an estimated useful life of five years The cost of the equipment was $58,000 with a residual value of $3,300. Chow adopts the cost model as its accounting policy in subsequently measuring its property, plant, and equipment a-1 Prepare a complete depreciation table under the straight-line method. Assume that a full year of depreciation was taken in 2013. (Omit the "S" sign in your response.) Depreciation Accumulated Year Expense Depreciation Book Value 2013 S 2014 2015 2016 2017 a-2 Prepare a complete depreciation table under the 200 percent declining balance method. Assume that a full year of depreciation was taken in 2013. (Omit the "S" sign in your response.) Depreciation Accumulated Year Expense Depreciation Book Value 2013 $ $ 2014 2015 2016 2017 a-3 Prepare a complete depreciation table under the 150 percent declining balance with a switch to straight-line when it will maximize depreciation expense. Assume that a full year of depreciation was taken in 2013. (Omit the "S" sign in your response.)
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