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

In recent years, Sheridan 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

Acquired

Cost

Salvage Value

Useful Life (in years)

Depreciation Method

1

Jan. 1, 2020

$ 95,500 $ 13,500 8 Straight-line

2

July 1, 2021

87,500 11,500 5 Declining-balance

3

Nov. 1, 2021

98,000 8,000 6 Units-of-activity

For the declining-balance method, Sheridan 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, 1,000; 2022, 4,500; and 2023, 6,500.In recent years, Sheridan 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

Acquired

Cost

Salvage Value

Useful Life (in years)

Depreciation Method

1

Jan. 1, 2020

$ 95,500 $ 13,500 8 Straight-line

2

July 1, 2021

87,500 11,500 5 Declining-balance

3

Nov. 1, 2021

98,000 8,000 6 Units-of-activity

For the declining-balance method, Sheridan 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, 1,000; 2022, 4,500; and 2023, 6,500.

compute the amount of accumulated depreciation on each machine at December 31,2023

MACHINE 1 $

MACHINE 2 $

MACHINE 3 $

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