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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. Salvage Useful Life Depreciation Method Machine Acquired Cost Value (in years) 1 Jan. 1, 2020 $132,500 $52,500 8 Straight-line 2 July 1,2021 91,000 11,800 5 Declining-balance 3 Nov. 1,2021 71.900 7,900 Units-of-activity 6 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 32,000. Actual hours of use in the first 3 years were: 2021, 680, 2022, 6,400; and 2023,7,600 Compute the amount of accumulated depreciation on each machine at December 31, 2023 MACHINE 1 MACHINE 2 MACHINE 3 Accumulated Depreciation at December 31 $ eTextbook and Media If 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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