In recent years, Oriole 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 Value Useful Life (in years) Cost $100,500 1 Jan. 1. 2018 $12,500 5 Depreciation Method Straight-line Diminishing balance Units-of-production 2 July 1, 2019 91.250 10,330 5 3 Nov. 1, 2019 71,806 5.740 6 For the diminishing-balance method, Oriole Corporation uses double the straight-line rate. For the units of production method. total machine hours are expected to be 25.410. Actual hours of use in the first 3 years were: 2019,400; 20204320; and 2021 4,710, Prepare separate depreciation schedules for each machine. Prepare the schedule for all years, Information permitting (Round depreciation per unit to 2 decimal places, es. 5.20 and answers to the nearest whole dollar, 63. 5.275. Do not leave any answer field blank. Enter for amounts.) Machine 1: Straight-line depreciation Calculation Depreciation Rate #of months Depreciation Expense Depreciable Amount Accumul Deprecii Year In recent years, Oriole 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 Residual Value Acquired Cost Useful Life (in years) Depreciation Method Straight line 1 Jan. 1. 2018 $100,500 $12,500 5 2 July 1, 2019 91,250 10,330 5 Diminishing balance Units-of-production 3 Nov. 1, 2019 71,806 5,740 6 For the diminishing-balance method, Oriole Corporation uses double the straight-line rate. For the units of production method, total machine hours are expected to be 25.410. Actual hours of use in the first 3 years were: 2019,400:2020 4,320; and 2021 4,710. Prepare separate depreciation schedules for each machine. Prepare the schedule for all years, Information permitting (Round depreciation per unit to 2 decimal places, es. 5.20 and answers to the nearest whole dollar eg. 5.275. Do not leave any answer field blank. Enter for amounts.) Machine 1: Straight-line depreciation Calculation Depreciation Rate #of months Depreciation Expense Depreciable Amount Accumul Deprecii Year Machine 2: Diminishing-balance depreciation Carrying Amount Beg. of Year Calculation Depreciation Rate of months Depreciation Expense Accumul Depreci! Year 2019 $ X $ 2020 > X 2021 I C 2022 2023 Machine 3: Units-of-production depreciation Calculation End of Yea Units-of- Production Depreciation Cost/Unit Depreciation Expense Accumulated Depreciation Year $ 2019 2020 Prepare separate depreciation schedules for each machine. Prepare the schedule for all years, information permitting (Round depreciation per unit to 2 decimal places, e8.5.20 and answers to the nearest whole dollar, eg. 5,275. Do not leave any answer field blank. Enter Ofor amounts.) Machine 1: Straight-line depreciation Depreciable Amount Calculation Depreciation Rate # of months Depreciation Expense Accumulat Depreciati lear 018 5 % $ 019 96 > % 020 % 021 022 Machine 2: Diminishing-balance depreciation Calculation Dennacation Accumul Carving Amount Dannedition
