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Fill the answer in the excel sheet A machine which cost $500,000 is acquired on January 1, 2017. Its estimated salvage value is $50,000 and
Fill the answer in the excel sheet
A machine which cost $500,000 is acquired on January 1, 2017. Its estimated salvage value is $50,000 and its expected life is eight years. Instructions (1) Calculate depreciation expense and complete the following schedules for 2017 and 2018 by each of the following methods. Use Excel Answer Sheet. Straight Line Depreciation Sum of the Years Digits Double-declining balance A B. Complete the following schedules and journal entries for 2017 & 2018 STRAIGHT - LINE Year Depreciation Expense Accumulated Depreciation Book Value 2017 2018 Debit Credit 2017 Depreciation Expense Accumulated Depreciation 2018 Depreciation Expense Accumulated Depreciation SUM OF THE YEAR DIGITS Depreciable Base Depreciation Rate Depreciation Expense Accumulated Depreciation Book Value Year 2017 2018 Debit | Credit Depreciation Expense 2017 Depreciation Expense Accumulated Depreciation Accumulated Depreciation Depreciation Expense 2018 Accumulated Depreciation DOUBLE DECLINING METHOD Book Value (Beginning) Depreciation Rate Depreciation Expense Accumulated Depreciation Book Value (Ending) Year 2017 2018 I I Debit | Credit Depreciation Expense 2017 2017 Depreciation Expense Accumulated Depreciation Accumulated Depreciation Depreciation Expense 2018 Accumulated DepreciationStep by Step Solution
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