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In recent years, Crane Corporation has purchased three machines. Because of frequent employee turnover in the accounting department, a different accountant was in charge of

In recent years, Crane 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 Useful Life Cost Value (in years) Depreciation Method 1 Jan 1, 2018 $97,500 $11,300 5 Straight-line 2 July 1, 2019 81.250 9470 5 Diminishing balance Nov. 1,2019 59,204 6.300 6 Units-of-production For the diminishing balance method, Crane Corporation uses double the straight-line rate. For the units of production method, total machine hours are expected to be 22,010. Actual hours of use in the first 3 years were: 2019, 420; 2020, 4,750; and 2021, 5,060. (a) Prepare separate depreciation schedules for each machine. Prepare the schedule for all years, information permitting (Round depreciation per unit to 2 decimal places, eg 5.20 and answers to the nearest whole dollor, eg. 5,275. Do not leave any answer field blank. Enter for amounts.) Machine 1: Straight-line depreciation Year 2018 $ 2019 2020 2021 2022 Depreciable Amount Cakulation Depreciation End of Year Rate #of months Depreciation Expense Accumulated Depreciation Carrying Amount % $ $ Machine 2: Diminishing-balance depreciation Year 2019 $ 2020 2021 2022 2023 Carrying Amount Beg, of Year Machine 3: Units-of-production depreciation % % % Calculation End of Year Depreciation of Rate months Depreciation Accumulated Depreciation Carrying Amount % $ % % Calculation End of Year Year Units-of- Production Depreciation Cost/Unit Depreciation Expense Accumulated Depreciation Carrying Amount 2019 $ 2020 2021

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