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I need help finding the accumulated depreciation Sketches Inc. purchased a machine on January 1, 2016. The cost of the machine was $45,500. Its estimated
I need help finding the accumulated depreciation
Sketches Inc. purchased a machine on January 1, 2016. The cost of the machine was $45,500. Its estimated residual value was $14,500 at the end of an estimated 5-year life. The company expects to produce a total of 10,000 units. The company produced 1,650 units in 2016 and 2,100 units in 2017. Required: Calculate depreciation expense and accumulated depreciation for 2016 and 2017 " using the straight-line method. Depreciation Expense Accumulated Depreciation $ 2016 6,200 $ 2017 6,200 Calculate the depreciation expense and accumulated depreciation for 2016 and 2017 b. using the units-of-production method. (Do not round your intermediate calculations. Round your final answers to the nearest whole dollar.) 2016 5,115 2017 5,115 $ $ Depreciation Expense Accumulated Depreciation c. Calculate depreciation expense and accumulated depreciation for 2016 through 2018 using the double-declining balance method. (Round your final answer to nearest dollar value.) 2016 18,200 2017 10,920 2018 1,880 $ $ $ Depreciation Expense Accumulated DepreciationStep by Step Solution
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