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

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In recent years, Sunland 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. Residual Value Useful Life (in years) Machine Acquired Cost Depreciation Method 1 Jan 1, 2022 $92,500 $11,600 5 Straight-line 2 July 1, 2023 77.500 9,370 5 Diminishing-balance 3 Nov. 1, 2023 68,254 5,950 6 Units-of-production For the diminishing-balance method, Sunland Corporation uses double the straight-line rate. For the units-of-production method, total machine hours are expected to be 25,960. Actual hours of use in the first 3 years were: 2023, 400: 2024, 4,740; and 2025, 4620. 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 dollar, eg. 5,275. Do not leave any answer field blank. Enter for amounts.) Machine 1: Straight-line depreciation Calculation End of Year Depreciable Cost Depreciation Rate # of months Depreciation Expense Accumulated Depreciation Carrying Amount Year 2022 $ % V $ $ 2023 % 2024 % 2025 % 2026 % Machine 2: Diminishing-balance depreciation Calculation End of Year Carrying Amount Beg, of Year Depreciation Rate # of months Depreciation Expense Accumulated Depreciation Carrying Amount Year 2023 $ % $ $ $ 2024 % 2025 %

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