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Greenfield Incorporated is a publicity traded company that has a calendar year end. During the year 2020 the company had the transactions listed below:. Part
Greenfield Incorporated is a publicity traded company that has a calendar year end. During the year 2020 the company had the transactions listed below:. Part 1. On April 1, 2020, Greenfield Incorporated purchased machinery valued at $300,000. The estimated life of the machinery is 10 years. The machinery also has a salvage value of $60,000. Over the life of the machine, the estimated hours that machine will be used is 30,000 hours. The corporation is comparing depreciation calculations using several acceptable depreciation methods. Compute the depreciation expense for the machine for years 2020 and 2021 using the following methods:. *. Year 2020 Year 2021. A. Straight-line(with half yr convention..........$. .................$. B. 200% declining Bal (with half yr convention....$.............$. C. 150% declining Bal (with half yr convention.......$ ..........,.$. D. Units-of-output method (Hours used:......................$ ..........$ 2,600 hrs in Year 2020 and 6,000 in Year 2021). . . E. Straight-line(with depreciation calculated to the....$ .....$ nearest whole month)
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