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In recent years. Oriole Company has purchased three machines. Because of frequent employee turnover in the accounting department, a different accountant was in charge of
In recent years. Oriole Company 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 1 2 3 Acquired Jan. 1. 2020 July 1, 2021 Nov. 1, 2021 Cost $129,000 76,000 66,100 Salvage Value $41.000 11,600 6,100 Useful Life (in years) 8 5 7 Depreciation Method Straight-line Declining balance Units-of-activity For the declining balance method, Oriole Company uses the double-declining rate. For the units-of-activity method, total machine hours are expected to be 30,000. Actual hours of use in the first 3 years were: 2021, 610: 2022,5,600; and 2023,7,300. Compute the amount of accumulated depreciation on each machine at December 31, 2023. MACHINE 1 MACHINE 2 MACHINE 3 Accumulated Depreciation at December 31 $ $ $ $ e Textbook and Media machine 2 was purchased on April 1 instead of July 1, what would be the depreciation expense for this machine in 2021? In 2022? 2021 2022 Depreciation Expense $ $
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