Question
Ivanhoe Company purchased machinery for $172,200 on January 1, 2020. It is estimated that the machinery will have a useful life of 20 years, salvage
Ivanhoe Company purchased machinery for $172,200 on January 1, 2020. It is estimated that the machinery will have a useful life of 20 years, salvage value of $14,700, production of 78,900 units, and working hours of 39,500. During 2020, the company uses the machinery for 12,245 hours, and the machinery produces 12,624 units. Compute depreciation under the straight-line, units-of-output, working hours, sum-of-the-years-digits, and double-declining-balance methods. (Round intermediate calculations to 5 decimal places, e.g. 1.56487 and final answers to 0 decimal places, e.g. 5,125.)
Depreciation | |||
Straight-line | $ | ||
Units-of-output | $ | ||
Working hours | $ | ||
Sum-of-the-years-digits | $ | ||
Double-declining-balance | $ |
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