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Fix answers in red plz thx In recent years, Sandhill Corporation has purchased three machines. Because of frequent employee turnover in the accounting department, a
Fix answers in red plz thx
In recent years, Sandhill Corporation has purchased three machines. Because of frequent employee turnover in the accounting department, a different accountant was in charge of selecting the depreciation method for each machine, and various methods have been used. Information concerning the machines is summarized in the table below. Machine Acquired Residual Value Cost Useful Life (in years) 1 Jan 1, 2018 $90.700 $13,000 5 Depreciation Method Straight-line Diminishing-balance Units-of-production 2 July 1, 2019 85,000 9.490 5 3 Nov. 1, 2019 64.703 6,140 6 For the diminishing-balance method, Sandhill Corporation uses double the straight-line rate. For the units-of-production method, total machine hours are expected to be 21,690. Actual hours of use in the first 3 years were: 2019,440; 2020,4.200; and 2021,4,610. Machine 2. Diminishing-balance depreciation Carrying Amount Beg. of Year Calculation Depreciation Rate Year #of months Depreciation Expense Accumi Deprec 2019 $ 85000 60 % 6/12 12000 $ 2020 68000 30% 12/12 : 27200 2021 40800 0 % 12/12 16320 2022 24430 799 12/12 10% IN 40 14688 % 58752 12/12 2023 Machine 2: Diminishing balance depreciation Calculation End of Year Depreciation Rate # of months Depreciation Expense Accumulated Depreciation Carrying Amount 40 % 6/12 17000 $ 17000 $ 68000 40 % 12/12 4 27200 14200 40800 40 % 12/12 16320 60520 24480 40 % 9792 70312 14688 6/12 3/12 12/12 9/12 40 % 5875.2 76187.2 8812.8
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