Help Save & ExitSubn Check my work Problem 9.2A Comparison of Straight-Line and Accelerated Methods (LO9-3, LO9-5) Swanson & Hiller, Inc., purchased a new machine on September 1 of the current year at a cost of $170,000. The machine's estimated useful life at the time of the purchase was five years, and its residual value was $10,000. The company reports on a calendar year basis Required: a-1. Prepare a complete depreciation schedule, beginning with the current year, using the straight-l half-year convention is used) a-2. Prepare a complete depreciation schedule, beginning with the current year, using the 200 percent declining-balance method (Assume that the half-year convention is used) a-3. Prepare a complete depreciation schedule, beginning with the current year, using the 150 percent declining-balance, switching to straight-line when that maximizes the expense. (Assume that the half-year convention is used). b. Which of the three methods computed in part a is most common for financial reporting purposes? c. Assume that Swanson & Hiller sells the machine on December 31 of the fourth year for $31,500 cash. Compute the resulting gain or loss from this sale under each of the depreciation methods used in part a eBook ne method. (Assume that the Ask Print References Complete this question by entering your answers in the tabs below. K Prev 3 of 3 ! Next 257 PM Mc Graw Hill